Develop Austin Texas

We’ve said it before and we are saying it again now. The Austin market has been and will remain relatively immune to the recent economic downturn. With news coming out that the national economy is starting to look up, analysts are looking for places that are going to recover the fastest and Austin tops the list according a recent Forbes article. Because of our diverse economy, continued population growth and immunity to the past housing crisis (and by past I mean in the past!), the Austin area is poised to show the strongest positive economic growth of any U.S. city by the end of this year.

I just watched the Texaplex video that has been floating around lately. It presents some great facts about our strong economy, job growth and population in the triangle formed by Houston, Dallas, Ft. Worth, Austin and San Antonio. I don’t agree with the blanket term “Texaplex” used to describe the triangle since these are all vastly different cities with their own economies and more importantly their own social and cultural identities. Watch the video and let me know your thoughts…

Last week, the administration announced they were eliminating all fees on the SBA’s most popular loan, the 7a loans, as well as CDC/504 loans. They are guaranteeing larger portions of loans (up to 90%) and offering 0% interest loans for small businesses that are falling behind on current loans. This loosening of restrictions will allow current businesses to grow and new businesses to start up.

While banks aren’t going to be handing money over to anyone who walks in off the street with a business plan, they are going to be making it easier for smaller businesses to get access to funds that will help them grow.  Business growth equals job growth.  The more jobs created the greater the demand for housing, land, etc…  It will be interesting to see whether or not existing business will take advantage of this opportunity and if it will pay off in the form of job growth in Central Texas.