Austin and Texas Continue to Thrive Economically
The Milken Institute came out with its Best-Performing index and Texas cities were big winners. It looked at things like technology output, job creation and wages over a 5 year period and various other things. Nine Texas cities were among the top 25 with San Antonio being #1, El Paso at #2 and the Austin-Round Rock metro area coming in at #4.
Austin, without a military base aside from the National Guard base at Camp Mabry, may have been higher if it was not for the U.S. military’s Base Realignment and Consolidation (BRAC) process, which helped San Antonio and El Paso quite a bit. Austin had been at #2 in last year’s report.
The report talked about Austin-Round Rock’s strong high tech market with companies like Dell, Apple, IBM, AT&T, eBay and Facebook all having a significant presence in the market. It also talked about Samsung getting ready to Samsung dumping $3.6 billion into its plant in Austin and what that will mean to the local economy over the next few years.
Other Texas metro areas in the top 25 were Temple-Killeen-Fort Hood at #5(BRAC again), Houston-Sugarland-Baytown at #16, McAllen-Edinburg-Mission at #18, Dallas-Plano-Irving at #20, Fort Worth-Arlington at #24 and Lubbock at #25,
This certainly helps explain why the real estate market in Texas cities continued to be strong.
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