Austin tops for relocating businesses

I just read this in todays Austin Business Journal news briefs. More good news for Austin, and our real estate market. Job growth drives a healthy real estate market more than anything else, and Austin continues to land at the top or near the top of the various “Best of ..” lists with regard to business climate, quality of life, and affordability.

Expansion Management magazine puts the Austin area first among U.S. cities in the magazine’s fourth annual Mayors Challenge rankings of the best cities for future business locations.

Austin ranked No. 1 overall out of 362 metro areas across the country in seven categories, including education, health care, quality of life, logistics, number of knowledgeable workers, legislative climate, and a poll of 80 prominent corporate site consultants.

Texas led all states in the rankings, with seven metros earning its “5-Star Business Opportunity Metro” distinction.

Virginia was next, with five, followed by Michigan, with four metros that earned top honors. Arizona, California, Iowa, Missouri, Ohio, Pennsylvania and Washington each had three metros that made the “5-Star” list.

In all, 33 states had at least one “5-Star Business Opportunity Metro” on this year’s list.

“Among today’s big-city mayors, attracting businesses — and the new jobs and tax revenue they bring with them — is priority No. 1,” says Bill King, chief editor of Expansion Management. “Competition among cities is fierce and, despite their notoriety, incentives are not the difference maker when it comes to why businesses choose one city over another. Being able to satisfy a company’s long term business requirements is much more important, and the most successful cities realize that fact.”

Expansion Management is a bimonthly magazine for executives of companies actively looking for a place to expand or relocate their facilities within the next one to three years.

Source: Austin Business Journal

3 thoughts on “Austin tops for relocating businesses”

  1. We’ve noticed this as well. Almost all of our clients from out of state are choosing to come to Austin to work. Many of them have choices of living anywhere in the US and they are finding reasons to come to Austin. Great for our Real Estate!

  2. I’ve heard a rumor that much (over 60%) of the growth in greater Austin area is realted to building activities. Some people worry that if the builders start to pull out, we will sink in another 2000-2003 malaise. Is this possible?

  3. > I’ve heard a rumor that much (over 60%) of the growth in greater Austin area is realted to building activities.

    Where did you hear this rumor? Austin’s economy is running on all cylinders from everything I see and read. “Building” is a trailing indicator of a healthy economy, not a leading indicator. Building, in and of itself, cannot cause growth. There must first be a demand for those things being built. That demand is determined by job growth and other factors.

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