The annual New West Records party, a South by Southwest (SXSW) tradition, long ago established itself as a key Thursday afternoon destination for music industry insiders. Yesterday, the bash at the Belmont on Sixth Street shone a light on some of Houston’s brightest rising musical stars.

George Fontaine, the Houston-based president of New West Records, is a firm believer in the local music scene, recently signing deals with both Buxton and Robert Ellis. At the Belmont yesterday, Fontaine (who’s also part of the group behind the rebirth of Cactus Music), told CultureMap, “There’s something going on in Houston. I’m really excited about the scene there now and having the chance to give these young bands a shot.”

Indie-folk rockers Buxton have been garnering rave reviews, with labels like “one of Houston’s finest bands” to “the best thing to come from La Porte since the Battle of San Jacinto.” Buxton’s rambunctious opening set at the New West fete got the afternoon off to a rousing start, and afterwards lead singer Sergio Trevino reflected on the critical acclaim and the band’s recent signing.

“It’s all happened so fast,” he said. “Now it’s time to live up to people’s expectations. There’s so much going on…it’s like a big wave. We’re just happy to be a part of it.”

Robert Ellis followed next, with a full-band gig that showcased his hard-driving country style, featuring songs such as “Comin’ Home” and “What’s In It for Me.” Ellis has already attracted quite a local following with his danceable, honky-tonk gigs around town. His album, titled Photographs, is due out on this summer.

New West’s line-up continued with Ponderosa, a group that hails from Atlanta with a taste for enjoyable Southern classic rock.

The afternoon ended with a rocking rave-up set from Dallas alt-country darlings, the Old 97’s. Spotlighting old favorites and new songs, including tunes from last fall’s New West release, The Grand Theatre, Volume I, the band offered up an especially rollicking version of “Champaign, Illinois,” for which frontman Rhett Miller wrote new lyrics to the melody of Bob Dylan’s “Desolation Row.”

Of course, permission was needed to use the song, so the band’s manager reached out to Bob Dylan’s manager. According to Miller, word got back that Dylan liked the song, but he wanted to read the lyrics.

“So we sent him the lyrics,” Miller said, “and we got an email back saying, ‘Dylan likes the lyrics.’”

Heady praise for a young songwriter —the kind of email you store in your “Save Forever” folder. But the Old 97’s aren’t resting on their laurels. Miller tells CultureMap the band’s follow-up album, The Grand Theatre, Volume Two, will be out this summer.

More From SXSW: Dave Alvin and The Guilty Ones

Dave Alvin, the Grammy-award-winning master songwriter and roots-rock legend the Los Angeles Times magazine called “The King of California,” returned to SXSW Thursday night at the Dirty Dog on Sixth Street with the debut of brand-new songs and a brand-new band.

For many years, Alvin toured with his longtime compadres The Guilty Men, but following the death of his best friend and bandmate Chris Gaffney, he’s been performing lately with an all-female backing band in support of his album Dave Alvin and the Guilty Women. Alvin’s official showcase Thursday marked the first performance by a new co-ed line-up, “The Guilty Ones,” with some of Austin’s finest: guitar-slinger Chris Miller, Lisa Pankratz on drums and Brad Miller on bass; and Seattle’s Christy McWilson joining Alvin on vocals.

Alvin blazed into the set with his “Harlan County Line,” recently written and recorded for the critically acclaimed FX series Justified. When the Justified producers (longtime Dave Alvin fans) heard the song, they loved it immediately – and wrote Alvin and his band into the script. Alvin appeared in the opening sequence of the February 23 episode of the show.

Alvin introduced another new song with the words “This is about something that happened in Houston, Texas,” and then launched into a tribute to Johnny Ace, the R&B star who tragically (and accidentally) shot himself to death at Houston’s City Auditorium on Christmas 1954.

After finishing with an exciting, electric version of “Marie Marie,” Alvin promised CultureMap he would return to Austin (and Houston) soon on tour in support of his new studio album due out this summer.