December 14, 2017
The Greater Austin Chamber of Commerce introduced its five-year economic development plan, dubbed Opportunity Austin 4.0. The goal of the plan is to create more than 160,000 new jobs, increase the annual average wage to $66,000, reduce the poverty rate to 9.5% and help 56.6% of Austinites to attain at least an associates degree. To fulfill this plan, Opportunity Austin wants to fundraise $30 million by 2018.
Austin’s largest challenges when it comes to economic development include traffic, housing affordability, city regulations and income inequality, according to Opportunity Austin 4.0’s Gary Farmer. The plan is geared to address some of the challenges by focusing on existing businesses, strengthening the Austin workforce and improving regional mobility. One key to helping traffic congestion, Farmer said, is to encourage more mixed-use properties such as The Domain, where people can live and work, without needing to drive.
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