Austin Chamber of Commerce 12•07 State of the Economy • Opportunity Austin • As presented to the Keller Williams Agent Leadership Council Opportunity Austin Opportunity Austin—A 5-year, 5-county economic development initiative aimed at creating 72,000 jobs • February 2003—Opportunity Austin is created • March 2003—Chamber commissions Market Street Services to evaluate Austin’s business climate and create an economic development strategy • April-July 2003—Strategy development • August 2003—Program review and budget creation • September 2003—Official rollout of Opportunity Austin’s 5-year economic development “roadmap.” Opportunity Austin Strategy • Capitalize on existing strengths • Recruit & target diverse sectors • Stimulate entrepreneurship & new enterprises • Market Austin effectively • Improve regional competitiveness 5-Year Goal • Creation of 72,000 jobs and $2.9 billion in aggregate increase in payroll Opportunity Austin Capitalize on existing strengths • Locally headquartered companies • Computer software • Digital media • Wireless • Semiconductors • Tourism Opportunity Austin Recruit & target diverse sectors • Automotive • Medical products • Regional offices & headquarters • Transportation & logistics Opportunity Austin Stimulate entrepreneurship & new enterprises • R&D & technology commercialization • “Next Wave” sectors: nanotech, biotech, clean energy • Export assistance Opportunity Austin Market Austin effectively • Identity building • Getting the word out that Austin is “in the game” • Chamber positioning Opportunity Austin Improve our regional competitiveness • Workforce quality • Transportation system & infrastructure • Permitting & regulatory climate 2006 Corporate Locations Austin AMI Semiconductor ANACS Aruna Solutions Asuragen Austin Exploration Aztek Systems BazaarVoice BioWare Corp. CompassLearning Compeat Restaurant Mgt Systems Connecticut School of Broadcasting CSIdentity Dechert Dimensional Fund Advisors Exagen Diagnostics Hewlett-Packard IBM Corp. Intelligentz Corp. Medical Present Value MJC Electronics Corp. Mobile Evolution Parrot PRC Rackspace Managed Hosting ReachForce Replicon Reznik Group Rimini Street Samsung Austin Semiconductor SolarWinds The Onion Bastrop Bargas Medical Devices Elgin Accurate Elastomer Products Georgetown Cesco Magnetics Round Rock TECO-Westinghouse San Marcos MAxIMuS 2006 Corporate Expansions City of Austin 21st Century Financial Ser. Advanced Micro Devices American Power Conversion AnyWare ArthroCare BioWare BuildForge Bury+Partners Calply Cirrus Logic Colonial Bank Consero Convio Dell e-MDs Enterprise Rent-a-Car ETI Farmers Insurance FineTooth Freescale Semiconductor Gerson Lehrman Group Grainger Gunze Electronics USA Hewlett-Packard IBM Integral Wave Technologies Intel Intrinsity Jam Technologies Kershner Trading Group Kodiak Assembly Solutions MessageOne Motorola Movero Technology National Transcript Center NetEffect NetSpend Newisys Newmarket IT nFusion Group Old Dominion Freight Line Pervasive Progressive PulseWave RF Qualcomm ReachForce Samsung SensorTran Seton Springbox Tocquigny Advertising Trillion Partners University of Phoenix Uplogix Vcfo Voxpath Networks 2006 Corporate Expansions Beyond Austin Bastrop Round Rock Coghlan Group Cerilliant Co Com Cabling Systems Lone Star Circle of Care Cedar Park ETS Lindgren Kyle San Marcos Grande Communications HADCO RSI Taylor Lockhart Serta Mattress Luling Security Cameras Direct Burrows Manufacturing Opportunity Austin Goals & Measurements 2006 Results 2004-2006 5-Year Goal Net increase in non-farm employment 33,100 80,900 72,000 Net increase in payroll* $1.4 billion $3.5 billion $2.9 billion GOALS MEASUREMENTS Corporate locations 36 93 100 Out of region visits 124 432 500 Prospect visits to Central Texas 133 275 250 Serious relocation inquiries 979 2,763 5,000 Regional retention visits 141 316 475 *Calculated based on TWC’s 3rd quarter average weekly wage for Austin MSA. Prospect Activity July 2007 July 2007 Out of region company visits Year-toDate Annual Goal Campaign -to-Date 5-Year Goal 17 75 100 495 500 Serious relocation inquiries 111 715 1,000 3,417 5,000 Prospect visits to Austin 7 71 50 343 250 Corporate announcements/ relocations 2 19 20 111 100 19 96 100 412 475 Regional retention visits