Round Rock is on a roll, securing its spot once again among the elite economic performers in the nation. The workspace solutions index CoworkingCafe has pegged this Texas city as a top contender for economic growth, specifically honoring it as one of the top small cities. With a population under 250,000, Round Rock not only made the list but climbed up a notch to the 14th position this year, improving on its 15th-place ranking from the previous year.
Driving its economic engine forward, Round Rock has seen substantial growth in its gross domestic product (GDP). According to an announcement by the City of Round Rock, there's been an eyebrow-raising 51 percent increase in goods and services produced from 2019 to 2023. Its success story doesn't end there: with an impressive 34 percent uptick in median earnings and a dip in unemployment by 2 percent, Round Rock has become a beacon of job market strength, ranking among the top 20 small cities in joblessness rates.
But it’s not all about percentages and figures. The human side of this economic narrative is seen in the housing market and city infrastructure development – areas where Round Rock has made significant strides. The number of housing units has surged by 15 percent. Simultaneously, the total amount of roadway miles has grown by 10 percent, facilitating access and opening new avenues for development.
CoworkingCafe's methodology for this accolade involved a comprehensive look at indicators such as job gains, GDP growth, and housing developments, as well as infrastructure buildout, earnings, educational attainment, and population growth. Their data-driven approach laid the framework for determining top-performing cities – and once again, Round Rock came out on top.
