Texas has quickly earned a reputation as one of the most profitable states to do business in the US. It deserves this title for a number of reasons, but one of the biggest contributing factors is the flourishing tech industry in its capital city, Austin.
Home to the University of Texas, Austin regularly graduates a plentiful supply of eager students ready to join the workforce and put their knowledge to use. A large number of people visit Austin and never want to leave, and UT students are not impervious to the city’s magnetic pull either.
The University of Texas supplies all areas of the world with accomplished graduates, but a lot of them fall in love with Austin to such an extent that they decide to remain and launch their careers in the same city they received their degrees. This on top of the daily migration of 150 potential employees helps explain why Austin has such a large number of thriving businesses.
One of the biggest reasons Austin is such an attractive spot to start a career is because of the high tech wages provided to workers and the relatively low cost of living. The average tech job in Austin pays over $93,000, but the average housing cost is barely $200K. Not only are homes in Austin affordable, but so is office space, which currently rents at about $25 per square foot.
The venture capital provided by the companies listed in this infographic — over $300 million in the first quarter of 2014 alone — ensures that startup businesses in Austin continue to grow and provide its residents with valuable services and job opportunities.
This infographic acknowledges the companies and supplementary resources that come together to make the existence of startups in Austin possible.
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