Whether or not the Formula One Grand Prix will be a good thing for the city of Austin is a subject that is still a matter of much debate. One area of discussion is whether or not the presence of the F1 track and event will be helpful to local businesses.
The bottom line is that the F1 event will be bringing some of the most powerful business people in the world into Austin and there is no doubt that it will have a significant impact on the local technology scene. Two major Austin businesses, Advanced Micro Devices Inc. and Freescale Semiconductor Inc. both have deep ties to the event, as does IBM Inc., which also has significant operations within Austin. With the connections that these businesses already have to F1, it is almost guaranteed that bringing
According to the Federal Housing Finance Agency and the data collected by Moody's Economy.com, home prices in the Austin area should stop falling by the final quarter of this year. Furthermore, according to a Fiserv Inc. report that was released earlier this month, the prices of homes in the Central Texas area are likely to start increasing by the first quarter of 2011 and will likely reach their pre-recession levels by 2016.
Although the analysts predict that home prices will have fallen a total of 4.8% by the time the downward spiral reaches its projected bottom at the end of the year, it has still been a far shorter fall when compared to the national average. In fact, the city did quite well when compared to the 374 markets that were included in the…
Formula 1 has announced today that Austin, Texas will host a Formula 1 Grand Prix race starting in 2012. A new racetrack will be constructed in Austin, and this new facility will be one of the best in the world. This is a tremendous opportunity for the city, and a dream come true for racing fans. We can hardly wait!!!
Formula One Officials Select Austin to as New Home of Formula One
Formula One World Championship Limited, Formula One Administration Limited and Full Throughout Productions, LP have recently announced that Austin will serve as the host city to the Formula 1 United States Grand Prix from 2012 through 2021.
“We are extremely honored and proud to reach an agreement with the FI Commercial Rights Holder,” said Tavo Hellmund, who is the…
The Texas Workforce Commission had good news to report to Central Texas residents in the middle of April - the unemployment rate in the area dropped for the second month in a row in March. As such, the unemployment rate is down from 7.3% in February to 7.1% in March.
According to the commission, the Austin-San Marcos-Round Rock area added 4,600 jobs from month to month. Nonetheless, the total number of nonagricultural jobs was down to 760,300 when comparing one year to the next, representing a reduction of 500 positions. Furthermore, in March of 2009, the unemployment rate in Central Texas was lower at 6.6%.
The greatest number of positions were added in the leisure and hospitality industry, which added 2,100 jobs from February to March. Government…
For Austin residents who love exotic automobiles, a new Ferrari dealership is certainly exciting news! Located at 4108 N. Lamar Boulevard, Ferrari of Austin will sell new and pre-owned vehicles while also offering service, insurance and financing. The new dealership will feature new Ferrari models ranging in price from $200,000 to $350,000.
The grand opening event, which is by invitation only, will take place on the afternoon of the 25th. As part of the grand opening festivities, the new Ferrari 458 Italia will be unveiled. The much-anticipated new model won't hit the Texas market, however, until sometime this summer. The mid-engined sports car will replace the Ferrari F430 and has a base MSRP of $230,675. The official 0-60 acceleration speed of the
According to a new Portfolio.com/bizjournals study, the Southwest is the place to go for young adults who are looking for a place to work and to settle down. In fact, three of the top ten places identified as the best places for young adults to live are located in the Southwest, with Austin taking the number one position.
Although there are many reasons for young adults to want to live in Austin, there were two main reasons why the city took the top honors. One of these reasons is the fact that Austin actually managed to add 99,200 jobs over the past five years, while two-thirds of the country's major markets actually have fewer jobs now than they had five years ago. With an annual employment growth rate of 2.8%, Austin has enjoyed the fastest growth rate
One of the biggest draws to living in the Austin area is the fact that employment opportunities are quite abundant when compared to many other metropolitan areas throughout the country. While there is no doubt that Austin unemployment rates did take a bit of a hit during these difficult economic times, the city has managed to do quite well when compared to national averages and even when compared to the rest of the state. Furthermore, according to some data recently released by the Texas Workforce Commission, unemployment rates in the Austin-Round Rock-San Marcos area are only getting better.
According to the Texas Workforce Commission, unemployment rates in the Austin-Round Rock-San Marcos area jumped from 7% in December to 7.6% in January. Things got…
According to a recent study conducted by J.D. Power and Associates, Austin Bergstrom International Airport showed a strong standing in passenger satisfaction when compared to other national competitors.
Austin Bergstrom International Airport managed to come in the fifth position on a list of the 25 best small airports, which is defined as an airport that sees less than 10 million passengers per year. The study, which was entitled the 2010 North America Satisfaction Study, was based on responses received from more than 12,100 passengers who took flights last year.
Among the small airports included on the list, Indianapolis International took the top spot, while San Jose International airport came in the last position. Among the larger airports that serve 30…
Fortune magazine has released its list of the top 100 places to work in the country and two Austin companies - Whole Foods Market Inc. and National Instruments - were included in the list.
Companies were selected to be included on the list according to pay, benefits, job security and a variety of other factors. In the end, a total of 13 Texas companies were included on the list, which was more than any state other than California. California has a total of 16 companies included on the list, but Whole Foods Market Inc managed to grab the 18th position while National Instruments came in at number 87 making it the 11th consecutive year the company has been included on the list. Other Texas employers to be included on the list were:
Austin's Sail and Ski Center recently announced that it has been selected to host the AquaPalooza Signature Event in 2010. Advertised as "The World's Largest Boat Party," the AquaPalooza event showcased 15,600 boats last year and saw 84,000 visitors. This year, organizers expect the event to be even bigger than last year.
Held during the last two weekends in July, the free AquaPalooza event was created by Sea Bass Boats and is open to both boaters as well as non-boaters. This is the first time the event will be held on Lake Travis, however, as the lake levels had been to low in the past to host the event.
"Unfortunately the rains didn't come and the lake levels continued to drop off, so we were not able to host the event," said Laura Mitchell, who is a
Formula One Officials Select Austin to as New Home of Formula One
