Austin is the most likely city to experience retail growth for the rest of 2009 and into 2010, according to a ranking today by Pitney Bowes Business Insight.
The report lists the top 10 U.S. metropolitan areas experts expect to experience quarterly retail sales growth for the remainder of 2009 and into the next year. The data includes figures from drug store, high-end, mid-tier and value retail sectors.
Houston, Dallas and San Antonio also made the list, ranking third, fourth and fifth, respectively.
The New York-based global communication solutions provider compiled the research findings using MarketPulse, a market analysis tool that uses current macroeconomic variables to understand and predict store performance.
Austin Business Journal
Friday, December 11, 2009
Friday, November 20, 2009
Central Texas Economy In Perspective
For the first several months of 2009, Austin was alone among major metros in continuing to see positive year-over-year job growth. That streak ended when revised May numbers were released by the Texas Workforce Commission. The initial release of July estimates shows that our losses since July 2008 are a relatively moderate -0.2%, meaning our "best performing" position continues to hold in our major metros ranking based on percent change in nonfarm payroll jobs.
Houston's 3.1% job loss rate has put it at 18th in this ranking for July, but Dallas, Fort Worth, and San Antonio continue to place in the top 10.
If this ranking was expanded to the 100 largest metros, instead of the 50 largest, there would only be three metros outperforming Austin. Two of those metros added jobs over the last 12 months: El Paso (0.9%) and Baton Rouge (0.2%).
The median rate of loss among the 50 largest metros is -4.1%. Nationally, the difference between July 2008 and July 2009 is -4.2%, and for Texas it is -2.1%. Eleven states outperform Texas on job growth.
New York is the best performing large state with job losses amounting to only -1.9% and three divisions of the New York MSA also make the best performing metros top 10 list. California's losses (-5.0%) put it at 43rd and the state's large metros have seen losses ranging from -4.2% to -6.0%. Two of California's metros, Sacramento and Riverside, fall into the bottom quintile of the 50 largest metros. The very bottom of the ranking includes Detroit and Warren, with well known job market issues, but also Phoenix and Las Vegas, metros that, previous to this recession, had been among the fastest growing.
When we looked at the data for Austin and other Texas metros last week in @theChamber after the TWC release of this data, two sectors set Austin apart. Austin saw growth in private service providing jobs (3,200 jobs or 0.6%), where the other large Texas metros saw losses; and in goods producing industries, Austin's losses (10,000 jobs or 9.4%) were more dramatic than those seen elsewhere.
Breaking out private service providing employment for the nation's top 50 metros also shows Austin to be the only metro with positive job growth.
For goods producing industries (manufacturing, construction and natural resources), Austin's -9.4% change would rank as the 18th best. In the top 10 performing metros nationally, only Washington saw a decline in goods producing jobs as large as Austin's, however that metro is considerably less concentrated in goods producing industries than Austin and other metros.
The dominant sector buoying Austin's performance is continued growth in government jobs (5,400 or 3.5%). Other Texas metros and the nation generally are seeing those jobs grow, however Austin benefits from the relative share that the sector represents here. Among the top 10 performing metros, only Washington and Virginia Beach also have a government sector accounting for more than 20% of total employment. The average government share in the other top performing metros is about 15%.
by Beverly Kerr, Chamber Vice President of Research
Houston's 3.1% job loss rate has put it at 18th in this ranking for July, but Dallas, Fort Worth, and San Antonio continue to place in the top 10.
If this ranking was expanded to the 100 largest metros, instead of the 50 largest, there would only be three metros outperforming Austin. Two of those metros added jobs over the last 12 months: El Paso (0.9%) and Baton Rouge (0.2%).
The median rate of loss among the 50 largest metros is -4.1%. Nationally, the difference between July 2008 and July 2009 is -4.2%, and for Texas it is -2.1%. Eleven states outperform Texas on job growth.
New York is the best performing large state with job losses amounting to only -1.9% and three divisions of the New York MSA also make the best performing metros top 10 list. California's losses (-5.0%) put it at 43rd and the state's large metros have seen losses ranging from -4.2% to -6.0%. Two of California's metros, Sacramento and Riverside, fall into the bottom quintile of the 50 largest metros. The very bottom of the ranking includes Detroit and Warren, with well known job market issues, but also Phoenix and Las Vegas, metros that, previous to this recession, had been among the fastest growing.
When we looked at the data for Austin and other Texas metros last week in @theChamber after the TWC release of this data, two sectors set Austin apart. Austin saw growth in private service providing jobs (3,200 jobs or 0.6%), where the other large Texas metros saw losses; and in goods producing industries, Austin's losses (10,000 jobs or 9.4%) were more dramatic than those seen elsewhere.
Breaking out private service providing employment for the nation's top 50 metros also shows Austin to be the only metro with positive job growth.
For goods producing industries (manufacturing, construction and natural resources), Austin's -9.4% change would rank as the 18th best. In the top 10 performing metros nationally, only Washington saw a decline in goods producing jobs as large as Austin's, however that metro is considerably less concentrated in goods producing industries than Austin and other metros.
The dominant sector buoying Austin's performance is continued growth in government jobs (5,400 or 3.5%). Other Texas metros and the nation generally are seeing those jobs grow, however Austin benefits from the relative share that the sector represents here. Among the top 10 performing metros, only Washington and Virginia Beach also have a government sector accounting for more than 20% of total employment. The average government share in the other top performing metros is about 15%.
by Beverly Kerr, Chamber Vice President of Research
Report: Austin among best performing U.S. metros
Austin Business Journal
Austin and San Antonio will be the first two U.S. cities to recover from the recession, according to a new national forecast from IHS Global Insight.
The forecast from the Lexington, Mass. economic research firm suggests the two Texas cities will bounce back to their pre-recession job levels sometime next year.
Eight other metropolitan areas are predicted to recover by 2011, a group that includes Texas’ two largest markets, Dallas-Fort Worth and Houston, along with Washington, D.C.
IHS Global Insight said most metros will start adding employment next year, but the increases are likely to be tepid. “Solid gains will not return for the majority of the country until 2011,” the report said.
Austin is also named one of the 20 best performing metropolitan areas in the second quarter of 2009, according to a study by the Brookings Institution.
The second quarter MetroMonitor report tracked nine metrics in 100 U.S. metro areas, and found Austin was a leader in many of those, from percent change in gross metropolitan product to percent change in housing prices.
Employment in Austin fell 0.5 percent from its pre-recession peak, that was the second-narrowest gap in the nation. The Texas Capital was also one of only three metro areas that surpassed their pre-recession peak output by the second quarter of 2009. Along with the other two cities, McAllen and Washington D.C., Austin was one of those least affected by the downturn.
The report’s authors said the figures reveal some stark differences in economic performance among metro areas.
“Signs at the national level that job and income losses are slowing continue to mask the highly variable performance of individual metropolitan economies,” said Alan Berube, co-author of the report. “While several metro areas may have reached a turning point, there are many others that still have not touched bottom, as well as a few that have almost fully recovered.”
Texas had the strongest showing, with six cities among the 20 strongest metro areas: Austin, Dallas, El Paso, Houston, McAllen and San Antonio. Florida dominated the
list of the 20 weakest metro areas with eight, including Bradenton, Cape Coral, Lakeland, Miami, Orlando, Palm Bay and Tampa
Austin and San Antonio will be the first two U.S. cities to recover from the recession, according to a new national forecast from IHS Global Insight.
The forecast from the Lexington, Mass. economic research firm suggests the two Texas cities will bounce back to their pre-recession job levels sometime next year.
Eight other metropolitan areas are predicted to recover by 2011, a group that includes Texas’ two largest markets, Dallas-Fort Worth and Houston, along with Washington, D.C.
IHS Global Insight said most metros will start adding employment next year, but the increases are likely to be tepid. “Solid gains will not return for the majority of the country until 2011,” the report said.
Austin is also named one of the 20 best performing metropolitan areas in the second quarter of 2009, according to a study by the Brookings Institution.
The second quarter MetroMonitor report tracked nine metrics in 100 U.S. metro areas, and found Austin was a leader in many of those, from percent change in gross metropolitan product to percent change in housing prices.
Employment in Austin fell 0.5 percent from its pre-recession peak, that was the second-narrowest gap in the nation. The Texas Capital was also one of only three metro areas that surpassed their pre-recession peak output by the second quarter of 2009. Along with the other two cities, McAllen and Washington D.C., Austin was one of those least affected by the downturn.
The report’s authors said the figures reveal some stark differences in economic performance among metro areas.
“Signs at the national level that job and income losses are slowing continue to mask the highly variable performance of individual metropolitan economies,” said Alan Berube, co-author of the report. “While several metro areas may have reached a turning point, there are many others that still have not touched bottom, as well as a few that have almost fully recovered.”
Texas had the strongest showing, with six cities among the 20 strongest metro areas: Austin, Dallas, El Paso, Houston, McAllen and San Antonio. Florida dominated the
list of the 20 weakest metro areas with eight, including Bradenton, Cape Coral, Lakeland, Miami, Orlando, Palm Bay and Tampa
Friday, October 12, 2007
The Austonian will be the Tallest Building in Austin!
So there is a another new Austin Condo development called the Austonian. All I have been hearing is how there is going to be an indoor dog park on the 10th floor with an scented self-cleaning dog toilet. Apparently the toilet has an aroma that attracts dogs to it. There has been so much talk about the dog park that it has been lost that the Austonian is, well, VERY huge.
I will post a picture shortly which will show the Austonian in comparison to the rest of Downtown Austin and how it will alter the Austin skyline. It will show the current tallest structure being the Frost Bank at a mere 33 stories. It almost looks quaint.
What are your thoughts on the Condo developement in Downtown Austin?
I will post a picture shortly which will show the Austonian in comparison to the rest of Downtown Austin and how it will alter the Austin skyline. It will show the current tallest structure being the Frost Bank at a mere 33 stories. It almost looks quaint.
What are your thoughts on the Condo developement in Downtown Austin?
Austin has a New 21 Acre Park
We have a new 21 acre park west of Palmer auditorium. It is a 21 Acre Park, I wasn't even aware that there was 21 acres west of Palmer auditorium. But to my surprise there is ! Aother park is a great idea. It's weird how land just magically appears. The park apparently has fountains that get into the air with LED lights.
There is also an 35 foot observation hill of the city. I've driven by there several times and remember seeing the hill. I remember it when it was just a pile of dirt which I thought they where going to move. Anyway, the observation hill is kinda a neat idea. Basically, it is a built up area where you can sit and look at the Austin skyline. There is also a labyrinth... and that is just awesome. So it's at 1006 Barton Springs. If anyone has gone by already, let me know what you thought.
There is also an 35 foot observation hill of the city. I've driven by there several times and remember seeing the hill. I remember it when it was just a pile of dirt which I thought they where going to move. Anyway, the observation hill is kinda a neat idea. Basically, it is a built up area where you can sit and look at the Austin skyline. There is also a labyrinth... and that is just awesome. So it's at 1006 Barton Springs. If anyone has gone by already, let me know what you thought.
Halloween Hauntings in Austin
Below you will find a couple of Halloween attractions with plenty of darkness, ghouls, and creepy scenery to get anyone into the Halloween mood. Enjoy and share your halloween experiences with us.
Mansion of Terror: Slaughter Circus and Freakshow - Excellent scare factor. Lots of ghouls coming at you in the darkness, confusing twists and turns, unexpected noises, things that pop out of walls and other places, and it seemed much longer than the 10 minutes or so it took to scurry through. Seriously afraid of clowns? You might not want to try this one. Single Admission: $12.00
Mansion of Terror: Pitch Dark 2 - Not as pitch dark as you might expect but still plenty of thrills in the dark. You'll get a flickering lantern to help you find your way although it doesn't stop you from running into walls and monsters everywhere. Don't tell them your name and don't stop to talk to the ghouls if you can help it! Oh, and watch your step. Single Admission: $12.00 Combo ticket for both Mansion of Terror attractions: $16.00
House of Torment Haunted House - Although the outside of the house looks much like previous years, there are new twists to an old favorite. Take a seat and watch a short movie clip then walk -- even if you want to run -- through a series of creepy rooms that feature not only sights and sounds to make you jump but also smells to freak you out. Even though I told myself I was going take more time to appreciate the great (though gruesome) scenery, I found myself caught up in the moment and rushing to get away from the house inhabitants.Single Admission: $12.99 + tax
House of Torment: Illusion Manor - Packed full of frights and tons of fun. It's one of those amusement park fun houses gone all creepy. Be prepared to duck, crawl, climb, balance, push, and pull your way through the maze of wacky rooms. And just when you think, hey, this is a pretty fun, fun house -- there's a ghoul there to greet you and send you dashing into more dark, spooky places. Do not attempt Illusion Manor if you're not prepared to get on your hands and knees, if you have serious problems with enclosed spaces or equilibrium problems (oh telling you that just makes you gotta go check it out doesn't it?). Single Admission: $12.99 + tax Monster Combo Pass for both House of Torment Attractions: $17.99 + tax
The Mansion of Terror is just outside Austin near Hastings at: 2000 South IH 35Round Rock, Texas 78681 Exit 251 behind the Taco Cabana 576-9570
You'll find the House of Torment:In a building behind Highland Mall, across from Foley's523 Highland Mall BlvdAustin, Texas
Have you been out to the Mansion of Terror or the House of Torment this year? Which attraction was your favorite and why? Give us your own fright report.
Mansion of Terror: Slaughter Circus and Freakshow - Excellent scare factor. Lots of ghouls coming at you in the darkness, confusing twists and turns, unexpected noises, things that pop out of walls and other places, and it seemed much longer than the 10 minutes or so it took to scurry through. Seriously afraid of clowns? You might not want to try this one. Single Admission: $12.00
Mansion of Terror: Pitch Dark 2 - Not as pitch dark as you might expect but still plenty of thrills in the dark. You'll get a flickering lantern to help you find your way although it doesn't stop you from running into walls and monsters everywhere. Don't tell them your name and don't stop to talk to the ghouls if you can help it! Oh, and watch your step. Single Admission: $12.00 Combo ticket for both Mansion of Terror attractions: $16.00
House of Torment Haunted House - Although the outside of the house looks much like previous years, there are new twists to an old favorite. Take a seat and watch a short movie clip then walk -- even if you want to run -- through a series of creepy rooms that feature not only sights and sounds to make you jump but also smells to freak you out. Even though I told myself I was going take more time to appreciate the great (though gruesome) scenery, I found myself caught up in the moment and rushing to get away from the house inhabitants.Single Admission: $12.99 + tax
House of Torment: Illusion Manor - Packed full of frights and tons of fun. It's one of those amusement park fun houses gone all creepy. Be prepared to duck, crawl, climb, balance, push, and pull your way through the maze of wacky rooms. And just when you think, hey, this is a pretty fun, fun house -- there's a ghoul there to greet you and send you dashing into more dark, spooky places. Do not attempt Illusion Manor if you're not prepared to get on your hands and knees, if you have serious problems with enclosed spaces or equilibrium problems (oh telling you that just makes you gotta go check it out doesn't it?). Single Admission: $12.99 + tax Monster Combo Pass for both House of Torment Attractions: $17.99 + tax
The Mansion of Terror is just outside Austin near Hastings at: 2000 South IH 35Round Rock, Texas 78681 Exit 251 behind the Taco Cabana 576-9570
You'll find the House of Torment:In a building behind Highland Mall, across from Foley's523 Highland Mall BlvdAustin, Texas
Have you been out to the Mansion of Terror or the House of Torment this year? Which attraction was your favorite and why? Give us your own fright report.
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