Austin near top in Forbes' ranking of best U.S. cities for future job growth

Jul 24, 2014
Austin Business Journal

Austin is ranked No. 2 in Forbes.com's listing of the best U.S. cities for future job growth over the next three years and is one of five Texas cities to make the cut


With projected annual job growth of 4.1 percent and the unemployment rate at 4.1 percent, Austin is proving to be an attractive option for several companies that want to take advantage of the strong local workforce


The Lone Star capital boasts the third-highest net migration rate in the U.S. during the past five years, Forbes reported. The median household income is $58,932


In the past few months, several California-based companies and startups are either expanding their services to Austin or adding an office here:


• In May, San Francisco-based Instacart LLC launched its one-hour grocery delivery service in Austin, and San Francisco-based food technology startup Cater2.me began its catering services in the city with Dropbox Inc. as one of its pre-launch clients.


• Florida-based SoftServe Inc. relocated its headquarters to downtown Austin and has been operating a local office since late 2013


• San Francisco-based Dropbox Inc. opened its second office outside California at 515 Congress Ave in May. Dropbox already employs 40 workers in Austin and has plans to employ 200 workers here by the end of 2015


• With Congress Avenue in downtown Austin slowly becoming a miniature tech corridor, California-based Dropbox competitor Box Inc. is also set for its expansion to Austin in the fall and has plans to open an office right across the street from Dropbox at One American Center. Postmates Inc. CEO Bastian Lehmann brought his on-demand local delivery app to Austin in early June


• And just this week, San Diego-based semiconductor chip designer Encore Inc. said it has opened an Austin development office as part of a nationwide expansion strategy



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