Economist: Austin's population to double by 2040


by TINA SHIVELY / KVUE News and Photojournalist KENNETH NULL

Bio | Email | Follow: @TinaS_KVUE

Posted on December 12, 2013 at 2:19 PM

Updated Thursday, Dec 12 at 7:47 PM

AUSTIN -- The Austin area continues to grow so quickly that its population will double in less than 30 years. That's the latest prediction from Angelou Economics, an Austin firm that revealed its annual forecast in downtown Austin on Thursday.

By 2040 experts expect an additional 95,000 cars will fill area streets and highways as Austin's population reaches a staggering four million people.

Job growth is a major indicator of a city's success, and Austin will likely see that area grow.

The firm sees Austin creating 60,000 new jobs in the next two years.

To help fill those posts as well as existing jobs, 115,000 new people will likely move to Austin in that same time period.

Along with the population and jobs, many of Austin's markets continue to grow. Angelou says the industrial, commercial, retail and housing markets are all booming.
The company's chief strategist says just as Austin looks very different from when he moved here in 1984, it will look very different when the population doubles by 2040.
Angelos Angelou said Austin may eventually have several different "downtowns."

"Not all the people can move and come to a central point. We've seen that happen in Dallas and other large cities where pockets of downtowns or central business districts where people work and live will flourish throughout this region," Angelou said.

Angelou says with growth, comes growing pains. He says the real challenge will be adapting to changes and overcoming them, taking "a gangly teen like Austin" and making it a "graceful young adult."

For more information on Angelou's forecast, go here.