Austin leads the way in downtown job growth

austin riverAlthough most newcomers choose to live a suburban life, job growth in Central Austin is now outpacing job growth in the suburbs, according to a new report from City Observatory, a Portland, Oregon-based think tank.

In fact, Austin now leads all other U.S. cities in terms of the percentage of its overall workforce working downtown and in downtown job growth.

According to the report titled “Surging City Center Job Growth,” the downtown-oriented job growth in Austin mirrors trends seen in metro areas across the nation, reversing suburban-oriented job growth trends that stretch back more than 50 years.

As recently as the five years from 2002 to 2007, job growth was still suburban-oriented around U.S. cities. Then, job growth in suburban areas was growing at about 1.2 percent annually, compared to 0.1 percent in urban cores. But between 2007 and 20011, a switch happened, with job growth in urban cores rising to 0.5 percent annually, while suburban jobs shrank by 0.1 percent.

In Austin, the urban core job growth flip has been more dramatic. Between 2002 and 2007, city-center job growth in Austin was about 0.6 percent annually and suburban job growth was about 3.1 percent annually. Between 2007 and 2011, though, city center job growth in Austin surged to 3.4 percent annually while suburban job growth slowed to 2.3 percent annually. That’s the fastest-growing urban core job growth in the nation in that time. Austin, with 28.8 percent of its jobs located in the urban core, now has the highest level of core employment in the nation, ahead of even New York City, which only has about 23 percent of its employment in its urban core.

But while Austin’s new jobs are moving downtown, Austin’s overall population growth has, recently, been driven by growth in the suburbs, a fact underscored in a recent Austin Business Journal cover story that found that more than 62 percent of the Austin-area’s population growth since 2010 has been centered in about 54 suburban census tracts, with the fastest growing areas being Pflugerville, Round Rock and San Marcos.

 

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Family Friendly Summer Concert Series at Parmer Event Center

Hartman Foundation Concerts in the Park is the perfect way to have a relaxing end to the weekend and get ready for the work week. These weekly concerts are one of Austin’s true summer treasures.

the-long-center

Each week features a different ensemble of the Austin Symphony. They will play an array of everything from jazz, light classical, pop selections and film scores.

The city of Austin at sunset is a great background as you listen to live music. Remember to bring a picnic dinner and blanket!

They will announce all cancellations due to rain via their website, Facebook and Twitter.

Admission: free

Time: 7:30 – 9:00 p.m.

2013 Schedule:

June 2 – Strings
June 9 – Brass
June 16 – Woodwinds
June 23 – Big Band

July 7 – Strings
July 14 – Brass
July 21 – Woodwinds
July 28 – Big Band

August 4 – Strings
August 11 – Brass
August 18 – Woodwinds
August 25 – Big Band

Location:
The Long Center Terrace
701 W. Riverside Drive
Austin, Texas 78704

http://www.austinsymphony.org/events/austin-symphony-hartman-foundation-concerts-in-the-park/

Courtesy of Austin Culture Map:

Why It’s Still Hard to Get a Home Mortgage

 

Associated Press

The housing market may be coming back, but a growing number of policy makers have expressed concerns in recent months that it’s still too hard to get a mortgage. Continue reading