Austin Job Growth Remains Strong!

As reported in today’s Austin American Statesman, the Austin job growth continues to surge and outpaces the state and national averages by a long shot. In September and October (the two months are combined because you may remember we had a government burb the closed down government) local employers added 11,600 jobs (isn’t that the size of a small city?). The unemployment rate dropped to 5.1% which is 1 point lower than the Texas rate and 2 points lower than the national rate. Drew Scheberle of the Greater Austin Chamber of Commerce was quoted as saying that high-wage and middle-wage jobs are absorbing the new comers.

This is all great news for those of us that own Austin area residential rentals. Area rents continue to increase as there is continued demand for good rent housing.

400 New Jobs Coming to the Austin Area

Walmart, as reported in today’s Austin American Statesman, is opening 2 new stores in our area that, between the two of them, will employ 400 full time and part time employees. The stores are planned for Elgin and Manor. Employees will start working in January, 2014.

This is just another sign of how our area is growing. In watching all of these events unfold, I first saw the people coming to our area, and that is still happening. Now, the picture is getting cloudy, it seems that retailers are coming before the people get here so as to have a head start on the competition. So long as they bring jobs and people with them, come on we have rent houses waiting for you!

The “Austin Brand”

In the Sunday Austin American Statesman of 9 Nov 13 there was an excellent article about how the F 1 race event puts the spotlight on the Austin brand. Next week will be the second year for Austin to host the event which will give it world wide exposure estimated to be the equivilent of $190 million in free adverstising! Branding is defined as creating and maintaining a unique perception, and Austin is “very unique” and this uniqueness is in part why business relocate here, and that in turn is why it makes good sense to own Austin area real estate. The article stated that the Austin uniqueness is centered around F 1 and extreme sports, music festilviles, restaurants, high tech, and the film industry. (Note that since the 1990’s that over 200 movies and TV shows have been filed here and that too is great free advertising). To this you could also add not so unique and hum drum things like the University of Texas and Austin being the state capitol, and of course its location at the tip of the “Hill Country of Texas”. Kiplinger’s rated Austin as one of the best city of the next decade. Now who wouldn’t want to own a piece of prosperity?

Rick Ebert/Austin, Texas/9 Nov 13

Oracle Expanding Austin Area Operations

More great news folks: Oracle is the second largest software company and they are expanding their already extensive operations here even more! This apparently is going to be a slow expansion but they plan, according to the Austin American Statesman, to add another 200 jobs here by 2017. The reported average wage for those jobs is in the neighborhood of $68K yearly. Can we tell them to leave their cars at home-the traffic here is the 4th worst in the USA. I guess it is the price of a booming economy. I won’t complain as it is a great time to own Austin area real estate-these new Texans have to live somewhere!

Rick Ebert/Austin, Texas/6 Nov 13

My Fit Foods HQ has Moved to Austin

My Fit Foods is a company selling pre-packed healthy and fit foods has moved its headquarters from Houston to Austin as reported on local TV stations and in the Austin American Statesman. They currently have 30 employees at their HQ and will hire an additional 20 to fill out their roster. My Fit Foods has 13 Austin locations and 70 thoughout the US. The change was made according company officials because of the economic climate of Austin coupled with the availability of local talent. Next year the firm plans on adding an additional 15 stores. I gotta tell ya, that I have used their meals when the chief cook has been away, and they are not only healthy, but taste great!

 

Rick Ebert / Austin, Texas / 3 November 13