Austin Tops the Nation for Business

Austin is the best place for business in the U.S., according to Moody's Economy.com Inc.

Moody's, an independent economic research firm, reported that the Austin-Round Rock Metropolitan Statistical Area (MSA) earned the top spot over almost 400 metropolitan areas tracked by the company's economic vitality index. In the last index, published in March 2007, Austin-Round Rock MSA ranked seventh.

The index, published since 2001, evaluates current economic conditions, expected trends, and potential risks, taking into account factors such as employment growth, household income, productivity, net migration, industrial diversity, and cost of doing business.

According to the Capital Area Council of Governments, or CAPCOG, the index is watched closely by agents involved with corporate expansions and relocations including market researchers and site selection firms.

"Austin's No. 1 ranking is something the entire region can be proud of," says Betty Voights, executive director at CAPCOG, which commissions the report from Moody's Economy.com. "Economic development today is a competition among regions, and this top ranking serves as a strong message about our commitment to working together toward regional success."