Economy

Texas
4:49 pm
Wed February 8, 2012

Texas Comptroller's Report Assesses Drought's Impact

A report from Texas Comptroller Susan Combs says economic effects of the drought could reach into billions of dollars.
Image by Todd Wiseman, Texas Tribune

A 12-page report released Wednesday by the Texas comptroller's office offers a wide-ranging look at the effects of the record drought that is still gripping Texas.

The report, "The Impact of the 2011 Drought and Beyond," contains few new figures for drought losses but offers graphics that depict the breadth of the problem, which hurt crops, threatens electricity production and forced 55 communities to ban outdoor watering.

"Texas is prone to cycles of drought which makes it important for residents, businesses, and state and local governments to manage water use," Comptroller Susan Combs said in a prepared statement. "Every Texan has a stake in water issues the state faces.”

Despite recent rains, 95 percent of the state remains in drought.

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Austin
11:03 am
Wed February 1, 2012

A Record-Setting Year for Austin’s Airport

Austin Begstrom had a record travel year in 2011, handling over nine million passengers.
Photo courtesy flickr.com/ajanhelendam

If Austin Bergstrom International Airport (ABIA) seemed crowded last time you flew, there’s a reason for that: ABIA announced a record travel year for 2011, with over nine million total travelers. That’s a five percent bump over last year’s takeoffs and departures.

Southwest Airlines leads the pack, with 3,325,925 passengers served out of ABIA. American Airlines came in second at 1,867,087.

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Austin
12:40 pm
Fri January 27, 2012

The Top 10 Austin Top 10 Lists

Austin: One of the fittest, most intelligent cities poised for greatness to do business in.
Photo courtesy commons.wikimedia.org/wiki/User:LoneStarMike

It’s gotten so that you can hardly count to ten without hearing about Austin’s latest accolade. Between high profile cultural events, the economic insulation of vast state and university employment, and a relatively affordable quality of life (at least compared to coastal enclaves like Los Angeles and New York), it’s not surprising everything’s coming up Austin.

But who can keep this procession of plaudits straight?

To get a gauge of just how many Austin-happy rankings are floating around at any one time, we looked for “best cities” rankings including Austin over the last two months. And from that, we compiled this meta-masterlist, a Top 10 of the city’s most recent Top 10 rankings ranging from the apparent, to the arbitrary, to the really, really arbitrary. 

So without further ado, Austin’s Top 10 Top 10 Listings:

  1. Green Tech Go: While it doesn’t rank Austin along other cities, this love letter from Time Magazine declares Austin has become “America’s Clean-Tech Hub.” It links growth in Austin’s nascent green and clean technology to its past performance in the semiconductor industry, and gives a shout out to the Pecan Street Project energy distribution experiment.
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Lance Armstrong
3:42 pm
Thu January 26, 2012

Introducing ATX Index: A Look at Austin Around the Web

In which we serve a heaping helping of links for your reading pleasure:

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Austin
4:55 pm
Tue January 24, 2012

Austin: Good Place for Jobs, Great Place for Techies

Austin salaries rank well among U.S. cities, with tech salaries leading the pack.
Huma Munir, KUT News

A wealth of employment and salary data for the Austin region has just been released, and it confirms Austin has become a high-tech capital.

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Politics
4:48 pm
Fri October 14, 2011

Morial: Recession Reversed Economic Gains For Many Blacks

Photo by Teresa Vieira for KUT News

The recession has stripped African-Americans of thirty years of economic gains, according to the president the National Urban League. Marc Morial was in Austin today to speak to a leadership summit hosted by the National Forum for Black Public Administrators.

"It has been difficult for white, Latino, Asian, all people.  But African-Americans have taken the toughest brunt of this,” Morial said.

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Austin
2:05 pm
Fri May 20, 2011

Austin Tops List of "Turnaround Towns"

Photo by KUT

We pretty much know we're awesome, but it's nice to hear it again and again. Austin made third place on CNN Money's list of "Ten Top Turnaround Towns". We even beat out Dallas, which ranked eighth. 

CNN Money said Austin has solid job growth, a relatively laissez-faire economy, and plenty of space to expand.

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economy
4:55 pm
Thu May 5, 2011

Standard & Poor's Bets Texas Economy Will Recover Quickly

Texas has a long road ahead before a complete economic recovery, but Standard & Poor's thinks the state will rebound faster than most.
Photo courtesy flickr.com/emdot/

The financial services company Standard & Poor's (S&P) is showing some love for the Texas economy today by granting the state's government bonds an AA+ rating.

In a press release, S&P analyst Horacio Aldrete-Sanchez said it was because the Texas economy is large, diversifying, and growing faster than the country's as a whole.

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Economic Development
3:56 pm
Tue February 8, 2011

Travis County Proposes Own Business Incentive Program

Travis County wants to create a business tax incentive to attract companies that can provide jobs for low-income residents.
KUT News

Travis County wants to become an economic stimulator. At their regular meeting, county commissioners discussed a proposal to amend the county tax code in order to offer an incentive for businesses that want to relocate to Travis County. The City of Austin and the State of Texas have similar programs, but commissioners are proposing something different.

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Business
7:55 am
Thu January 27, 2011

Live Blogging Angelou Economic Forecast

Can't afford the $165 registration to attend the annual forecast from Angelou Economics? Catch some of the details here.

Business
2:33 pm
Fri January 21, 2011

2nd Street District Retail Occupancy Expected To Reach 92 Percent This Year

Austin's Second Street District could fill some of its empty retail space this year with occupancy expected to reach 92 percent by the second quarter.
Image courtesy atmtx http://www.flickr.com/photos/atmtx/

The company that manages most of the retail space in the Second Street District downtown says it expects to reach a high water mark this year. AMLI Residential says 80 percent of the square footage is currently rented, and that should grow to 92 percent "by the end of the second quarter," according to AMLI retail manager Carrie Holt.

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Austin
11:20 am
Fri January 21, 2011

Local Workforce Grew By 16,600 in 2010 As People Flocked To Austin

Image by Tommy Klumker http://www.flickr.com/photos/tomask/

We received more hard data today showing how more people are moving to Austin and looking for work.  The latest unemployment survey from the Texas Workforce Commission shows the workforce in the Austin-Round Rock-San Marcos area increased from 892,700 in December 2009 to 909,300 last month, a difference of 16,600.

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Business
12:08 pm
Fri January 14, 2011

As Austin Gas Prices Rise To $2.91, Get Ready To Shell Out Even More

Image by Erik Reyna for KUT News

The latest fuel price report from AAA says Austin gas prices have risen to an average of $2.91 for a gallon of regular unleaded. That's up about 10 cents from last month and almost 30 cents higher than it was this week last year. And most signs point to gas prices climbing even higher.

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Politics
11:19 am
Thu January 6, 2011

Are Looming Job Cuts At TEA Sign Of Things To Come?

Most Texas Education Agency employees work in the Wililam B. Travis building on Congress Ave. near 17th St. A letter to employees from Education Commissioner Robert Scott is promising job cuts at the agency this year.
Image by Nathan Bernier for KUT News

Texas Education Commissioner Robert Scott sent a letter to staff this week, welcoming them back to work from the holidays and warning them they might be fired. With state lawmakers ready to begin a legislative session next week that will require closing a budget gap as big as $25 billion or more, is this an impending sign of the pain that will be wrought on Austin's economy?

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Austin
3:11 pm
Mon January 3, 2011

Austin Ranked Third Best City For Young Entrepreneurs

Image by Nasha Lee for KUT News

The Live Music Capitol of the World has topped another list of awesome cities. This time, it's the Under30CEO.com list of Top 10 Cities for Young Entrepreneurs in 2010.

Coming in third place right behind New York City and San Francisco, Austin is praised for all the familiar reasons:

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economy
11:16 am
Fri December 17, 2010

Latest Jobs Figures Show More People Employed In Austin Area

Austin continues to weather the economic storm, but how many public sector jobs will disappear with state budget cuts?
Image courtesy Stuck in Customs http://www.flickr.com/photos/stuckincustoms/

The Austin-Round Rock-San Marcos area added 17,700 jobs over the last 12 months, according to statistics released this morning by the Texas Workforce Commission. But because the size of the labor force also grew, the unemployment rate actually edged upwards to 7.1 percent in November 2010 compared to 7 percent in November 2009.

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Business
2:12 pm
Thu December 9, 2010

Economic Forecasters Expect More Jobs In Austin Even With State Cutbacks

Four economists offered their predictions for next year at an event sponsored by the Austin Chamber of Commerce
Image courtesy Austin Chamber of Commerce

Job growth in the private sector will more than make up for anticipated government job cuts next year, according to a series of economic forecasts presented today by the Austin Chamber of Commerce.

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economy
5:06 pm
Wed December 8, 2010

People Buying More In Austin Than Last Year But Less Than 2008

Image courtesy peasap http://www.flickr.com/photos/peasap/

The latest sales tax collection numbers show the state collected $10.56 million in Austin last month. That's an increase of about 0.11 percent from the $10.54 collected in the same month last year. But it's substantially less than the $11.56 million in sales tax collected in Austin in November 2008.

The numbers suggest the Austin economy is more active than it was 12 months ago, but still has yet to recover from the pain inflicted by the national recession.

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economy
4:09 pm
Wed December 1, 2010

Austin Is Top American City On Most Dynamic Cities List

Image by Nasha Lee for KUT News

Austin is the 26th most dynamic city in the post-recession world, according to a new report by the Brookings Metropolitan Policy Program.

The Global MetroMonitor report looks at cities' economic output and employment and ranks them based on how much they "punch above their weight."

Austin was the only American city in the top 30. Istanbul topped the list.

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Economy
3:44 pm
Fri November 19, 2010

Texas Economy Added Almost 48k Jobs in October, Unemployment Steady

Construction industry employment went up 8,800 in October
Photo Courtesy of Bill Jacobus

Texas total nonfarm employment was up by 47,900 jobs in October, according to a Texas Workforce Commission (TWC) press release. This number accounts for an impressive third of the 151,000 jobs the entire U.S. economy added in the same period.

“Every major industry added jobs in October with notable increases in Construction employment” said TWC Chairman Tom Pauken.

TWC also released that the unemployment rate stayed steady at 8.1 percent, a substantial percentage and a half less than the country’s, which is currently at 9.6.

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