Marcus Hiles On Austin’s New Initiatives
As Austin has one of the region’s most skilled workforces and helpful local tax perks it contributed as much as $626 million to the state, a twenty percent increase from 2015.
Marcus Hiles claims that the technology epicenter saw its utmost annual dollar figure since 2001 combined with an vast rise in importance, “Austin is a brand, and venture capitalists are very interested in it,” said Bernard Weinstein, an economist at Southern Methodist University, “They add their financial resources to Austin to be a leader in IT and software development.” The software industry added the majority stake of investments, with $328 million going into forty-two deals. Biotechnology and IT services followed, making $120 million and $56 million, correspondingly. Mayor Steve Adler suggests that the predisposition to innovate has played an important role to his city’s profitable success, “There’s a reason that tech and transportation companies come to Austin to launch their new initiatives. And that’s because Austin is where good ideas become reality.”