Austin Struggling With Population Boom
The budget battle in Washington has economic forecasters nationwide biting their nails. Here in Austin, it’s a population boom that we’re facing, according to an economic forecast for next year released this morning by Angelou Economics.
Austin is growing by leaps and bounds. New hotels are popping up everywhere. And the city’s economy will continue growing. Angelos Angelou, an economic forecaster, expects 130,000 people to move to Austin over the next two years. But Angelou warns there’s a kryptonite to this super story.
“The only factor that can reduce our growth is transportation, if we don’t build our infrastructure, if we have gridlock just like the Silicon Valley did in the ’80s ,” Angelou said. “If we cannot provide the water for our new growth or even electricity, then obviously that rate of growth is threatened long-term.”
Angelou’s advice to Austin city officials is to stop counting on state or federal transportation dollars and to start investing in a fund to relieve traffic congestion.