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 Austin, Texas Economy
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Austin's Opportunity
Economy: A Model for Collaborative Technology
At a time when the technological lead of the United
States is being challenged around the
globe, a handful of American cities are centers for
intensive technology research and innovation. These
cities are also playing a critical
role in our nations economic competitiveness by encouraging
and supporting advances in science and technology.
Austin is one of the most successful
of these cities. For the past decade, city leadership
in business, government, and academia have collaborated
on realizing a vision for Austin's future that embraces
science and technology advances.
Government and local business officials have spearheaded
efforts, while the University of Texas has provided
significant financial incentives, accelerated certain
research programs, and
joined enthusiastically in Austin's marketing efforts.
Austin has landed an impressive array
of diverse technology operations, with a major new
announcement coming about every two to three years.
This brief list of companies and consortia with a
significant presence in Austin illustrates the impact of this
program:
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Entrepreneurial success Dell Computer
started in Austin in the early 80's and just
had fiscal year sales of over 3 billion dollars. |
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IBM now employs 8,000 people in Austin in research,
manufacturing, and support. |
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Advanced Micro Devices (AMD) employs nearly
4,000 at its Austin site, more than at its headquarters
in Sunnyvale, California. |
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Motorola and AMD both have wafer fabrication
facilities in Austin which are among the most
capital intensive facilities in any industry,
with each investment totalling over $1 billion. |
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3M Company now has six divisions headquartered
in Austin, with 1,600 scientists and research
technicians employed. |
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Applied Materials, the world's largest supplier
of equipment to the semiconductor industry, began
its first Austin facility in 1990. Applied Materials
is now planning a new facility and purchased
$750 million in goods and services in Austin. |
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Technology Research, the research and development
subsidiary of Southwestern Bell, is now moving
its operations to Austin. |
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Two research consortia dedicated to U.S. technological
leadership in computers and microelectronics,
the Microelectronics and Computer Technology
Corporation (MCC) and Sematech, are headquartered
in Austin. |
Austin's workforce is also among the most educated
in the country:
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32% of adults have 16
or more years of school (the equivalent of a bachelor's
degree). |
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Per capita bookstore sales in Austin are among
the highest in the U.S. |
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Approximately 100,000 adults (1 in 10), are enrolled
in higher education courses at the University of
Texas or one of six other colleges and universities
in
the area. |
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48,000 students are enrolled at the
University of Texas at Austin alone. This is the
third largest campus enrollment in the U.S. |
High Quality of Life
Quality of life in Austin has become
a key economic issue. To satisfy its aspirations to attract
and retain leading edge companies, Austin has developed
a rich artistic and cultural diversity,
while retaining enjoyable parks, uncontaminated water,
an easy commute, and top-quality schools. The issue of
growth that divides most communities can be an overarching
concept that unites Austin.
Climate for Entrepreneurs and Innovation
Entrepreneurial successes are legendary
in Austin, TX. Michael Dell began Dell Computer Corporation,
now a Fortune 500 company, in 1982 while he was a freshman
at the University of Texas. University engineering graduate
Frank McBee founded Tracor in the 1950s, which eventually
spawne Montopolis Research Park--a cluster of technology
companies totalling 25 spinoffs and more than
6,000 jobs to date.
The University of Texas favorable stance on allowing
faculty to reap financial rewards by retaining ownership
in their inventions further encourages new research startups.
Altogether, more than in most cities, Austin business
and university leaders treasure, support, and encourage
young companies because of the awareness that they may
not only succeed individually, they could also spin off
the science and technology successes for the future. |
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