Aerial view of the downtown Austin, Texas skyline on April 11, 2023. (Photo by Brandon Bell/Getty Images)
AUSTIN (KXAN) — There are more than 685 storefront businesses in downtown Austin, according to the Downtown Austin Alliance.
Businesses include everything from restaurants to bars to retail.
New business openings are on the rise in 2023, according to the DAA's Downtown State, which reports there were 55 new business openings.
“Approximately 54 percent of all downtown retail is beverage and entertainment businesses, restaurants, and food trucks.”
Downtown Austin Alliance Downtown State
Dozens of businesses closed
However, along with these openings, there were also some closures. The report said 68 businesses downtown have permanently closed.
“More than a quarter of downtown businesses surveyed reported an increase in revenue since 2020, while more than half reported a decrease in revenue,” the report states.
According to the DAA report, eight retail development projects are under construction and 23 new projects are proposed.
KXAN's Sarah Al Shaikh will have more on this story.You can watch it tonight on KXAN News at 6 p.m.
