AUSTIN, Texas — A new report ranks Austin as the No. 2 fastest-growing U.S. city in 2022.
The report, released Tuesday, is part of the launch of the "American Growth Project." The new initiative from the University of North Carolina's Kenan Institute of Private Enterprise aims to provide "up-to-the-minute economic data, analysis and forecasting for towns, cities and rural communities across the country," according to a press release from the Kenan Institute.
The "2022's Fastest-Growing Cities in the U.S., Ranked" report took a look at the nation's 50 largest metropolitan areas. San Francisco came in at No. 1, followed by Austin and Seattle.
"Austin’s status as a technology hub along with its high concentration of venture capital, warm climate and vibrant cultural offerings lead to frequent comparisons with the Bay Area – and in fact, high-profile Silicon Valley companies, including Amazon, Google, Oracle and Tesla, have recently expanded their operations in Austin," the report reads in part.
The Kenan Institute said the American Growth Project as a whole will "provide a deeper understanding of the U.S. economy and the many diverse microeconomies that together create it." This initial report will be followed by additional insights, forecasts and rankings in the coming months.