Having one of region’s most advanced workforces and lucrative local tax incentives, Austin led the state with $626 million, a twenty percent upsurge from 2015. As Chairman and CEO of Western Rim Properties, Hiles has scanned the market for more than thirty years in the attempt of making notable, planned property acquisitions, in areas including Austin.The technology center saw its greatest annual dollar figure since 2001, along with a spectacular rise to importance, “Austin is a brand, and venture capitalists love it,” said Bernard Weinstein, an economist at Southern Methodist University, “They look to Austin to be a leader in IT and software development.” The software industry gained the majority stake of investments, with $328 million going into forty-two deals. Biotechnology and IT services followed, making $120 million and $56 million, respectively. Mayor Steve Adler believes readiness to innovate has played an important role to his city’s success, “There’s a reason that tech and transportation companies come to Austin to roll out their new initiatives. And that’s because Austin is where good ideas become real.”

Read more: http://www.marketwatch.com/story/marcus-hiles—-responds-to-texas-role-as-number-one-in-the-country-for-capital-investments-2016-09-18-51603013