Austin Ranks Second-Best Tech Metro in the South for 2024

News Summary

Austin has been recognized as the second-best tech metro area in the South for 2024 according to a study by CommercialCafe. With a growth of 25% in tech companies and major players like Apple and Google establishing offices here, Austin is a vibrant hub for technology. Washington, D.C. took the top spot due to its tech job density and salaries. The overall tech scene in Austin continues to thrive, attracting talent and investment, supported by local universities and a collaborative ecosystem.

Austin Shines Bright as Second-Best Tech Metro Area in the South for 2024

Good news for the tech lovers of Austin! According to a recent study from CommercialCafe, our beloved city has been named the second-best metro area for tech in the South for 2024. The only city that outshined Austin is Washington, D.C., which took the top spot thanks to its impressive tech job density and high median salaries. But hey, coming in second isn’t too shabby, right?

A Glance at Austin’s Tech Scene

Why is Austin capturing so much attention in the tech world? Well, one of the key points is the city’s incredibly diverse tech landscape. Over the past few years, from 2019 to 2023, the density of tech companies has seen an impressive 25% growth. This has led to nearly 50 out of every 1,000 businesses in Austin being tech firms. Big names like Apple, Google, Dell, and ABBYY have all planted their flags in Austin, adding to the vibrant tech community.

What Makes Austin Stand Out

Aside from the big players, the energy of events like SXSW plays a huge role in Austin’s reputation as a tech powerhouse. The combination of innovation, creativity, and a collaborative atmosphere continues to draw in talent and investment from all over. It’s not just about the companies; it’s the entire ecosystem that makes Austin a hotbed for tech opportunities!

A Comparative Look

71 points. This ranking was largely driven by their high tech establishment density, which sits at about 80 per 1,000 businesses, along with a median tech salary of $122,000 annually. This puts a spotlight on just how competitive the tech landscape in the South has become.

Other Texas cities also fared well in the study. Dallas snagged the fourth position due to its diverse economy, though its tech establishment density is lower than Austin’s. Meanwhile, Houston found its place at ninth, experiencing challenges with tech employment density but topping the charts in tech patents granted over a five-year period.

Crunching the Numbers

The study evaluated a total of 20 Southern metro areas, all with populations over 200,000. These scores were derived from factors such as tech job density, median earnings, tech companies, and quality of life metrics. Speaking of quality of life, did you know that tech jobs in Austin make up a whopping 16% of all jobs? This is notably higher than the national average of 9%!

The Talent Pipeline

Austin’s strong performance is also heavily influenced by the presence of notable universities like the University of Texas, which continually fuels the area with fresh talent. Additionally, you might have heard about Fayetteville, Arkansas; it led the South with a stunning 45.3% increase in median tech earnings, showing that the tech salary scene is getting better across the board.

Quality of Life Comparisons

In the wider Southern region, other cities also received attention for their quality of life. Charlottesville, Virginia, excelled in low unemployment rates and reasonable cost of living, and although Huntsville, Alabama dropped from first to second in quality of life this year, it remains notable for low unemployment and job stability. Wilmington, North Carolina also made headlines with significant growth in both tech company density and job opportunities.

Looking Ahead

It’s worth noting that more than 12 Southern metros have tech salaries now exceeding $100,000, reflecting a strong market demand for tech talent. While some established cities have seen minor declines in tech establishment growth, the overall picture shows a resilient Southern tech landscape. As companies are on the hunt for cost-effective locations with a skilled workforce, places like Austin are becoming increasingly attractive.

So here’s to Austin, the city that just keeps getting better in the tech game. Here’s hoping for more growth and innovation in the coming year!