Austin Poised for Steady Growth

Over the next half a decade, Austin's economy is predicted to grow at an annual rate of just over 4.5%, says a new report filed today by the Perryman Group, an economic/financial analysis firm based in Waco. Our "metropolitan statistical area," which covers five counties and over 1.4 million people, ranks as the fastest growing in the state. Their breakdown, in numbers:

The 4.58 percent rate is projected compound annual growth rate for 2005 to 2010. The region's population will grow from 1.43 million to 1.58 million in the same time period, the report projects. Personal income will also grow, from $44.96 billion to $55.53 billion. And retail sales will grow from $42.45 billion to $60.25 billion.

The primary vehicle for this growth? According to the report: the microelectronics industry.