And those coming from major cities will find the relatively low cost of living a pleasant surprise. There is no state income tax, and other costs are low. That might be why the greater Austin population jumped from just over 259,000 in 1990 to more than 1.1 million in 1998. Austin has been pushing for companies to relocate their headquarters to the area, with Exxon Mobil Corp. being the latest catch. As a result, unemployment is around 2 percent.
Locals are apt to say that people are paid one-third in sunshine.
It's often meant literally. IT salaries in the region are sometimes only two-thirds of what similar positions pay elsewhere. It's always a shock when people first are grappling with what the area pay rates are. In short, companies are used to paying less and want to continue the tradition. Retirees who want to stay active but don't view a salary as their only income are one reason.