Austin named top large U.S. city for job growth, Milken report says

Jan 10, 2014
Austin Business Journal

Austin has been named the nation's best-performing large city in 2013 in terms of job growth and sustainability by the Milken Institute


The comprehensive economic report analyzed new jobs, wage and salary growth as well as technology industry growth including high-tech gross domestic product growth and concentration. After all of the numbers were crunched, the Austin-Round Rock-San Marcos came out on top


"[Austin] is a case study in concocting the proper recipe for economic vitality," the report stated. Austin has a business-friendly, low-tax, low-regulation climate and has had success both recruiting companies from out of state and encouraging local start ups


Milken also described Austin's economy as diverse, with growing hardware, system design and biomedical research sectors, among others. The financial services sector is also adding jobs, the report states


Austin has performed consistently well in the Milken rankings, though in 2012 the Texas capital was knocked off the top spot by the San Jose-Sunnyvale-Santa Clara metro area. Austin reclaimed its top spot this year, while San Jose fell to the fourth spot


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