The city of Austin has often been known as a place of music, culture, and entertainment, but it is quickly becoming a leader in technology and innovation.
Oracle, the world’s second largest software company, is expanding their reach in the Austin area by building a sizable new campus. This new campus will expand their team by at least 50% over the course of the next few years. Oracle already has two large facilities in Austin and is looking to draw from a pool of a highly skilled, tech-focused, workers that call Austin home.
Oracle isn’t the only major tech company that has a presence in Austin; Apple has a campus with over 3,000 employees and other companies such as BigCommerce, Legal Zoom, Dropbox, and Demand Media are hiring and growing in the area.
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What This Means for Real Estate Investors
As tech companies continue to expand in the Austin area, signs of a strong economy are evident through job growth. This will continue to increase the value of real estate in the area (which is already higher than many other cities throughout the rest of the state), as well as keep the demand for rental properties high. Trends across the nation already show the demand for rental properties increasing, and that trend is only expected to increase in Austin with the availability of jobs from the tech sector.