Marcus Hiles On Austin’s New Initiatives

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.”

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