Austin TX Jobs Created by Acquisition

One company's decision to acquire a competitor will result in more Austin TX jobs.

PrintGlobe, Inc., an online printing service and retailer, recently announced that the company has purchased the assets of Absorbent, Ink., a top competitor. The acquisition is expected to create between 10 and 20 jobs by 2012.

"PrintGlobe notched its eighth year in a row of double digit growth," Dan Steinborn, president and CEO of PrintGlobe, told the Austin Business Journal. "In a year when we had one of the worst quarters in our country's history and given the trend of brick and mortar printing businesses failing at a rapid pace, we feel more excited than ever that we are positioned to continue our growth and leadership in the business printing market."

Steinborn founded PrintGlobe in 1991. The company was ranked as one of the fastest-growing in the area on the Austin Business Journal's Fast 50 list during 2006. Absorbent, which was founded in 2000, specializes in branded specialty corporate gifts.

PrintGlobe currently serves more than 30,000 customers, including Apple Computer, Inc., The Gap, Kmart, Microsoft Corporation, Hewlett-Packard Co., Kraft and Co., NASA and Disney Co.

The addition of new jobs seems to be a trend as of late throughout the Austin area's economy, as the city has continued to add jobs on a monthly basis while it's unemployment rate declines.

During November 2009, the Austin-Round Rock area's unemployment rate decreased from 7.2 percent to 6.9 percent, following three straight months of no change. That decrease keeps the area's unemployment rate lower than the national rate of 10 percent.

The Austin area had a total non-farm employment of 780,900 workers during November, according to the U.S. Department of Labor Bureau of Labor Statistics. This is up from 778,500 workers during October and only a .5 percent decrease from November 2008.