Austin: Tech Market Overview 2021
Austin is probably the most attractive city in Texas for young IT professionals that seek a promising career in the industry. Also called Silicon Hills, Austin has known an increasing number of IT companies relocating or opening new offices. Some of the most prominent names speak for themselves: Google, Facebook, or Oracle are only a few to name from tech giants that have an interest in the talent pool from Austin.
Recently Apple announced that will invest $1bn USD, in offices in Austin, which makes the city a fast-developing tech hub in the country.
There are some 7000 professionals engaged in the High Tech industry working for SME, but the number is expected to grow with additional 15,000 IT professionals, according to Business Insider.
However, the overall number of employees in the Tech industry in 2017 was estimated to be around 138,000+, which makes 14.1% of the entire workforce in Austin. Compared to the national average - 7%, Austin has twice more.
Austin payroll in the tech industry reached $15,6bn, which is more than a quarter of the entire payroll of the Austin metropolitan area according to Austin Chamber.
This makes the IT industry a part of the city’s economic backbone, if not the most important part.
In 2017, in Austin were located over 6400+ IT companies, out of which only 309 were new startups in the year of the report.
All in all, Austin, considered as the Silicon Hills of the US, created a positive image as a tech hub and one of the most digitalized cities in Texas, and why not in the entire US. Since an increasing number of IT companies are attracted by this location, and taking into consideration the talent pool, Austin could become.