Economy
| Sector | Percentage |
|---|---|
| Government | 21.9% |
| Professional and business services |
13.3% |
| Retail trade | 10.4% |
| Education and health services |
10.2% |
| Leisure and hospitality | 10.1% |
| Manufacturing | 8.6% |
| Financial activities | 6.0% |
| Construction and mining | 5.6% |
| Wholesale trade | 5.3% |
| Information | 3.0% |
| Transportation, warehousing, and utilities |
1.6% |
| Other services | 3.9% |
Greater Austin has a diverse economy heavily anchored by government activities and education. High-tech firms, particularly related to semiconductors and software, are also important economic pillars. The five-county MSA had a gross domestic product of $86 billion in 2010, making it the 35th largest metropolitan economy in the U.S.
Most of the area's largest employers are all within the City of Austin. These include Advanced Micro Devices, Austin Independent School District, the City of Austin, Freescale Semiconductor, IBM, Seton Healthcare Network, the Texas Government, the United States Government, and the University of Texas at Austin. Major employers outside of Austin include Dell (Round Rock), MD/Totco in Cedar Park (a division of National Oilwell Varco), Southwestern University in Georgetown, and Texas State University in San Marcos.
Read more about this topic: Greater Austin
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)