Austin: The Technological Capital of the World – A Report by Moove It – Online Free Press release news distribution

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Austin, TX, USA, 7/14/2021 / Moove It /

It seems like Austin, Texas is topping a new growth list in the tech industry almost every day.

According to Microsoft Corp.’s LinkedIn profiles. Austin was listed as the biggest beneficiary of technology migration last year.

For every 10,000 existing employees of software and information technology companies in the Texas capital, Austin recorded a net inflow of 217 new Microsoft employees from May 2020 to April 2021. Austin had the best net migration rate, with at least 2,000 Linkedin users migrating in the past 12 months, compared to 35 metropolitan areas.

Austin has been growing steadily as a technology hub since 2004. In 2015, Forbes published a study listing the cities with the highest rate of growth in technology-related employment. According to the study, Austin became number one with a 73.9% increase in technology-related jobs from 2004 to 2014. Austin also saw a 36.4% growth in STEM-related jobs over the same period. It is no coincidence that Moove It, a Uruguayan software technology company, decided in 2015 to set up its US operations in the Texas capital to become an Austin software development company.

It has been six years since that last study, and Austin has only cemented itself as one of the tech capitals of the world.

Around 50 different industries are referred to as “Advanced Industries”. These industries range from aerospace technology to oil and gas production and wireless communication. These industries currently account for more than 12.1% of jobs in the Austin metropolitan area, according to the Brookings Institute. This report highlights that this segment of the labor market generated over $ 24 billion in economic output for Austin – nearly 25% of Austin’s total economy.

Austin’s skilled workforce, relatively low cost of living, affordable extensive property compared to California and New York, and Texas’s low taxes have made Austin a desirable city for professionals and businesses to immigrate to during the pandemic.

The city’s strong tech roots have further facilitated this change, as thousands in the tech industry used remote working to move away from traditional metros like New York City and Silicon Valley.

As these new tech grafts are certainly already learning, opening an office in a new city or country is about more than just socializing and attracting business. It’s also about becoming part of and contributing to your community and culture. Making Austin their second home has been an ongoing, challenging, and exciting process for Moove It and they are proud to be a part of this wonderful city that continues to grow.

Media contact

Company: Moove It

E-mail: [email protected]

Austin, TX

Source: Story.KISSPR.com

Release ID: 24696

Original source of original story >> Austin: The Technological Capital of the World – A Report by Moove It

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