March 27, 2017
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Fifty corporations announced their intent to relocate – then did so – to the Austin metro in 2016. The relocations, combined with business, retention, and expansion, led to 32,000 new jobs and a payroll increase of $1.86 billion, according to the chamber of commerce’s “2016 Opportunity Austin Annual Report.”
The 50 corporate relocations led to an increase of 4,814 new jobs coming to the region. In addition, the numbers showed that 81 companies expanded in the region, adding an additional 5,353 direct jobs. The report acknowledged that, while attracting additional venture capital funding was a challenge, the region had 112 deals with $834 million in funding, the most in Texas.
The yearly progress is part of the chamber’s “Opportunity Austin” program, geared toward growing the area economy, increasing talent, and improving infrastructure.
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