Approximately 38,000 private business establishments have chosen Austin to grow their businesses. It’s easy to see why.
Austin is a city with boundless energy and creative ideas. The region houses one of the fastest growing major job markets in the United States with a youthful, well-educated workforce. College graduates make up over 40% of the adult population and nearly half the region's population is between 18 and 44 years old. The region’s population has grown by almost 40% in the last decade.
Austin is recognized across the globe for its great quality of life and dynamic high-tech economy with over 3,300 technology companies and 100,000 technology workers calling it home. The median home price is 23% below the national average and Austin has the highest per capita income of Texas cities.
These conditions combine to create the strongest business climate in the United States, an ideal location for foreign companies looking to enter the U.S. market. Companies such as Freescale Semiconductor, Dell, Whole Foods and National Instruments are just some of the businesses with global operations located in the Austin area.
More reasons to invest here:
- No personal or corporate income tax and one of the lowest state and local tax burdens in the United States
- A creative population: our labor force is world-renowned for its entrepreneurial and creative spirit, and a rich pool of intellectual talent and leadership
- A hotbed of commercialization with university programs such as IC2 at the University of Texas and community efforts such as the Clean Energy Park and Advanced Technology Development Facility
- Over 138,700 students attending 23 local colleges and universities
- Central location and time zone makes it easy to reach clients on either side of the continent
Besides being a great place to do business, Austin is one of the best places around to live and raise a family. Find out more.
The City of Austin is focusing on the growth and expansion of these target industries:
- Convergence Technologies
- Creative Media
- Clean Energy
- Corporate and Professional Operations
- Health Care & Life Sciences
- Advanced Manufacturing
- Texas Enterprise Zone Program- Austin can nominate up to 9 companies every two years to receive state sales and use tax refunds.
- State of Texas Incentives- Texas provides several tax exemptions or credits for firms in targeted industries, including solar energy, video game, and film companies. The Texas Enterprise Fund provides incentive awards to firms that will create a large number of high-paying jobs when a Texas location is in competition with another viable out-of-state option. Funds are also available for emerging technology companies to commercialize their products and develop public-private partnerships.
- Utility Incentives- Lower your long-term costs by taking advantage of Austin Energy’s energy efficiency rebates of up to $200,000.
- Local Incentive Packages- The City of Austin’s Economic Development Department works with businesses interested in relocating or expanding their operations to develop incentives for local job creation.
- Freeport Exemption Program- An exemption from ad valorem taxation is available for “Freeport property”—goods that are detained in Texas for less than 175 days for the purpose of assembly, storage, manufacturing, processing, or fabricating.
Services and Support Programs
Austin has a strong track record of helping businesses thrive and grow. Our city offers a wealth of resources for all our companies, from small start-ups to Fortune 500 firms.
- Global Commercialization Group- catalyzes emerging knowledge-based economies throughout the world by bringing innovative technologies to global markets.
- Austin Technology Incubator- provides counsel and infrastructure support to technology companies to help them transition into high-growth firms.
- The Landing Pad Program-Austin Technology Incubator’s Landing Pad program is designed to accelerate the acculturation of a company into the Austin ecosystem.
- The Austin U.S. Export Assistance Center- Trade experts assist Austin firms in exporting their products/services by providing comprehensive counseling and advice, through timely and accurate intelligence regarding foreign markets, by identifying qualified international buyers and representatives, by advocating on their behalf, and by providing comprehensive solutions to whatever challenges they may encounter.
City of Austin Programs
- Small Business Development Program – SBDP’s Business Solutions Center is a one-stop shop for small business owners, offering assistance with technology and resources and hosting a variety of educational classes and events.
- International Trade and Investment Program – Provides assistance to international companies establishing operations in Austin and to local businesses interested in expanding to international markets. Services include one-on-one coaching, mentoring, industry connections, business forums, and seminars featuring local and regional advice.
For more information on investing in Austin, contact David Colligan, Global Business Recruitment and Expansion Manager, at 512-974-6681.