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Is there no stopping this city? Forbes ranks Austin No.1 for fourth-straight year

Posted by: In: Industry Insights 17 Feb 2014 Comments: 0

(Austin Business Journal) Austin’s accolades keep piling up. After the city ranked at or near the top of most economic polls and surveys in 2013, the Texas capital has started 2014 right where it left off, ranking No. 1 on Forbes’ list of the country’s fastest-growing cities for the fourth year in a row.

Forbes noted that Austin had a 2.5 percent estimated population growth in 2013 — the highest of all geographic regions in the country. It’s something that Austin demographer Ryan Robinson laid out in his latest findings that estimate how many people are moving to the Austin area every day.

Forbes also noted that Austin’s economy grew at a stellar 5.9 percent in 2013. That’s pretty hard to beat, the report said.

Houston, which has ranked near the top of the list in recent years due to the huge surge in domestic oil and gas production, may be seeing its sizzle start to fizzle. The city fell all the way from No. 2 last year to No. 10.

After Austin, the rest of the top five fastest-growing cities in the country are Raleigh, N.C.; Phoenix; Dallas (down from No. 3 a year ago); and Salt Lake City. San Antonio is ranked No. 20 this year.

Texas’ strong population growth, unemployment rate under 6 percent, business-friendly regulatory environment, lack of state income tax and highly educated labor market helped it put four cities on the list. Florida was the only other state with that number of cities. Read the complete Forbes report here.

Forbes’ analysis of the 100 largest U.S. metropolitan statistical areas was based on six metrics, including estimated rates of population growth for 2013 and 2014, job growth for 2013 and gross metropolitan product growth for 2013.

To view the Austin Business Journal article, click here.

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