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Economic Development Shifts into High Gear

AUSTIN-It's time to court all types of companies: those that are here and those that might be willing to come, says a leading local economist. For too long, the focus on been on dealing with Austin's rapid growth rather than seeking more corporate residents.

By Tim Green | Updated on July 30, 2001

AUSTIN-What will fill the scads of real estate on the market in Austin is some good, old-fashioned economic development. That is, bringing companies in from out of town and out of state to fill up those increasingly vacant offices.

“One major announcement or two,” says economist Angelos Angelou, who last week forecast higher vacancy rates and a slow local economy until this time next year. “One or two good shots in the arm, whether they are companies that are here that plan to expand or perhaps a new company or two coming to Austin, and we can absorb some real estate, this forecast will change significantly.”

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