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(Stuart SEeger/CC)
Austin is no stranger to growth, rapidly at that. According to a recent LinkedIn report, Austin's population is growing faster than you can say, "Howdy y'all," making it the city with the most newcomers in the U.S. this year.
The data compiled by LinkedIn was based on its 174 million U.S. users and showed that moves were most popular from April 2020 to October 2020.
Austin topped the list of 10 cities with the highest growth rates, charting that for every person to leave Austin, 1.53 people came in. Right behind Austin, Phoenix, Arizona, tracked 1.48 new residents for everyone that left.
Austin was also not the only Texas city on the list: Dallas ranked seventh, with 1.35 new residents for everyone that left.
Austin has received a number of accolades this year: The Wall Street Journal called Austin a "magnet" for jobs, it was named the second-highest college town in the U.S. and the number one tech town in the U.S.
Most residents are coming from big cities, looking for a break from the high costs of living and taxes that large metro areas are famous for.
Plus, everyone is doing it, with major celebrities, like Joe Rogan and James Van Der Beek, and major companies, like Tesla and Oracle, announcing moves to Austin.
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Elon Musk joined Tesla's second quarter earnings call from the Giga Texas site in Southeast Travis County on Monday. (Bob Daemmrich)
The electric carmaker reported more than $1 billion in quarterly net income and the production of more than 200,000 vehicles for the first time despite challenges such as a global semiconductor shortage.
"It … seems that public sentiment towards electric vehicles is at an inflection point, and at this point, I think, almost everyone agrees electric vehicles are the only way forward," Musk said.
Despite rising consumer demand and adequate factory capacity, Tesla faces what Musk described as a "quite serious" global semiconductor shortage, which will determine the company's growth rate for the rest of the year.
With increased revenue and production, Tesla is investing in new factories, Chief Financial Officer Zachary Kirkhorn said. These include Giga Texas, the $1.1 billion manufacturing plant that broke ground last summer and is slated to open later this year.
The Giga Texas factory in Southeast Travis County has rapidly increased in size since ground broke last August. (Tesla)
Musk commended the construction team for "incredible progress," transforming what was basically a vacant site into "a mostly complete large factory a year later."
Giga Texas will produce the highly anticipated Cybertruck, along with other models, but Musk said scaling its production will be difficult, especially given the supply chain delays caused by the pandemic. "It's going to move as fast as the slowest of its up to 10,000 unique parts," he said.
In other news, Musk said Monday's earnings call would likely be his last regular appearance, only jumping on future quarterly calls when big announcements warrant it.
Tesla Solar recently made news when it announced plans to build the nation's most sustainable residential community in Southeast Austin earlier this month. The newly built homes will feature Tesla solar roof tiles and Powerwall battery storage as well as electric vehicle charging stations.
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