2020 | Annual Report
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Opportunity Austin 2020 | ANNUAL REPORT 1 Table of Contents Economy 5 – 2020 Scorecard 8 – Relocations 10 – Expansions & Relocations 13 – Global Technology & Innovation 14 – ConnectFirst Talent 16 – Education & Talent Place 19 – Transportation 20 – Local Advocacy 21 – State & Federal Advocacy OA 4.0 23 – Financials 24 – Regional Partners 28 – 2020 GAEDC Board of Directors 30 – Investors For more information: opportunityaustin.com Message to Investors Without question, the 2020 calendar year was dominated by the pandemic and the numerous challenges associated with the disease. As we reflect on the past year, we recognize that many individuals and businesses are struggling to start anew in 2021. That said, it is a fact that the Austin region fared better than most in the country and we are poised to lead the nation in recovery during 2021. Central Texans owe a debt of gratitude to those who invest in Opportunity Austin 4.0. Established in 2004, OA is now in the middle of its fourth five-year program of economic growth goals and objectives. As a result of your investment and personal involvement, we have much good news to share and to celebrate: #1 year in OA history for combined total jobs announced #1 year in OA history for jobs announced from relocations #3 year in OA history for jobs announced and number of projects for expansions 138 venture capital deals $1.78B for local companies In addition to the announcement of Tesla’s Giga Texas, for which the Austin Chamber/Opportunity Austin was awarded Business Facilities’ 2020 Deal of the Year Gold Award, we also welcomed relocations and expansions from Oracle, Amazon, BAE Systems and numerous other great companies. This activity resulted in 22,114 jobs announced - real jobs for real people so they may provide for their families. Recognition is appropriate for the entire Opportunity Austin staff for their tireless efforts to keep Austin working. The results of their labor underscore the importance of the Opportunity Austin mission and legacy. In fact, our success as a region is a testament to the support of our Opportunity Austin investors. Thanks for your generosity and support which are making a positive impact in this place we call home. Craig Enoch Gary Farmer 2020 Austin Chamber Board Chair 2020 Opportunity Austin Chair Economy “Texas’ capital is attracting more corporate jobs and remote workers than ever before, lured by lower costs and lower taxes. Business relocations to Austin announced this year are expected to create nearly 10,000 jobs. That is the city’s highest figure on record for a single year.” WALL STREET JOURNAL 2020 SCORECARD 2020 OA 4.0 GOAL CAMPAIGN (Year 2 of OA 4.0) (2019-2023) TO DATE New Jobs -11,500 161,000 29,900 Corporate Relocation Announcements 45 300 103 Local Company Expansions 109 500 227 Out-of-Region Visits 147 1,125 453 Prospect Visits to Central Texas 107 625 246 Regional Retention Surveys 732 1,400 1,201 459,800 total jobs created since 2004 5 A winning year There is no denying that 2020 was an extremely difficult year for many area businesses and families. The past year threw a lot of curveballs our way, but we also saw just how resilient the Austin-area economy has become. Not only did 2020 exceed all Opportunity Austin goals and expectations; it was also was an award-winning year for the Chamber’s economic development team. 2020 Deal of the Year Gold Award Business Facilities Business Facilities announced the Greater Austin Chamber of Commerce as the recipient of its 2020 Deal of the Year Gold Award for its work on bringing Tesla’s Giga Texas to the Austin region. ”The plant that will build Tesla’s first entry into the truck market was one of the most coveted projects of the year,” said Business Facilities Editor in Chief Jack Rogers. “The Cybertruck assembly plant vaults Austin into the top tier of automotive manufacturing hubs.” 2020 Mac Conway Award Site Selection Magazine Site Selection Magazine announced the Greater Austin Chamber of Commerce as a recipient of the 2020 Mac Conway Award, which is bestowed annually to the top economic development organizations in the country. “It is an honor to be recognized by Site Selection Magazine with the Mac Conway Award,” stated Opportunity Austin Chair Gary Farmer. “This award validates all the hard work and dedication of our investors, volunteers and staff in building one of the top economic development organizations in the country.” 6 The Chamber goes digital It was Friday the 13th of March 2020 when the Chamber sent staff to work from home “until the pandemic blows over,” but the team left with the conviction that whatever happened, this was the time to do even more to support our community. That following Monday, March 16, the Chamber hosted the first of what would be over 50 virtual events in 2020, an overview of what businesses needed to know about the new government disaster declarations. From organizing virtual meetings of the Opening Central Texas for Business Taskforce to creating an online economic recovery dashboard updated with real-time data, the Austin Chamber has embraced this new Zoom reality to continue to be a trusted resource for our business community. Vice President, Economic Development, Roland Peña meets with a prospect from his home via Zoom. 7 Relocations EMPLOYEE TOTAL COMPENSATION ECONOMIC IMPACT COMPANY EMPLOYMENT (MILLIONS) (MILLIONS) Indirect/ Indirect/ Direct Induced Total Direct Induced Total 8VC 15 21 36 $0.78 $1.11 $1.89 $2.96 AgencyKPI 30 26 56 3.62 1.32 4.94 10.93 Airbrake Technologies 10 9 19 1.21 0.44 1.65 3.64 Airtable 100 88 188 12.06 4.41 16.47 36.43 Amazon Buda Delivery Station 200 93 293 4.31 4.09 8.39 13.54 Amazon Kyle Sortation Center 200 93 293 4.31 4.09 8.39 13.54 Amazon Pflugerville Fulfillment Center 1,000 466 1,466 21.54 20.43 41.97 67.68 Amazon Round Rock Delivery Station • 900 419 1,319 19.38 18.39 37.77 60.91 Assurely 15 34 49 1.17 2.07 3.24 5.29 Astute Electronics • 36 69 105 5.94 3.47 9.41 16.44 Athlete Performance Solutions 12 13 25 0.74 0.72 1.46 2.25 BAE Systems • 700 1,182 1,882 99.10 65.25 164.35 348.13 The Boring Company • 75 90 165 5.57 4.68 10.24 17.05 Boston Consulting Group • 60 55 115 4.51 2.70 7.21 10.44 Canva • 60 53 113 7.23 2.65 9.88 21.86 Citadel Securities 15 12 27 1.50 0.58 2.08 2.75 CKD Corporation • 70 58 128 4.36 3.10 7.46 11.82 Curative • 200 139 339 12.64 6.98 19.62 33.48 DanceFight (Virtual Arts) • 20 145 165 2.63 8.41 11.04 19.51 Ethos Technologies 25 57 82 1.95 3.45 5.40 8.81 FileTrail 25 22 47 3.01 1.10 4.12 9.11 Flex Health • 600 777 1,377 37.26 46.01 83.26 162.64 Gecko Technology Partners • 25 48 73 4.13 2.41 6.54 11.42 GOTHAMS • 20 28 48 1.04 1.48 2.52 3.94 8 EMPLOYEE TOTAL COMPENSATION ECONOMIC IMPACT COMPANY EMPLOYMENT (MILLIONS) (MILLIONS) Indirect/ Indirect/ Direct Induced Total Direct Induced Total HumanCo 10 14 24 0.52 0.74 1.26 1.97 Investex (Triple Temp Cold Storage) • 60 73 133 2.50 3.33 5.83 10.49 Iron Ox 28 9 37 0.57 0.33 0.91 1.95 Jump Trading • 35 27 62 3.50 1.35 4.84 6.42 Kitchen United 30 37 67 1.25 1.67 2.91 5.24 Lowe’s • 70 33 103 1.51 1.43 2.94 4.74 LPL Financial 20 16 36 2.00 0.77 2.77 3.67 Momentum Extraction 65 184 249 4.00 8.81 12.80 24.87 Ooni • 25 74 99 3.90 3.73 7.62 17.07 Oracle Corp. 2,000 1,570 3,570 199.75 76.97 276.72 366.67 QuestionPro 100 88 188 12.06 4.41 16.47 36.43 Saleen Performance Parts • 150 214 364 16.95 11.29 28.25 61.80 Shell (Studio X) • 90 142 232 10.46 7.55 18.01 30.95 Simpatico Consulting • 10 9 19 0.75 0.45 1.20 1.74 Skimmer 10 9 19 1.21 0.44 1.65 3.64 Special Products & Mfg. • 30 24 54 1.85 1.32 3.16 4.61 Tesla • 5,000 8,519 13,519 352.58 478.25 830.83 5,895.38 Tomo Networks 50 69 119 5.77 3.54 9.31 13.27 Vilua Healthcare 25 15 40 1.41 0.75 2.16 3.28 Volcon • 100 116 216 7.18 6.37 13.54 23.71 TOTAL 12,421 15,308 27,729 895.98 826.32 1,722.30 7,429.20 • Projects directly assisted by the Austin Chamber. Impacts are derived from the IMPLAN modeling application based on announced direct job creation in the associated IMPLAN industry sector. 9 Expansions & Relocations LOCAL COMPANY EXPANSIONS & ANNOUNCED NEW JOBS COMPANIES JOBS OA 1.0 OA 2.0 OA 3.0 OA 4.0 COMPANIES JOBS 130 18,000 17,000 120 118 16,000 110 15,000 110 109 100 14,000 13,000 90 12,000 87 80 82 10,639 11,000 10,212 9,693 10,000 70 72 71 70 9,000 8,904 60 62 63 61 8,000 55 55 50 52 53 7,000 48 6,000 40 4,970 4,616 5,423 5,000 35 3,955 30 3,590 3,520 4,000 3,152 3,000 20 3,122 2,787 2,690 2,568 2,307 2,000 2,115 10 1,000 0 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 10 COMPANY RELOCATIONS & ANNOUNCED NEW JOBS COMPANIES JOBS OA 1.0 OA 2.0 OA 3.0 OA 4.0 COMPANIES JOBS 70 20,000 19,000 64 18,000 60 17,000 58 16,000 15,000 53 50 51 50 50 14,000 13,000 46 45 12,421 12,000 40 11,000 36 9,424 10,000 34 8,380 9,000 30 31 31 31 29 8,000 7,047 26 7,000 6,000 20 21 4,814 5,000 5,131 5,098 17 3,878 4,658 4,000 3,125 3,128 3,779 3,000 10 3,050 1,512 2,000 1,282 1,000 1,120 547 0 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 11 Welcoming Tesla The new Tesla Gigafactory, located in Del Valle ISD in eastern Travis County, will be one of the world’s largest and most advanced automotive plants and will bring an estimated $1 billion in capital investment to the region.