Austin Named America’s Top Boomtown

Bloomberg has ranked Austin as the nation's top boomtown, based on its strong economic growth. Their list of top boomtown's was compiled by assessing population growth and gross domestic product growth.

Austin took the top spot in population growth with 11.6 percent over the past five years, and 3.26 percent annual GDP growth. The U.S. Census Bureau has shown that the Austin area population grew from 1.59 million in 2007, to 1.78 million in 2011.

Bloomberg notes that much of the growth is due to high-tech jobs and workers moving to the city, as well as the expanding reach of South By Southwest. Apple is also cited as a factor in Austin's growing prosperity.

Read more about the survey here.

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