New numbers: It's the roaring '20s in Austin - for now
Austin to have the second fastest growing economy behind San Francisco.
Austin to have the second fastest growing economy behind San Francisco.
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Credit the tech and manufacturing sectors for much of the rise in 2022. Big factories have opened on the fringes of Austin recently Tesla Inc.'s gigafactory is the biggest example and closer to the city's core tech giants such as Google, Facebook and Apple have continued to ramp up by taking towering buildings for even more workers.
Local small businesses, the backbone of the economy, continue to widely put up impressive gains, too. The ABJ's recent archives are brimming with stories of retailers and restaurateurs executing multi-location expansions.
But, as the Kenan Institute report notes, Austin is being buoyed tremendously by huge and growing tech companies providing high-dollar services to the world from Austin.
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