"Live Music Capital of the World," is a prominent moniker for Austin
over the past several years, bolstered by major events like the Austin
City Limits Festival and South By Southwest each year. More
importantly, there is live music in dozens of venues every night -- on
vaunted 6th Street and all over town. This is a huge part of what
makes Austin Austin, but there is so much more ....
Several years ago, "Silicon Hills" was a label that attached here, and
it represented several years that cemented Austin as a high-tech
city. The successful attraction of MCC (Microelectronics and
Computer Technology Corporation) and Sematech (Semiconductor
Manufacturing Technology) were important catalysts, and Motorola
Semiconductor (later Freescale), AMD, and Samsung made substantial
investments in facilities and people here. Add home-grown Dell
Computer and major facilities for IBM, Applied Materials, and others,
and the technology-driven business culture was secure. During the
go-go time of the dot-com boom the high-tech attraction expanded and
Austin became known as a place where entrepreneurs and growing
companies are welcome.
Throughout the current (soon to be past?) recession, the Austin area
has performed better than most, continuing to add jobs and to attract
people and companies. I have posted over the past week a number
of articles about some of the most recent growth announcements (Recession? Yes, but it's
great to be in Austin! and More expansion in Austin). Building on that
theme, there is a cultural foundation for this success and several
recent articles help to showcase that element:
Begin with a recently announced expansion of a major corporation
here: AT&T
lab adding space, jobs in Austin. There
is limited detail at this point: "The space will be a
Mobility Technology Lab, said Kathryn McClelland, a spokeswoman for
AT&T, but the company is not yet providing details about what work
will be performed there. AT&T has a testing lab with about
300 employees and contractors in the Arboretum area, said Pat Orman of
AT&T corporate real estate. At that lab, manufacturers submit
new wireless devices, including smartphones and tablets, for AT&T
to test and certify for use on its network, which is the largest in the
U.S." Might this be the kind of facility that would
attract major cell phone manufacturers to expand their local presence
here as well? Time will tell, but testing labs of this kind in
other technology sectors have produced that kind of growth here in the
past.
Regarding some newer, but established firms: 2011
could be a breakout year for Austin IPOs. "So far, four
Central Texas companies have filed for initial public offerings, and
two more are considered strong possibilities. The list at present
— Freescale Semiconductor, HomeAway Inc., Newgistics Inc. and Thermon
Group Holdings Inc. — could not be more different, representing chip,
Internet, logistics and industrial sectors. Two of the companies are
promising up-and-comers, and two are a half-century old."
Expansion of a newer participant in Austin's business climate says
something about why this kind of growth continues: How
Facebook transplanted its culture from California to Austin. "A year ago,
Facebook had no one in Austin. Now, Austin is Facebook's biggest U.S.
office outside Palo Alto, with about 110 sales and operations workers —
most hired locally .... Facebook chose Austin because it needed
that support office in the middle of the country, more in sync with
other U.S. time zones, and the company liked the wealth of local
talent, thanks to the University of Texas and Austin's tech history."
Finally, an upcoming local conference brings "old" and "new"
together: Austin
conference will link gamers with potential investors. "The day before the
conference, AMD will host the Game On! Texas development symposium,
featuring former Supreme Court Justice Sandra Day O'Connor speaking
about her new Web-based education project iCivics, as well as legendary
Austin game developer Warren Spector," and at the gaming conference
itself, "Participants and speakers range from Brett Butler of
developing-publishing giant Electronic Arts to representatives from
smaller venture capital firms, such as Chris Shonk of Austin's Liahona
Ventures. Another participant is Frank Coppersmith, CEO of Austin-based
GameSalad Inc., which helps people create and publish Web-based games.
The company announced last week that it had raised $6.1 million from
Steamboat Ventures, which is the venture capital arm of the Walt Disney
Co."
Innovation,
entrepreneurship, investment, and growth are cultural mainstays in
Austin. Being the Live Music Capital and all that that means to
the community is an important part of this city, as is the moderate
weather, Texas Hill Country, the Highland Lakes, and our central
location with easy access to the rest of the state. All of these
factors work together to make Austin the dynamic community it is, and
these articles and many others tell the stories that make the future
look bright.
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