POTUS will be visiting Austin on Thursday, March 9 to conduct "events on the economy." It's expected one focus will be on the innovation economy.
As reported in local media:
Obama will be traveling into the wheelhouse of the “Texas miracle,” which Republican officials from Gov. Rick Perry on down credit to the state’s low-tax, low-regulatory, pro-business regime, a stark contrast, they say, to the way the federal government, particularly under a Democratic president, operates.
The visit also comes at a time when alumni of Obama’s presidential campaign have launched an effort – Battleground Texas – to turn Texas blue.
Today, the day before the President's visit, 150 tech CEOs will be attending an unprecedented Austin Technology Council (ATC) Summit to introduce a new economic impact study outlining tech's growing influence on the regional economy. What the data, survey, and Summit are suggesting: Austin is a much more established, mature technology epicenter than previously understood – and therefore the President is coming to the region at very interesting time of "discovery"
Tom Meredith, former Dell CEO and supporter of President Obama will wrap-up the Summit with a interesting perspective on the "Promise of Austin" as a message to the local CEOs as well as a take on the region for what the White House may be needing to know about Austin:
- The technology sector contributes approximately $21 billion and 106,000 jobs to the Austin economy. Technology industries account for about one out of every five dollars of Gross Regional Product (GRP) and nearly one out of every ten jobs in the Austin economy.
- Tech jobs in Austin have a significant multiplier effect. For every one new job that’s created in the tech sector, the Austin economy gains an additional 2.5 jobs. In other words, the technology sector sustains approximately one-third of all the jobs in the Austin economy (i.e. direct plus spinoff jobs).
- Technology companies drive a significant amount of wealth creation in Austin. Average earnings per job in the tech sector are $115,361, for example, compared to $52,488 for the Austin economy as a whole.
- Technology employment in Austin is expected to grow by approximately 9% between 2012 and 2017, adding more than 9,000 jobs to the regional economy. Nearly one out of every five new tech jobs in Texas during 2012-2017 is expected to be located in Austin.
for more information see:
http://austintechnologycouncil.org/austin-economic-study/
http://online.wsj.com/article/PR-CO-20130506-900854.html?mod=googlenews_wsj
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Richard Seline (Facilitator and Impact Advisor to the Summit , Principal of Global NextGen Advisors)
This email address is being protected from spambots. You need JavaScript enabled to view it.
703.608.3000
LinkedIn: http://www.linkedin.com/in/richardseline
