Austin #1:10 Best Cities for the Next Decade

1) Austin, TX
2) Seattle, WA
3) Washington, D.C.
4) Boulder, CO
5) Salt Lake City, UT
6) Rochester, MN
7) Des Moines, IA
8) Burlington, VA
9) West Hartford, CT
10) Topeka, KS

10 Best Cities for the Next Decade
They're prosperous, innovative, and they'll generate plenty of jobs, too.
We live in challenging times. Unemployment remains high, and the U.S. lead in technology and science is slipping as many foreign countries gain ground. But some U.S. cities, though slowed by the Great Recession, still thrive by lifting good old American innovation to new levels. And that will help put more Americans back to work and keep our international edge.

In Kiplinger's latest search for top cities, we focused on places that specialize in out-of-the-box thinking. "New ideas generate new businesses," says Kevin Stolarick, our numbers guru, who this year evaluated U.S. cities for growth and growth potential. Stolarick is research director at the Martin Prosperity Institute, a think tank that studies economic prosperity. "In the places where innovation works, it really works," he says.

After researching and visiting our 2010 Best Cities, it became clear that the innovation factor has three elements. Mark Emmert, president of the University of Washington in Seattle, put his finger on two of them: smart people and great ideas. But we'd argue that it's the third element -- collaboration -- that really supercharges a city's economic engine. When governments, universities and business communities work together, the economic vitality is impressive.

And it's no coincidence that economic vitality and livability go hand in hand. Creativity in music, arts and culture, plus neighborhoods and recreational facilities that rank high for "coolness," attract like-minded professionals who go on to cultivate a region's business scene. All of which make our 2010 Best Cities not just great places to live but also great places to start a business or find a job.

1. Austin, Texas
Austin is arguably the the country's best crucible for small business, offering a dozen community programs that form a neural network of business brainpower to help entrepreneurs. Now overlay that net with a dozen venture-capital funds and 20 or so business associations, plus incubators, educational opportunities and networking events. Mix all these elements in what many call a classless society, where hippie communalism coexists with no-nonsense capitalism, and you’ve got a breeding ground for start-ups.

Don’t discount the fun factor: In the self-proclaimed live-music capital of the world, music and business creativity riff off one another. The city’s famous South by Southwest festival, where concerts, independent film screenings and emerging technology overlap, is a prime example

By the Editors of Kiplinger's Personal Finance Magazine
From Kiplinger's Personal Finance magazine, July 2010

Austin Ranked Best City to Invest in Commercial Real Estate

Austin Ranked Best City to Invest in Commercial Real Estate

Austin has the best prospects for commercial real estate investment this year, a Grubb & Ellis Co. forecast reported today.

The Santa Ana, Calif-based real estate services and investment firm said it expects commercial real estate will continue to falter this year, but at a slower rate, according to the 2010 forecast. Most property types will reach bottom pricing near the end of 2010 with a slow recovery beginning in 2011, officials said.

In a ranking of the top 10 markets for long-term office, industrial, retail and multi-housing investment potential, Austin was listed No. 1. Houston was the only other Texas city to make the list, taking the sixth spot.

“Because commercial real estate lags the labor market, it still has a ways to go before reaching its own low point,” said Bob Bach, Grubb & Ellis senior vice president and chief economist. “The good news is that the freefall we saw in 2009 is over and the future is more certain, giving owners and users of real estate the confidence to begin making decisions again.”

The investment market will see a slight rebound in 2010, according to the forecast, with at least some assets entering the market in 2010. Officials said the shift should prompt increased sales volume of 20 to 30 percent. The report said record-high office vacancy rates will likely continue, reaching as high as 19 percent by the year’s close.

Source: Austin Business Journal : Monday, January 4, 2010

Forbes Ranks Austin #8 for Biz & Careers!

Forbes.com ranks Austin the 8th best place for business and careers in its latest list.
Texas' Capital City rose significantly from 47th on last year's list. Austin was behind cities such as No. 1 Raleigh, N.C. and No. 4 Fayetteville, Ark. The list was ranked according to factors such as cost of doing business and projected employment growth.


Forbes.com cited Austin's projected annual job growth rate of 2.3 percent--the fifth fastest in the country, and its relatively low subprime mortgage exposure.
For its reporting on Austin, Forbes.com spoke with the Charles Schwab Corp., which expanded its Austin presence in 2007 when it purchased the 401(k) Co. "The city of Austin is extremely business-friendly. They have bent over backwards to accommodate us," Glenn Cooper, head of real estate at Schwab, told the news site.


The top 10 cities on the list were as follows:
1) Raleigh, N.C.
2) Fort Collins, Colo.
3) Durham, N.C.
4) Fayetteville, Ark.
5) Lincoln, Neb.
6) Asheville, N.C.
7) Des Moines, Iowa
8) Austin, Texas
9) Boise, Idaho
10) Colorado Springs, Colo.

From Austin Business Journal 4/3/09