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Cleantech is booming in Austin.
Yesterday CleanTX, the development organization for clean technology in Central Texas, along with the Austin Technology Incubator (ATI), unveiled that the cleantech sector contributes approximately $2.5 billion to the region’s GDP and employs nearly 20,000 individuals in the Austin area.
The report also indicates the area’s cleantech employment is projected to grow 11.24% by 2020, almost twice the national growth rate, as compared to 9.3% Texas-statewide and 6.37% nationally.
"We have long known central Texas has a solid and fast growing clean technology ecosystem,” Austin Mayor Steve Adler said in a statement. “It is wonderful validation to have concrete data backing up these beliefs, and research providing us guidance as to where to put our energies for continued expansion.”
The report was conducted with research in collaboration with Civic Analytics.
“Cleantech encompasses a thriving, collaborative community of innovative professionals and businesses,” said Larry Weis, general manager, Austin Energy, in a statement. “Supporting this community is an important part of our local economy and having clear metrics to quantify and track progress is a great step forward.”
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