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Tech Firms Massing in Downtown Austin

AUSTIN – (Realty News Report) – Tech companies are often choosing downtown Austin, instead of the suburbs, according to an article by Lori Hawkins and Shonda Novak of the Austin American-Statesman.

Of the many firms currently searching for office space in downtown Austin, about half of them are tech companies, Avison Young’s Mike Kennedy told the newspaper.

Facebook has 700 employees in downtown Austin. Google has 800 and Indeed has leased 307,000 SF in a new downtown building under development by a Trammell Crow joint venture.

Austin ranked sixth among 50 markets in CBRE’s 2018 Scoring Tech Talent Report. Austin has enticed a significant percentage of high-tech workers and employers. The number of technology occupations increased 20% (to 69,610) in Austin between 2012 and 2017. Non-tech jobs rose about 32% to 156,190 in that same period. The average salary for a tech worker is almost $95,000; for non-tech, just over $60,000, CBRE reported.

Aug. 15, 2018 Realty News Report Copyright 2018

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