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So, will Austin officially become the new Silicon Valley with further investments in data centers and office spaces from Google?
That remains to be seen.
Governor Greg Abbott commented on Google's recent investments into Austin real estate and said that the developments were proof of the city's potential. Texas has business-friendly practices that are ideal for tech companies and startups, and the state's workforce is incredibly talented - particularly when it comes to STEM jobs.
Speaking about the growing presence of Tech companies in Texas, Abbot noted that the Lone Star State is quickly appearing as a thriving technology hub, thanks to a fantastic economic environment that seems to prioritize innovation and market freedom. Although Google only has 1,100 employees in Austin today - a lot less than companies like Apple, it's well on its way to becoming one of the biggest professional presences in the city.
Of course, it's not just Google's growing presence that makes Austin a potential replacement for the old Silicon Valley. There are thousands of new and emerging tech companies throughout the city. Over the years, countless organizations have seen Austin as the rich and immersive entrepreneurial location that it can be.
The online marketing company, Yodle, was created by a man named Ben Rubenstein in Austin. He designed and developed the company when he was still in college and sold it to another brand for $342 million in 2016. Today, he continues to live and work in Austin. According to him, he fell in love with the city from the moment that he first arrived in it. In 2011, he had been based in New York city and commuting to work in Austin each day. However, he decided to relocate to the city full time when he discovered just how incredible the location could be for scaling a business.
In an interview, Ben Rubenstein said that when he started his business, Opcity in 2015, he knew that Austin was the best place in the world to start a tech company. Other brands have felt the same way. Experts have even begun to predict that the development and expansion of Texas and Austin as a tech hub will lead to a massive amount of growth in the area, which already has a 2.1 million population.
Austin has the right culture for Tech Companies
Additionally, it's worth noting that Austin has the right kind of cultural appeal to become a hub of innovation and technology in America. The location is home to a vibrant music and entertainment scene. It's often regarded as the Live Music Capital of the world. Additionally, Austin also happens to be home to one of the most well-renowned schools in the world.
The University of Texas contributes some of the most qualified and innovative young people in the world to the evolving startup scene. This means that new businesses finding their footing in Austin will always have a fantastic selection of ambitious graduates to tap into when they're on the search for new skills.
It's easy to see why Austin is such a compelling location for people to live and work in when you visit the space for yourself and see the fantastic atmosphere. Austin also provides amazing financial appeal for tech companies too. Most of the organizations moving to Austin today can find a great space for their office or data center and pay a much lower price than they would in California's Silicon Valley. Texas has no state taxes to speak of. That makes a massive difference to California, which has some of the highest state taxes around.
By moving to Austin, companies can save money, and their employees will pay far less to live too, which means that they shouldn't have a problem picking up and relocating to Austin even if they live elsewhere, to begin with.
Austin is a unique place with a culture that seems to appeal to everyone and anyone - no matter your background. If you're interested in music or technology, then Austin is obviously a go-to location for you. However, the environment is also full of other things too, like fantastic food, hike, and biking trails, and even beautiful city parts.
On top of that, Austin has a reputation for being particularly welcoming to newcomers. Unlike other cities that can be reluctant to embrace the new and emerging businesses that find their way onto the city streets, Austin is always ready to try something new. The city is packed full of people willing to explore whatever emerging companies have to offer.
Will Austin Continue to Grow in the Tech World?
As Austin continues to thrive with more graduates entering the workforce all of the time, and new tech companies appearing on the business landscape, the potential is endless.
Austin has an amazing talent pool from several universities that it can use to support the evolving businesses in its landscape. What's more, the low cost of living means that it's easier for anyone in this city to pursue their dreams and start bringing new ideas to life.
When a city has some of the most affordable housing costs around, it's easier to find the cash required to take a risk and leave your job so that you can start something new and innovative.
With companies like Google proving first-hand that investing in a life in Austin is a good idea, there's a good chance that we'll see the location continue to grow at a break-neck pace. Not only are additional investments from Google no-doubt on the horizon, but there are also plenty of new and inspiring new opportunities appearing from other brands too.
For those with their finger on the pulse of the technology industry, there is no location in the market more compelling or attractive than Austin Texas today.