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Originally Posted by ATXboom
Not fully disagreeing but I could argue UT has always been there too I do know the big tech companies (google/FB/Apple, etc) come here because its where tech talent wants to be... it is a national draw. They are def not here exclusively for UT grads (which only address entry level positions at best). FWIW - I work for these companies so I have some insight. The companies simply follow where the talent wants to be.
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And would the talent be in Austin if it wasn't for UT? If UT was instead situated along the Riverwalk or if it was in the Downtown of the original capital of Texas (Houston), would Austin be where the talent wants to live? I don't think so. If you look at the flagship universities of various states that also happen to be in a major city, tech companies usually have a bunch of jobs (hundreds, if not thousands) there. Austin, Tempe, Madison, Atlanta, Raleigh, Twin Cities, Berkeley/UCLA (it's safe to say there's two flagships in the UC system), Albuquerque, Columbus, Denver, etc. I think there's a strong correlation behind that. Universities in larger cities have an easier time holding that talent once they graduate. Unlike your average small college town. This makes them very attractive for companies.
With that said, Austin has been a fast growing metro area since the 1960s at least. It grew anywhere between 2.5% to over 6% annually back then. It only dipped below 2% annual growth during the oil bust years in the late 80s when more of the state was tied to energy but has continued at a high clip since. So fast growth isn't a new thing for the city. Most of the newcomers come from the Houston and DFW metro areas, followed by California. Harris County (Houston) is actually the #1 source of new domestic migrants to Austin.
By the way, I just had a friend out here in CA accept a move to Austin working for Google. He makes over 100k and gets to keep his salary. Will live like a king and have native locals turn their nose up him as he is yet another transplant that will contribute to the rise in prices. Has Austin city council discussed raising the minimum wage in the city?