Tags: austin | hipster | growth | texas

Forbes Declares Austin, Texas, 'The Place to Be'

Image: Forbes Declares Austin, Texas, 'The Place to Be'

Friday, 27 Dec 2013 02:21 PM

By Bill Hoffmann

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Austin, Texas, has made it to the top of Forbes magazine's  list of "metro areas with the most economic momentum going into 2014."

Austin "has enjoyed double-digit growth in GDP, jobs, population and birthrate since 2007," writes Forbes contributor Joel Kotkin.

Editor’s Note: 38 Trades That Could Turn $1,000 Into $49,000

"The Texas capital has a very strong hipster reputation, attracting many of the same people who might otherwise end up in Silicon Valley or San Francisco, but it also boasts the low taxes, light regulation and reasonable housing prices that keep migrants there well past their 30s."

Austin is followed by San Antonio, Salt Lake City, Houston and Nashville. Rounding out the top ten are: Dallas, Denver, Oklahoma City, Raleigh, N.C., and San Jose, Calif.

Texas cities are "clearly the place to be in terms of job creation, wealth formation and overall growth," says Kotkin.

One critical factor propelling growth is the "energy revolution, which is rapidly transforming big swathes of middle America into a production hub for fossil fuels and the best place to secure cheap electric power," according to the magazine.

Besides the Texas cities, other energy capitals are Salt Lake City, Denver and Oklahoma City.

According to Kotkin, the best places to look for work, or invest, will be "those that have diversified their economies, kept costs down and attracted a broad cross-section of migrants from other parts of the country."

Editor’s Note: 38 Trades That Could Turn $1,000 Into $49,000

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