Austin has a strong history of being a tech hub dating back to the 1980s when companies including IBM, Texas Instruments and Dell established early roots in the city. Since that time, Austin (also known as Silicon Hills) has evolved into a world-renowned tech town with Fortune 500 companies – including Apple, Google, Meta (Facebook), Amazon, Samsung, Indeed and others – fueling further tech growth and employing thousands. Over the past two years, a steady stream of tech companies fleeing other large metro areas have relocated to the area to capitalize on Austin’s business-friendly climate, including both Tesla and Oracle, which have both relocated their headquarters to the Texas capital.
Austin has a reputation as one of the most desirable cities to live in the U.S., ranking at or near the top of The Best Places to Live (U.S. News & World Report) for over five consecutive years. Austin is attractive for an abundance of outdoor activities, a world-renowned music and food scene, great weather, a top-tier educational system in The University of Texas as well as a lower cost of living compared to other major markets, including a lack of state and corporate income tax.
The top submarkets for tech tenants are the CBD and Far Northwest Austin, and more specifically The Domain, which is a high-density, mixed-use development and is home to several large international tech companies, including Facebook, Amazon, Vrbo, Indeed and Accruent.