TEXAS ASIAN ECONOMIC IMPACT PROJECT
The goal of the Texas Asian Economic Impact Project is to provide the most comprehensive set of actionable demographic and business insights on the Asian population here in the Greater Austin region.
Did you know that in each of the counties in the five county Greater Austin area, Asians are the fastest or second-fastest-growing ethnic group? The social and economic impact of Asian American Pacific Islanders (AAPI) in Central Texas is undeniable. These diverse communities add talent, buying power, and dynamic cultural impact to our region, and as we will explore, this impact is just beginning.
But who are they? A lack of current data and rigorous analysis of Central Texas’ AAPI populations can make it difficult for AAPI communities – like other communities of color – to receive the awareness and policy support needed to promote and achieve economic equity. Without a more complete understanding of the composition, geographic distribution, or ethnic makeup of these communities, it is difficult to effectively engage and fully include them in Central Texas’ civic and economic growth.
The Texas Asian Economic Impact Project aims to address this gap by exploring and sharing the most comprehensive set of actionable demographic and business insights on the Asian population here in the Greater Austin region. The first phase of this multi-phase effort will roll out between May and December, 2023 with multiple reports, surveys, and interactive data dashboards being made available to the public.
Austin is now firmly established as a destination city for Asian households from a wide variety of national backgrounds and ethnicities. Central Texas is poised for continued growth as a vibrant, thriving, and diverse region as the Asian community exerts substantial economic and cultural energy into the community.
Asians are the fastest-growing racial group in the Greater Austin region.
The total Asian population in Greater Austin has doubled between 2010 and 2021.
Austin’s Asian community is highly diverse with significant populations coming from Indians, Chinese, Vietnamese, Koreans and Filipinos, among others.
Greater Austin has seen a significant influx of foreign-born Asians in the past decade.
Asians are the most highly educated and high-earning population group in Central Texas; typically working in business, management, and science professions.
Asians are a key contributor to Austin’s burgeoning knowledge economy and ability to compete with other cities and metros for jobs and talent.
A MULTI-PHASE EFFORT
The Texas Asian Economic Landscape Project began in Fall, 2022 when an ad-hoc team of data scientists and analysts from Accenture’s Austin office joined efforts with the staff of the Greater Austin Asian Chamber of Commerce to begin exploring current data pertaining to the AAPI population in Central Texas.
Since then, the project has gained the interest of other Austin-area stakeholders, creating the beginnings of an “Ecosystem of Knowledge” which will facilitate future research efforts with deeper focus and broader-reaching scope.
Phase 1 will conclude in Summer, 2023 with the publication of revised findings presented on May 18, 2023, along with the release of interactive dashboards to facilitate public engagement with the data.
Phase 2 will see in-depth analysis of the Central Texas AAPI population in terms of business and economic impact.
In Phase 3, the project will leverage a large-scale community survey to better determine and express the opportunities, challenges, and needs of the Greater Austin AAPI business community.
In Phase 4, targeted for launch in early 2024, the project collaborative will continue research and update findings with the goal of expanding the project scope to address areas in Texas beyond the Austin region.
Demographic studies will also include deeper analyses of those areas of Central Texas, such as Austin’s District 4, where new Asian immigrants and refugees have recently arrived and are living. This focus will help to ensure that a more complete, nuanced, and accurate picture of the needs of Asian communities can be established in contrast to our understandings of the region’s more established and affluent AAPI populations. These needs include areas such as education support, ESL classes, healthcare, transportation, electronic connectivity (cell phone and broadband access), and legal services. This is particularly important since, during the 2020 census, some areas of the city were incompletely canvassed due to the onset of COVID-19.
PHASE 1 Preliminary Findings
With Phase 1 of the Texas Asian Economic Impact Project nearing completion in May, 2023, we have released a number of initial findings. These metrics were presented to a VIP group of local civic and business leaders at the project’s initial launch on May 18, 2023.
Download a PDF of this presentation HERE.
An Ecosystem Of Knowledge
It takes a village to achieve the work of the Texas Asian Economic Impact Project. With the Greater Austin Asian Chamber of Commerce serving in its established role as a “superconnector,” an Ecosystem of Knowledge is forming around the project. None of this work would be possible without the assistance and expertise of the individuals, organizations, and companies who join this important effort.
The GAACC is pleased to welcome Accenture as our inaugural Knowledge Partner. Austin City Demographer Dr. Lila Valencia has also joined the collaborative in a pivotal advisory role. We are onboarding teams from Angelou Economics and Deloitte to assist in future phases of the work, including the upcoming Austin AAPI Business Community Survey. Our deepest gratitude goes out to these talented and generous partners.
THE ACCENTURE TEAM
Data and AI Strategy Manager
Data Science Manager
Data Science Manager
Data & AI Value Strategy Manager
Application Development Analyst
Data & Analytics Senior Analyst
Management Consulting Senior Analyst