Austin, Texas has become one of the most exciting cities in the United States. It is one of the most liberal places in the Lone Star State, making it enticing for people who want to save money on state taxes and enjoy the blossoming economy of the capital. Between tech, the restaurant business, music, and now comedy, Austin is an epicenter for many fields. Below are five growing industries in Austin, the capital of Texas.
One of the biggest industries in Austin is technology. Even before Elon Musk moved his businesses to Texas, Austin was a blossoming center for tech. Now, Tesla and SpaceX are pushing the boundaries of the future. With so many jobs at these companies, other businesses are following suit.
Tech start-ups have historically been in Silicon Valley, but California’s taxes continue to increase. In Texas, there is no state tax—meaning that companies have a better chance at success in their initial months. It has made Austin a capital for technology companies.
Comedians moved to Austin in droves during the pandemic. When comics couldn’t perform in Los Angeles, they were drawn to Austin—where the economy was relatively open. Joe Rogan announced he would move to Austin early on, taking his hit podcast to the Lone Star State.
Then others followed. Tom Segura and Christina P moved there. So did Tony Hinchcliffe and Brian Redban. Ron White already lived in Austin and Fahim Anwar moved there temporarily. Even the famous New York comedy club the Creek and the Cave relocated to Austin. Seemingly overnight, Austin became a comedy capital and the business is booming.
Bars & Restaurants
If one thing was always true about Austin, it’s that people like to eat and drink. Whether it’s sampling craft beverages at a local brewery, downing drinks on 6th street, or buying a mountain of meat at one of the many famous barbecue spots, Austin is a place where you can visit just to have some drinks and eat some great food.
However, it isn’t just barbecue. There are fine restaurants like Arlo Grey. There is authentic Mexican food and a unique spin on Tex-Mex. If you’re trying to get into the restaurant business, Austin isn’t a bad choice. You can even start with a ghost kitchen in Austin to do deliveries and build a permanent dining room as you grow. The love of bars and restaurants won’t go away in Texas’s capital. They will continue to spread.
Like food and drink, Austin has long been known for live music. Perhaps most famously, South by Southwest is known for its sprawling festival of live music, but they aren’t the only festival operating in Austin. There are also the Levitation and Oblivion Access festivals. It doesn’t matter what kind of music you like. If you’re in Austin, you can pretty much find live music any day of the week. When the pandemic hit, many musicians whose livelihood depended on performing live moved to Austin for work. It has only continued to be a place where people love live music.
Austin is a creative space for entrepreneurs to start a company based on their passion. Starting a business in Austin can be lucrative because all the factors are there. It is an affordable place to open a business. The locals are open-minded and unstuffy. When it comes to a place to start a creative digital media business, Austin is one of the best options. With the combination between conservative fiscal tax policies and liberal social mindsets, the digital media business you are trying to start could thrive here.
Austin has a booming economy where all kinds of industries are thriving. It is a favorable environment for business, but it is also an epicenter of art and culture. Whether you are interested in technology, comedy, art, restaurants, live music, digital media, or something else entirely, Austin is a city that has it all. It has quickly become for growing industries in the capital of Texas. Since the beginning of the pandemic, the city has been cemented as one of the fastest growing economies in the country. Elon Musk called it, “the next boomtown.”
Ryan Beitler is a journalist, writer, and traveler who has written for a variety of different publications.