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The Surge: November 2024

Moving Forward Together:

In recent weeks, Austin took a significant step forward in securing our community’s safety and well-being. With the approval of a new police contract, we’ve reached a milestone that promises to enhance our public safety framework, address staffing shortages, and strengthen the trust between our officers and residents. Opportunity Austin was proud to collaborate with a broad coalition of community leaders and organizations to advocate for these advancements, emphasizing a commitment to safety that’s essential for our region’s continued growth. It’s important to acknowledge the leadership shown by our elected leaders too, especially Mayor Watson.

This time of year reminds us that decisions made at all levels of government shape the future of our communities. While the recent election will usher in some changes within our City, State, and Federal governments, know that Opportunity Austin is committed to advocating for the interests of our region—working alongside local and national leaders to build a safe, prosperous, and thriving Austin for all.

Thank you for your continued support.

— Ed Latson, CEO, Opportunity Austin

FEATURED ARTICLES

Top Innovation Hubs To Watch: Austin, Texas has evolved from an emerging tech hub to an established, globally competitive market. Recognized as the #1 Market to Watch by Jones Lang LaSalle (JLL), Austin’s innovation landscape brings together research, development, and collaboration, positioning it as a “hub of hubs” where groundbreaking advancements flourish.

Austin-Bergstrom’s Concourse B project awarded $33.27 Million from Bipartisan Infrastructure Law:  Austin-Bergstrom International Airport (AUS) announced it has been awarded $33.27 million from the Federal Aviation Administration’s (FAA) Airport Terminal Program as part of the Bipartisan Infrastructure Bill. 

Factory-made homes headed to Lockhart: Austin-based Amherst Group will create a subdivision in Lockhart made of pre-constructed homes, the company tells Axios. The development, called Firefly, will add 145 homes to the growing town, which has boomed in recent years as Austin’s rapid growth expands into surrounding communities.

 

From our blog

Austin Police Contract – Approved:

The City of Austin has approved a new police contract that aims to improve public safety, address critical staffing shortages, and restore trust within the community. This landmark decision represents a commitment to bolstering safety in key areas, particularly downtown, where residents, businesses, and visitors face increasing pressures due to limited safety resources.

 Press release.

Austin Job Growth & Unemployment Update: October 2024:
Austin is the 11th best performing among the top 50 metros, adding 27,300 jobs, or 2.0% growth, in the year ending in September. The fastest job growth over the last 12 months occurred in Austin’s construction and natural resources (6.3%) and leisure and hospitality (4.8%) industries.
 
 
Preparing Our Future Workforce to Support Manufacturing Growth:

The COVID-19 pandemic exposed vulnerabilities in global supply chains, leading to material shortages and logistics disruptions that have impacted Austin’s growing manufacturing sector. As regional and industry growth continue (24% industry growth over the next 10 years), local manufacturers must address labor shortages and invest in developing their workforce to build a more resilient and adaptable supply chain infrastructure.

Read the blog.

2024 A-LIST Awards

Opportunity Austin proudly hosted the 13th Annual A-LIST Awards, celebrating the startups, entrepreneurs, and industry leaders driving the Central Texas innovation ecosystem forward.

This year’s Ecosystem Leader of the Year award went to Tyson Tuttle, Founder & CEO of Circuit, for his transformative impact on Austin’s tech community.  The People’s Choice Award, decided by community vote, was awarded to Verisoul.

Thank you to everyone who joined us and to our sponsors for making this event possible.

For a full list of winners and event highlights, click here.

LET’S STAY CONNECTED

For businesses: Opportunity Austin is able to provide confidential support for projects, including real estate research, and the facilitation of all aspects of the site selection process.

For start ups & fundersMore and more creativity, innovation, & collaboration. The Austin Region is a magnet for innovation and entrepreneurship, attracting diverse industries and fostering growth of established companies and startups.

 

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The Austin region’s growth story is being shaped by activity happening across every layer of the ecosystem. University research is fueling the next generation of startups and breakthrough technologies, industrial investment is expanding into fast-growing communities across Central Texas, and global engagement continues to strengthen the region’s international connectivity.

Austin is emerging as a strategic aerospace and defense hub, driven by talent, innovation ecosystems, federal alignment and a strong pro-business environment.

Economic Indicators is a numbers update on select indicators in the Central Texas region that chronicle economic activity on a monthly or quarterly basis. The report and associated Excel files are posted on or about the first Wednesday of the month.

Several recent developments point to how the Austin region’s innovation economy is evolving in real time. Breakthroughs in emerging sectors like aerospace and defense, life sciences, and digital infrastructure are being matched by record levels of startup investment and top national job growth rankings. Together, these signals reflect how emerging technologies are translating into tangible economic outcomes across the region. Workforce development and infrastructure are advancing in parallel, aligning talent and capacity with the needs of these industries and supporting the region’s ability to scale.

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