From News 8 Austin, April 29, 2009...
The City of Austin is fast-tracking the awarding of contracts for roadwork and other projects approved under a 2006 bond election.
The program, Accelerate Austin, aims to move on more than $69.1 million in improvements within the next 18 months. The city held an orientation for businesses interested in the stimulus program Tuesday.
The city said the projects will help boose the local economy, creating about 300 area jobs. They also said the negative impact of the recession on the construction industry means the city could save some money.
Read more...
Showing posts with label Austin Economy. Show all posts
Showing posts with label Austin Economy. Show all posts
Wednesday, April 29, 2009
Thursday, March 5, 2009
Mueller development a hot spot in Austin economy
From KVUE, February 27, 2009...
The Mueller development, which houses the Dell Children's Medical Center, is less than 10 years old but is proving to be one of the hot spots in the Austin's down economy.
It's unusual not just because of its rapid growth, but also because its location in Central East Austin was once considered "undesirable" by some in West Austin who rarely crossed east of Interstate 35.
Read more...
The Mueller development, which houses the Dell Children's Medical Center, is less than 10 years old but is proving to be one of the hot spots in the Austin's down economy.
It's unusual not just because of its rapid growth, but also because its location in Central East Austin was once considered "undesirable" by some in West Austin who rarely crossed east of Interstate 35.
Read more...
Sunday, January 25, 2009
Economic forecast predicts slowdown, opportunities for Austin
From Impact News, January 15, 2009...
Local economist Angelos Angelou, founder of Austin-based AngelouEconomics, presented projections at the Angelou Annual Economic Forecast Event on Jan. 15 that Austin will see slow job growth but also opportunities as Central Texas continues to fare better than the rest of the nation.
Read more...
Local economist Angelos Angelou, founder of Austin-based AngelouEconomics, presented projections at the Angelou Annual Economic Forecast Event on Jan. 15 that Austin will see slow job growth but also opportunities as Central Texas continues to fare better than the rest of the nation.
Read more...
Friday, January 23, 2009
City of Austin freezes hiring and wages
From Austin Business Journal, January 16, 2009...
Citing the effect of current economic woes, the city of Austin is enacting a hiring freeze effective immediately.
City Manager Marc Ott sent a memo to all city employees on Friday detailing a plan to put a hold on all new hires.
Ott also said he is postponing the second phase of an annual review of the city’s wages that was scheduled to occur this month, effectively freezing employees’ wages.
Read more...
Citing the effect of current economic woes, the city of Austin is enacting a hiring freeze effective immediately.
City Manager Marc Ott sent a memo to all city employees on Friday detailing a plan to put a hold on all new hires.
Ott also said he is postponing the second phase of an annual review of the city’s wages that was scheduled to occur this month, effectively freezing employees’ wages.
Read more...
Austin outlook: A rocky year ahead
From statesman, January 16, 2009...
Economist Angelos Angelou on Thursday painted a picture of Austin in 2009 that doesn't look pretty: anemic job growth, falling average wages and retail sales, and sharply rising vacancy rates for commercial real estate and apartments.
It was one of the gloomiest Austin forecasts that Angelou has given in 25 years.
But, bad as it is, he said that Austin will look good this year compared with the rest of the country.
Read more...
Economist Angelos Angelou on Thursday painted a picture of Austin in 2009 that doesn't look pretty: anemic job growth, falling average wages and retail sales, and sharply rising vacancy rates for commercial real estate and apartments.
It was one of the gloomiest Austin forecasts that Angelou has given in 25 years.
But, bad as it is, he said that Austin will look good this year compared with the rest of the country.
Read more...
Thursday, January 22, 2009
Economist: Tough times still ahead for Austin
From KVUE, January 14, 2009...
The Austin area will likely continue to see cutbacks and layoffs for at least a few months, according to economist Ray Perryman, who released his much-anticipated annual forecast Wednesday during a speech at the Four Seasons.
He said the local economy should begin to turn around late this year.
Read more...
The Austin area will likely continue to see cutbacks and layoffs for at least a few months, according to economist Ray Perryman, who released his much-anticipated annual forecast Wednesday during a speech at the Four Seasons.
He said the local economy should begin to turn around late this year.
Read more...
Deeper cuts may follow Central Texas sales tax declines
From statesman, January 10, 2009...
Austin and other area governments may be forced to deepen spending cuts, based on the latest report of sales tax revenue from the state comptroller's office.
The report, which analyzes November sales tax receipts, shows that the state is slightly up overall in the face of declining national spending.
But cities such as Austin and Round Rock, which have anxiously watched their declining revenue, saw a deepening slide during the last fiscal year.
Read more...
Austin and other area governments may be forced to deepen spending cuts, based on the latest report of sales tax revenue from the state comptroller's office.
The report, which analyzes November sales tax receipts, shows that the state is slightly up overall in the face of declining national spending.
But cities such as Austin and Round Rock, which have anxiously watched their declining revenue, saw a deepening slide during the last fiscal year.
Read more...
Saturday, December 27, 2008
Good news/bad news local economic outlook
From KVUE, December 19, 2008...
Jobs continue to be added, but our un-employment rate rose slightly last month.
We all know the Austin area economy has been strong compared to other areas of the country.
But economists have warned that Austin is not impervious to what is happening economically around the country and around the world.
And the latest numbers may bear that out.
Read more...
Jobs continue to be added, but our un-employment rate rose slightly last month.
We all know the Austin area economy has been strong compared to other areas of the country.
But economists have warned that Austin is not impervious to what is happening economically around the country and around the world.
And the latest numbers may bear that out.
Read more...
Thursday, September 25, 2008
Austin economy ranked 39th in the country in 2006
From Austin Business Journal, September 25, 2008...
Just as the nation is struggling to avoid a potential financial crisis, new figures released on Thursday show just how well the economy was performing in recent years.
The gross domestic product—or total value of goods and services produced by labor and property—grew in 308 of 363 U.S. metropolitan areas between 2005 and 2006, according to data from the Bureau of Economic Analysis.
In Austin, the GDP hit $71 billion in 2006, up 11 percent from $64 billion in 2005, figures show. Private industry made up most of those totals, accounting for $56 billion of GDP in 2005 and $61 billion in 2006. The local economy ranks 39th in the nation.
Read more...
Just as the nation is struggling to avoid a potential financial crisis, new figures released on Thursday show just how well the economy was performing in recent years.
The gross domestic product—or total value of goods and services produced by labor and property—grew in 308 of 363 U.S. metropolitan areas between 2005 and 2006, according to data from the Bureau of Economic Analysis.
In Austin, the GDP hit $71 billion in 2006, up 11 percent from $64 billion in 2005, figures show. Private industry made up most of those totals, accounting for $56 billion of GDP in 2005 and $61 billion in 2006. The local economy ranks 39th in the nation.
Read more...
Tuesday, September 16, 2008
Austin economy ranks 4th on Milken/Greenstreet list
From Austin Business Journal, September 16, 2008...
Even in a tougher economy Austin is still outperforming many other areas of the country in job creation and other economic markers.
The Austin-Round Rock region ranks 4th among the country’s largest metropolitan areas on the Milken Institute and Greenstreet Real Estate Partners’ 2008 Best Performing Cities list. That’s a dramatic improvement from Austin’s 20th place ranking on last year’s list. The list ranks cities according to a series of matrices such as job creation and salary and technology growth.
Read more...
Even in a tougher economy Austin is still outperforming many other areas of the country in job creation and other economic markers.
The Austin-Round Rock region ranks 4th among the country’s largest metropolitan areas on the Milken Institute and Greenstreet Real Estate Partners’ 2008 Best Performing Cities list. That’s a dramatic improvement from Austin’s 20th place ranking on last year’s list. The list ranks cities according to a series of matrices such as job creation and salary and technology growth.
Read more...
Monday, August 18, 2008
Economist: Austin will recover faster than the rest of the U.S.
From Austin Business Journal, August 18, 2008...
In the coming year Austin will outperform the rest of the country in job growth and in the health of its housing market, according to Mark Dotzour, chief economist at Texas A&M University's Real Estate Center.
Austin will add 8,500 new jobs between now and August 2009, despite a negative job growth across the country, he says. The local housing market will turn around faster than the rest of the country by next summer, Dotzour predicts.
Read more...
In the coming year Austin will outperform the rest of the country in job growth and in the health of its housing market, according to Mark Dotzour, chief economist at Texas A&M University's Real Estate Center.
Austin will add 8,500 new jobs between now and August 2009, despite a negative job growth across the country, he says. The local housing market will turn around faster than the rest of the country by next summer, Dotzour predicts.
Read more...
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