How they compare: Austin, Phoenix two of the fastest-growing cities in the U.S.

Untitled-2 copyBy Mark Remillard | KTAR

AUSTIN — When many people think of Austin, Texas, they might think of any one of the city’s various Super Bowl-sized festivals such as Austin City Limits or South by Southwest.

However, the city is also becoming well known for being one of the country’s fastest-growing economic engines because for the fourth year in a row. Earlier this year, Forbes Magazine named the Texas capital the fastest-growing city of 2014.

According to Forbes, the city’s low unemployment rate (4.89 percent), high median pay of $64,000, and population growth rate of 2.5 percent last year are once again reasons to make it the top city in the U.S.

Austin has not always been the model of economic growth that it is now, and it took a conscious effort to make the city what it is today.

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Related: Austin, Texas Passes a New Law Making Solar a ‘Default’ Generation Resource 

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