VR Mergers & Acquisitions / VR Business Brokers located in Austin, Texas
VR Mergers & Acquisitions / VR Business Brokers
Travis County is the home of Austin, the Texas state capital. A million and a half people live in the Austin metropolitan area, most of them in the city of Austin and Travis County, but many in the fast-growing adjacent counties of Hays, Williamson, Caldwell and Bastrop as well. During the 1990's, the Austin-area population increased at almost twice the Texas state average.
With 805,825 energetic people in the Austin workforce, half a million of them in Travis County alone, Austin is a great place to grow a business. Austin, Texas is young - the typical Austinite is less than 33 years old, four years younger than the national median. Almost half the population is between 18 and 44. The area's colleges and universities serve more than 100,000 students. The University of Texas at Austin is one of the leading universities in the country, with more than 20 programs ranked in the top 25 nationally. In Austin, 40% of those over the age of 25 have earned a bachelor's degree or higher, compared to the national average of 27%.
Since 2003, Austin's employment growth has been much higher than the national average - 3.67% compared to 1.30%. In the next decade, the Austin job market is expected to increase almost 25%, higher than the Texas or United States average. Only four percent of Austin workers belong to a labor union. Austin is above the national average in income and education.
Texas has no state income tax, which means the average tax burden in the Austin region is lower than the national average. Texas ranks 42nd among the 50 states in taxes paid per $1000 of personal income.
The Austin region's largest employers include Dell Computers, Freescale Semiconductor, IBM Corporation, Seton Healthcare Network, the University of Texas, the State of Texas, the U.S. Federal Government, the City of Austin, and the Austin School District. A dozen other manufacturers of semiconductors, computers and electronics have made major investments in the Austin area, each one employing hundreds or thousands of workers.
Each year Austin inventors are awarded more patents than their counterparts in cities such as Phoenix, Seattle, Denver or Raleigh-Durham. Austin and Central Texas is becoming a magnet for auto manufacturing companies, the biomedical & pharmaceuticals industry, clean energy technologies, wireless data and communication, and distribution & logistics companies.
Commercial construction in Austin costs only 80% of the national average. The median home price in Austin is about 16% lower than the national average. In January 2006, Travis County residents began construction on more than 1,200 new homes at an estimated cost of $156 million. The Austin commercial real estate market offers exceptional value. With office and industrial vacancy rates around 14 percent, there is plenty of room for business expansion. Austin had more than 8.7 million square feet of vacant office space at the end of 2005. Since much of Austin's development is recent, within the past 15 years, modern attractive facilities are the rule. The 33-story Frost Bank Tower opened in downtown Austin in early 2004.
Austin is strategically positioned midway between the two U.S. coastlines and centrally within Texas. Three of the nation's 10 largest cities - Houston, San Antonio and Dallas, with total business markets of more than 14 million - are less than four hours from Austin. So is Mexico - Laredo, Mexico's major entry point into the United States, is directly linked to Austin via I-35. When completed, State Highway 130 will connect to I-35 north of Georgetown and to I-10 east of San Antonio. Austin-Bergstrom International Airport is served by nine major airlines, with 260 arrivals and departures daily, and direct flights to 93 cities including 8 foreign cities.
But Austin and Travis County is not all business. Business investors and employees alike want to live here. The city of Austin features 11,800 acres of greenbelt. With more than 16 million annual visitors each year, especially to the Texas State Capitol, Austin is the fourth most visited city in Texas. The largest urban bat population in the United States can be seen on warm evenings, flying above Austin's Congress Avenue Bridge.
In Austin, dress is casual, and winter coats are rarely required. With 300 sunny days a year, Austin has never had a white Christmas. The annual precipitation in the Austin area is 31 inches, with an annual average relative humidity of 67%. The temperature in January usually stays above 37 degrees, while the temperature in July usually stays below 94 degrees. The average January temperature is 50 degrees while the average July temperature is 84 degrees.
Austin calls itself the "Live Music Capital of the World," with more than 100 places around town to enjoy it. Few American cities can support professional ballet, opera, symphony and theater companies, but Austin has all four - with more than 60 performance companies, plus 20 museums and dozens of art galleries.
Austin has been named No. 2, Best City for Job Growth (Forbes, 2004), No. 8, America's Cleanest Cities (Reader's Digest, July 2005, No, 1, Top 10 Cities for Hispanics (Hispanic magazine, 2005) and No. 3, Best Places for Business and Careers (Forbes, May 2005).
Click here to contact VR Mergers & Acquisitions / VR Business Brokers located in Austin for more information about buying or selling a business in Austin, Texas or Travis County.
- VR Mergers & Acquisitions / VR Business Brokers located in Austin, Texas will help sell your Austin business by positioning your company in front of qualified buyers.
- VR Mergers & Acquisitions / VR Business Brokers located in Austin will also assist in finding a business to buy if you are looking to purchase a Business in the Austin area.
- We will help you through every step of the process to ensure every aspect of buying or selling your business runs smoothly.
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