Austin thrives on a healthy balance of technology, business services, education and government, and those sectors thrive in Austin. In the state capital of Texas, live music echoes from the nearly 200 venues located within the city limits. Austin also has four lakes and several parks available for natural recreation activities.
Among the region’s strong assets is the Central Texas workforce, representing one of the most educated and young talent pools in the country. 41.5% of the population is over the age of 25 and has a bachelor’s degree and the median age in the Austin Region is 33.5 years old.
Texas consistently ranks as one of the nation’s most favorable business climates based on its low tax burden and competitive regulatory environment. Costs in Austin are 4% below the national average in 2015. Texas features no personal income tax, and overall the state has one of the lowest state and local tax burdens in the nation, ranking 41st among the 50 states in taxes paid per $1,000 of personal income.
In Texas, aggregate costs for real estate, energy, wages and taxes are below most states in the country. New York and San Francisco costs of living compared to the national average are 128% and 78% above, respectively, while Austin remains 4% below the U.S. average.
Highly rated elementary and secondary schools contribute to both quality of life and the beginnings of exceptional labor pools to come. In 2015 the labor force grew 3.5%.