Agenda Item 2: Opportunity Austin Presentation — original pdf

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City of Austin Economic Prosperity Commission OPPORTUNITY AUSTIN Our mission is to strengthen the competitiveness and resiliency of the Austin region. How do we do it? By fostering job-creating investments while also advocating for policies and programs that nurture our workforce, quality of life and pro-business climate WHERE WE STARTED ABOUT OPPORTUNITY AUSTIN Early 2000s Recession eliminated 15,000 jobs in Tech 2004 OA was founded to increase economic resiliency of the Austin region. Launched OA1.0 2009 Launched OA2.0 2014 Launched OA3.0 2019 Launched OA3.0 2024 Launched OA5.0 Opportunity Austin has helped bring more than 600,000 jobs to the Austin region. WHERE WE ARE NOW Austin ranked as the Best-Performing City by the Milken Institute. This study measures each metro area’s economic performance using outcomes-based metrics of labor market performance, high tech impact, and access to economic opportunities. Source: Milken Institute, Best-Performing Cities 2024, February 6, 2024. ABOUT AUSTIN Metro Population 2.5M 11th Largest City As per U.S. 2020 Census Low Cost of Living Below National Average OPPORTUNITY AUSTIN PILLARS OPPORTUNITY AUSTIN 5.0 Economic Development Global Innovation & Expansion Workforce Development Policy & Advocacy ECONOMIC DEVELOPMENT Recruitment, Expansion, Retention Target Industries Real Estate, Maps, & Research RELOCATIONS & EXPANSIONS 600,000+ Total Jobs Created 2,500 Companies 230,000 Direct Jobs Relocations & Expansions 2004 - July 2024 2,454 companies | 229,813 jobs Relocations Expansions Total Jobs OA 4.0 2019-2023 842 companies 96,676 jobs 26,877 138 22,124 19,856 OA 5.0 2024-2028 66 companies 6,156 jobs 28,000 250 200 150 100 50 0 OA 2004-2008 459 companies 27,752 jobs OA 2.0 2009-2013 411 companies 34,097 jobs 72 71 62 7,741 48 61 6,568 4,664 4,069 31 26 36 31 4,710 21 35 2,662 17 52 5,435 29 34 31 OA 3.0 2014-2018 676 companies 65,132 jobs 20,063 110 110 118 13,562 101 14,257 9,615 7,734 53 55 55 8,651 82 87 13,262 63 11,502 70 10,068 10,237 64 50 53 50 51 46 58 45 90 64 81 37 23,000 18,000 13,000 6,156 8,000 36 30 3,000 (2,000) 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 TARGET INDUSTRIES Advanced Manufacturing Aerospace & Defense Clean Technology Financial Services Life Sciences Semiconductors Space Technology GLOBAL INVESTMENT & INNOVATION Austin’s Innovation Ecosystem makes us globally competitive. International Recruitment, Expansion, and Retention Global Investment Innovation Ecosystem GLOBAL & INNOVATION 4,500 Startups 200+ Venture Capitalists 5,000+ Funding Rounds 9 Trade Offices INNOVATION Austin is where creativity and commerce collide. Austin has become one of the hottest cities in the world for creativity, tech talent, and innovation. Top 10 for VC Investment Since 2013 67 Unicorns 35 of which are HQ’d in Austin GLOBAL By facilitating bi-lateral connections for the Austin region and countries around the world, we provide access to established and emerging economies. 400+ Companies Owned by entities outside of the U.S. 60,000 Workers Employed by international companies and have owners HQ’d in 35 countries. GLOBAL Soft landing program Ecosystem immersion resources for startups & scaleups Expansion of Austin businesses to foreign markets Global capital attraction and growth Relocation of foreign businesses to the Austin region Delegation Assistance International exporting and recruiting international business WORKFORCE DEVELOPMENT 70,000 Available jobs posted in the Austin region 56% Of those postings require at least a bachelor’s degree 1,600 jobs in Innovation Per the Innovation Ecosystem platform, Dealroom 340 jobs announced Through new relocations or expansion plans WORKFORCE DEVELOPMENT We partner with industry to identify needs and create programs that address current and future requirements of employers and professionals in the Austin region. WORKFORCE DEVELOPMENT K-12 Make It Movement Ad campaign for students to start their journey In Class Shadow Days Professionals showcasing their businesses in the classroom Onsite Shadowing Days Students shadowing careers at a business Teacher Externships Workforce insights for student instructors WORKFORCE DEVELOPMENT Pathways FAFSA Connects to ANY post-secondary career path training provider. • FAFSA Events engage with businesses directly to get them involved with future workforce, today. TRIO Summer engagement Internships/Mentorships Tailored based on industry & student needs WORKFORCE DEVELOPMENT Early to Mid-Career By fostering direct access to valuable career-building opportunities, we ensure that individuals can navigate professional journeys effectively. Talent Ambassadors • Engages with employers from all stages of the workforce pipeline Connects with schools, colleges, and training providers Strategic enabler • • WORKFORCE DEVELOPMENT Results 14,000+ students served Since creation of Opportunity Austin $267M in aid funding Awarded for Austin region students 200 FAFSA Volunteers Trained since the creation of Opportunity Austin 10,000 students received support From high school to college & career transitions CITY OF AUSTIN AGREEMENT & AMENDMENTS Action Action Amount Total Contract Amount Initial Term: 1/15/20 – 1/14/21 Amendment No. 1: Term Extension 1/15/21 – 1/14/22 Amendment No. 2: Term Extension 1/15/22 – 1/14/23 $350,000.00 $350,000.00 $350,000.00 $700,000.00 $350,000.00 $1,050,000.00 NATIONAL MARKETING Goal: Execute a media campaign to a national business audience to create awareness of Austin's and Central Texas' location to operate a business and create jobs. Objectives: • Create advertisements that differentiate Austin from other communities • Identify appropriate business publications for placement of advertising that reaches the targeted audience. Q2 Results Marketing & Comms team 28 NorthStar: Tradeshow Amplification Digital Advertising: Retargeting Campaign A digital campaign launched May 20th and will run through the end of July to reach C-Suite executives in Life Sciences businesses with at least 100+ employees. Tactics include: The media plan will support include a geofence effort that reaches attendees of both the BIO 2024 and SelectUSA Investment Summit conferences this summer. Effort includes both display and video creative units. around the video. Total media cost: $48,000 • Job Title Targeting, Account Based Marketing (ABM) Targeting, Site Retargeting, Location Targeting (Conference Attendees) Video Placements will use both programmatic placed video units as well as a high impact video unit that creates a branded canvas • Estimated Impressions: 4,563,244 • Estimated Value Added Impressions: 45,00 • Total Impressions: 4,608,244 NorthStar: Tradeshow Amplification Digital Advertising: Campaign Summary In support the BIO & SelectUSA trade shows, North Star spearheaded a paid digital media campaign targeting probable and past event attendees as well as relevant Opportunity Austin (OA) prospects. With the objectives of raising awareness of OA and the Austin region through increased website visits, the campaign deployed a three part strategy: Pre Event: Target probable upcoming and prior event attendees, and other relevant OA prospects, by 1) leveraging past geofence data from 2023 venues and 2) building a list of target company names and job titles through OA’s existing database/pipeline and companies attending or likely to attend the conferences. At Event: Layer in active geofences for the 2024 conferences. Geofences for digital display and other media encompassed the event venues exclusively. Post Event: Retarget all individuals who engage with an OA ad at any point during the campaign for approximately 30 days after each conference. NorthStar: Tradeshow Amplification Digital Advertising: Targeting Strategy • Company & Job title targeting • C-suite executives at companies with 100+ employees • Account based marketing targeting • Site retargeting • Location targeting via Geofencing (Conference attendees) Digital Banner Ads In support from North Star Campaign launch: May 28 Results: Impressions Clicks Click thru Rate Cost Cost Per Click 1,797,292 2,600 0.14% $19,915 $7.66 3,500 landing page views 2,500% increase Digital Banner Ads In support from North Star Campaign launch: June 13 748,122 1,352 Results: Impressions Clicks Click thru Rate 0.18% Cost $8,723.04 Cost Per Click $6.45 Site Selection Magazine Texas Guide Opportunity Austin was be prominently featured in our new brand, showcased in the Texas Economic Development Guide distributed across various platforms, including: • • • 12,500 printed copies 5,000 copies at trade shows and events 7,500 copies polybagged with the May issue of Site Selection magazine. Total media cost: $3,520.00 FORTUNE Magazine Texas Hub Targeting Fortune's influential audience of C-Suite leaders and business decision-makers, FORTUNE and Governor Abbott celebrated the great state of Texas in a program aligned with the 70th anniversary of the FORTUNE 500 list. We reached FORTUNE.com's 27.5 million digital users and FORTUNE Magazine's 2.3 million influential readers, showcasing the Austin region’s unparalleled economic momentum. Placement includes: • Native Promotional ad, social amplification, native post (desktop/tablet, mobile/tablet, banner) Total media cost: $10,000 FORTUNE Magazine Digital Results On the Ad itself: Impressions: Clicks: 391,651 33,524 Click thu rate: 8.56% Landing page on Texas Hub: Page views: Avg time: 4,318 16 sec Social: Impressions: 341,728 Clicks: 30,642 Engagement rate: 9% • • • • • • • • WORKFORCE DEVELOPMENT Goal: Execute a strategy to close the performance achievement gap at the high school level among the most at-risk students. Objectives: • Define and implement one high school group tutoring project focused on improving grade point average ("GPA"), TAKS performance and attendance of at-risk students • Create a sustainable, standardized one on one tutoring development program. WORKFORCE DEVELOPMENT Programs: • APIE, AISD & ACC Collaboration • Serving: 11 Austin ISD Middle and High School Campuses • Implemented High School College Readiness Case Management Strategy at: Akins, Crockett, Eastside, Navarro, LBJ, Northeast, and Travis • Implemented Middle School College Readiness Case Management Strategy at: Covington, Dobie, Webb, and Martin middle school campuses. • 6 College Readiness Advocates • 132 Trained Tutors and Mentors • FAFSA • Student Focus Groups • Individual Student Data Tracking CLEAN TECH Goal: Clean Energy Technology Business Development: Attract/recruit clean energy technology businesses and related support businesses to Austin. Objectives: • Develop a strategy to determine initial focus for attracting clean energy technology businesses. • Hire staff to focus on implementing business attraction strategies. New project/prospects developed 2024 Q1 only: 61 projects CleanTech - 23 Automotive - 20 Semiconductor - 8 Food & Beverage - 4 Manufacturing - 3 Data Centers - 3 3 3 4 8 20 23 Project breakdown by industry type 2024 Q1 Number of New Project Leads by Industry Type per Quarter Q2 Q3 Q4 Total Industry Type Automotive CleanTech Data centers Food/beverage Manufacturing/other Semiconductor Total Q1 20 23 3 4 3 8 61