Economic Development

Downtown has substantial economic importance, despite making up a small share of Austin’s land area. In 2019 alone, downtown contributed more than $732 million in tax revenue that pays for education, parks and public services throughout the city.

We entered the new decade in a position of incredible strength, with growth in nearly every sector of our urban core. At the beginning of 2020, the challenges we faced were those born of growth: affordability, mobility, lack of diversity downtown and homelessness issues. However, the COVID-19 pandemic halted the building momentum, leaving downtown sidewalks barren and businesses empty.

The Downtown Austin Alliance has pivoted quickly, collaborating with business and city and state government leaders to determine how to best respond to the current crisis and to develop a plan for recovery.

As the path toward recovery becomes clearer, we are committed to preserving and enhancing the assets that make downtown unique. We will continue to champion big projects that will help us recover, aid the economy, improve our mobility and strengthen our resiliency.