According to the Austin Business Journal, the Austin-Round Rock area was named best performing city on the 2009 Milken Institute/Greenstreet Real Estate Partners Best Performing Cities Index. This is based on Austin’s ability to create and sustain jobs, considering metrics for employment, salary growth and technology output.
“Texas’ strong position in our best performing cities study demonstrates that a favorable business climate, combined with a low-cost/low-tax environment, is highly supportive of job creation,” said Ross DeVol, senior economist at the Milken Institute and lead author of the report. “The state has diversified its economy by fostering several key high-tech clusters, and the passage of Proposition 4, allocating $500 million in funding for research universities, will make Texas an even more formidable competitor in the future.”
The Milken Institute press release is here. Note that Austin is the first metro to ever be ranked number one twice on the index, the last time being in 2000.