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Rising Rent Costs Strike Sour Chords in Austin

AUSTIN-A new report is singing the blues over the impact of rising commercial and residential rent on Austin's music industry. The industry pumps about $616 million into the economy and generates $11 million in city taxes. Creativity is at stake, says the report.

By Tim Green | Updated on September 27, 2001

AUSTIN-Musicians, singers and songwriters have been attracted to Austin by many of the same factors that have attracted companies to Austin over the years. Those factors include a low cost of living, a young and educated workforce and the University of Texas.

A new study for the City of Austin shows how making music has made money, which, in turn, has made it hard to make music. The report, put together by the Austin-based economic consulting firm Texas Perspectives, says the music business provides 11,200 jobs and generates about $616 million in economy activity and $11 million in city taxes. And, it brings in tourists and puts them in hotel and motel rooms.

The music industry also plays a key role in the creative nexus between entrepreneurship, technology and the arts that contributes to Austin’s singularity. “What appears to set Austin apart from most other communities is this concentration of creativity,” the report says.

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