Key trends in the Austin economy

1. Austin Economy: The Elevator Pitch
November 9, 2012

2. Despite being only the 34th largest
metropolitan area, Austin ranks 10th in
population growth since 2001.
Austin is adding 50,000 people on
average annually since the start of the
recession in 2007—roughly equivalent
to adding a Cedar Park…every year.
Note: Data is for Austin-Round Rock-San Marcos MSA unless otherwise noted.
November 9, 2012 | Thinkers and Doers of Austin

3. Net Migration to Austin MSA from US MSAs, 2000-2010
Source: Internal Revenue Service
Blue –
Austin
gained
Pink –
Austin
lost
Austin gained 188,000 residents from other metro
areas between 2000 and 2010, the 9th highest total
among all US metro areas. People moving to Austin
accounted for 66% of population growth in 2011.
November 9, 2012 | Thinkers and Doers of Austin

4. Metro Area Real GDP Real GDP Austin economy grew by $26.6
billion between 2001 and 2010,
GDP ≥ $50B 2001-10 2007-10 a 48% growth rate second only
Portland 49% 6% to Portland among large metros.
Austin 48% 10% Since the start of the recession in
2007, Austin economy has grown
San Jose 43% 13% by at least $7.5 billion, a growth
Raleigh 33% 5% rate of 10% that is second only
to San Jose among large metros.
Orlando 31% -4%
Real GDP Per Capita, a proxy for
Washington 30% 6% standard of living, has increased
Las Vegas 26% -13% in Austin from 97% of US in 2001
to 104% of US in 2010—Austin is
Phoenix 25% -7% growing very quickly in absolute
terms and relative to US.
Salt Lake City 25% 2%
San Antonio 24% 3%
Dallas 24% 2%
Source: US Bureau of Economic Analysis
November 9, 2012 | Thinkers and Doers of Austin

5. Source: Prof. Michael E. Porter, Cluster Mapping Project, Institute for Strategy and Competitiveness, Harvard Business School.
November 9, 2012 | Thinkers and Doers of Austin

6. Austin: Growing Affluent
• 16,000 households in city of Austin earning at
least $200K in annual income, roughly double
what was in Austin ten years ago
• 70,000 households in city of Austin earning at
least $150K in annual income, 11% of all HHs
in Austin versus 9% nationwide
• Median household income in city of Austin
now at $57K versus $51K in US
November 9, 2012 | Thinkers and Doers of Austin

7. Key Challenge: Education/Training
Population, Age 25+ 2011 2000 Change Percent
No high school diploma 73,699 66,511 7,188 11%
High school diploma 87,132 68,316 18,816 28%
Some college, no degree 98,505 84,486 14,019 17%
Associate's degree 33,283 19,887 13,396 67%
Bachelor's degree 146,033 103,111 42,922 42%
Graduate/prof degree 88,437 58,826 29,611 50%
Source: US Census Bureau. Data is for city of Austin.
November 9, 2012 | Thinkers and Doers of Austin

8. Brian Kelsey, Principal
Civic Analytics LLC
brian@civicanalytics.com
512-731-7851
http://civicanalytics.com
@brianjkelsey
linkedin.com/in/brianjkelsey
November 9, 2012 | Thinkers and Doers of Austin