Prospective residents considering moving to Austin will be pleased to learn that this populous city has a booming economy and job opportunities in a range of fields. One of the major advantages of working in Austin is that there is no income tax at the state level, even though workers will still be required to pay federal taxes.
Job market in Austin
Austin was once the centre of Texas’s oil industry but is now more famous as a technology hub, so much so it has been dubbed ‘Silicon Hills’. Austin’s job market has flourished over the last few years. According to the Wall Street Journal’s ranking of US job markets, Austin has taken the top spot for two consecutive years based on its low unemployment rate, job prospects and wage growth.
The most notable area of growth in Austin is said to be the tech sector. Apple started construction of its USD 1 billion corporate campus in 2019, which is set to create up to 20,000 new jobs in the city over the next five years.
As the Texan state capital, Austin has always had an abundance of government jobs. Education is another prominent employer in the city, with many private and public schools, as well as an impressive selection of colleges and universities.
Both national and international corporations have seen the value in Austin and chose to locate headquarters and various operations in the city. Austin's high quality of life, excellent talent pool and strong infrastructure have contributed to attracting business to the city. Newcomers to Austin with a background in sectors such as technology, financial services, digital media, data management and the life sciences will find plenty of exciting job prospects on offer.
As well as these big corporations, Austin has become a popular place for startups. Tax incentives as well as schemes such as the Texas Enterprise Fund and the Texas Enterprise Zone Program, a tool that allows companies to partner with the state authorities to promote job creation, have served to nurture new businesses in Austin.
Work culture in Austin
Naturally, workplace culture differs from one company to the next. It is also somewhat dependent on the nature of the industry. On the whole, the work culture in Austin is fairly progressive.
One of the major reasons companies choose Austin as a destination for their regional offices is because of the quality of life the city offers its residents. By the same token, more of these companies now put measures in place to improve the work-life balance of their employees, such as flexible working hours, job sharing and working-from-home provisions.
Many smaller companies and startups don’t have formal office spaces, but rather opt to use one of the many well-equipped coworking spaces in Austin. In fact, many of those working in more creative industries actually see great benefits in utilising these spaces, as it allows their workers to collaborate with others in a similar field to foster productivity and new ideas.
The more well-established companies in Austin offer their employees competitive packages, which include a range of benefits such as wellness incentives, pension and health insurance contributions.