Besides fun recreation music and great food Austin Texas also has a reputation as a thriving and vibrant business community. Companies here offer a virtual cornucopia of business and industry with key industries that include advanced technology and manufacturing (software hardware semiconductor and more); government education music healthcare and film – plus many other support services and industries. It’s pretty simple: Companies like to do business in Austin.
While Austin is probably most known for its technology base and its reputation as the “Silicon Hills” thanks to such major local employers as Dell Inc. IBM AMD Applied Materials National Instruments Apple Computer and Freescale Semiconductor Inc. among others and it’s also home to a huge government and public employment sector.
Large government and public sector employers here include the Internal Revenue Service which operates a larger regional office; the University of Texas at Austin the State of Texas; the City of Austin; the Austin Independent School District; and the Round Rock Independent School District among others. All rank among the area’s largest employers.
The state in general – and Austin in particular– is also a magnet for business new projects expansions and relocations winning Site Selection magazine’s 2010 Governor’s Cup (announced in March 2011) for new project activity and beating out 49 other states with a whopping 424 projects. Qualifying Texas projects included private sector capital investment of at least $1 million in commercial facilities; and 50 or more new jobs or new construction of at least 20000 square feet.
Besides a flourishing corporate business culture Austin is also tops for entrepreneurs who want to do business in Austin ranking first among cities where the “business opportunity is greatest for growing companies” according to Expansion magazine. Austin Texas was also noted as leading the nation in “Small Business Vitality” rankings according to The Business Journals On Numbers (2011 and 2012) – and that’s great news for entrepreneurs.
Known as an incubator for countless homegrown enterprises Austin Texas boasts several stellar resources for many startup companies including Austin Ventures – one of the region’s most active venture capital firms with $3.9 billion under management across 10 funds. When it comes to making deals the Austin-metro area scored 20 deals totaling $184 million in fourth quarter 2011 (CB Insights Q1 2011 Venture Capital Activity Report). Multiple companies who do business in Austin have also made the Deloitte Texas Technology Fast 50 list in past years as well as Inc. magazine’s annual list of the 500 Fastest-Growing Private Companies in the U.S..
And as the home to the University of Texas – the fifth-largest in the country with an enrollment of about 51000 graduate and undergraduate students and 300000 continuing education students – as well as such distinguished colleges and universities as St. Edward’s University Southwestern University in Georgetown and Texas State University in San Marcos there’s no shortage of a talented and highly educated employee and entrepreneur base. Doing business in Austin is no longer a well kept secret.