As the City of Austin greets a new paradigm in local government and community growth, the Economic Development Department (EDD) is stepping forward with a new strategic plan that has a strong focus on creating opportunities for a growing economically disadvantaged population. To that effect, the EDD has narrowed seven Target Markets to strategically position the city for equitable economic development that will secure jobs and investment for all stakeholders while supporting a diverse business climate.
Advanced manufacturing and distributions and logistics firms conduct large amounts of R&D, employ a disproportionate share of STEM workers, and engage all arrangements in the intermodal supply chain and modern production system.
The creative sector is defined by six broad categories of activity: music, film & visual media, gaming, digital media, visual arts, not-for-profit arts groups, and culture-related tourism.
The fashion industry under the category of visual arts encompasses design, manufacturing, distribution, and sale of diverse products including wearable technology, unique designer couture and mass-products commodities.
The food sector also falls under culture-related tourism category and is comprised of agriculture, culinary arts, food-related production, manufacturing & distribution, local food vendors, eating & drinking places, and food waste.
Life sciences & technology integration consists of pharmaceutical and biotech development, medical device, healthcare, and healthcare information technology.
Automotive & aerospace leverage and anchor firms in the automotive and aerospace sectors that develop and manufacture technology in satellites, launch providers, spacecraft components, in-space services, robotics, electrical power systems, renewable fuels, and engine control systems.
Zero Waste or Circular Economy is defined by a set of technologies and services developed across a number of industries in response to concerns about climate change, energy security, resource depletion, recycling, remanufacturing, and reducing dependence on raw material.