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Economy of Houston Texas


Economy[edit]

Top publicly traded companies
in Houston for 2013
with Texas and U.S. ranksTexas
Corporation
US2
Phillips 66
45
ConocoPhillips
457
Enterprise Products Partners
648
Sysco
659
Plains All American Pipeline
7711
Halliburton
10614
Baker Hughes
13518
National Oilwell Varco
14421
Apache Corporation
16722
Marathon Oil
17423
Waste Management
20029
EOG Resources
23330
Kinder Morgan
26534
Cameron International
31035
KBR
33437
Group 1 Automotive
34338
CenterPoint Energy
34439
Enbridge Energy Partners
3842
Quanta Services
41344
FMC Technologies
41746
Targa Resources
43548
MRC Global
45149
Calpine
45951
Spectra Energy
451NotesRankings for fiscal year ended January 31, 2013Energy and oil (21 companies)Source: Fortune[98]

Main article: Economy of Houston

Further information: List of companies in Houston

Houston is recognized worldwide for its energy industry—particularly for oil and natural gas—as well as for biomedical research and aeronautics. Renewable energy sources—wind and solar—are also growing economic bases in the city.[99][100] The Houston Ship Channel is also a large part of Houston's economic base. Because of these strengths, Houston is designated as a global city by the Globalization and World Cities Study Group and Network and global management consulting firm A.T. Kearney.[12] The Houston area is the top U.S. market for exports, surpassing New York City in 2013, according to data released by the U.S. Department of Commerce's International Trade Administration. In 2012, the Houston–The Woodlands–Sugar Land area recorded $110.3 billion in merchandise exports.[101] Petroleum products, chemicals, and oil and gas extraction equipment accounted for roughly two-thirds of the metropolitan area's exports last year. The top three destinations for exports were Mexico, Canada, and Brazil.[102]

The Houston area is a leading center for building oilfield equipment.[103] Much of its success as a petrochemical complex is due to its busy ship channel, the Port of Houston.[104] In the United States, the port ranks first in international commerce and 10th among the largest ports in the world.[13][105] Unlike most places, high oil and gasoline prices are beneficial for Houston's economy, as many of its residents are employed in the energy industry.[106] Houston is the beginning or end point of numerous oil, gas, and products pipelines:[107]

The Houston–The Woodlands–Sugar Land MSA's gross domestic product (GDP) in 2012 was $489 billion, making it the fourth-largest of any metropolitan area in the United States and larger than Austria's, Venezuela's, or South Africa's GDP.[108] Only 26 countries other than the United States have a gross domestic product exceeding Houston's regional gross area product (GAP).[109] In 2010, mining (which consists almost entirely of exploration and production of oil and gas in Houston) accounted for 26.3% of Houston's GAP up sharply in response to high energy prices and a decreased worldwide surplus of oil production capacity, followed by engineering services, health services, and manufacturing.[110]

A graph showing the major sectors of the Houston economy[111]

The University of Houston System's annual impact on the Houston area's economy equates to that of a major corporation: $1.1 billion in new funds attracted annually to the Houston area, $3.13 billion in total economic benefit, and 24,000 local jobs generated.[112][113] This is in addition to the 12,500 new graduates the U.H. System produces every year who enter the workforce in Houston and throughout the state of Texas. These degree-holders tend to stay in Houston. After five years, 80.5% of graduates are still living and working in the region.[113]

In 2006, the Houston metropolitan area ranked first in Texas and third in the U.S. within the category of "Best Places for Business and Careers" by Forbes magazine.[114] Foreign governments have established 92 consular offices in Houston's metropolitan area, the third-highest in the nation.[115] Forty foreign governments maintain trade and commercial offices here with 23 active foreign chambers of commerce and trade associations.[116] Twenty-five foreign banks representing 13 nations operate in Houston, providing financial assistance to the international community.[117]

In 2008, Houston received top ranking on Kiplinger's Personal Finance Best Cities of 2008 list, which ranks cities on their local economy, employment opportunities, reasonable living costs, and quality of life.[118] The city ranked fourth for highest increase in the local technological innovation over the preceding 15 years, according to Forbes magazine.[119] In the same year, the city ranked second on the annual Fortune 500 list of company headquarters,[120] first for Forbes magazine's Best Cities for College Graduates,[121] and first on their list of Best Cities to Buy a Home.[122] In 2010, the city was rated the best city for shopping, according to Forbes.[123]

In 2012, the city was ranked number one for paycheck worth by Forbes and in late May 2013, Houston was identified as America's top city for employment creation.[124][125]

In 2013, Houston was identified as the number one U.S. city for job creation by the U.S. Bureau of Statistics after it was not only the first major city to regain all the jobs lost in the preceding economic downturn, but also after the crash, more than two jobs were added for every one lost. Economist and vice president of research at the Greater Houston Partnership Patrick Jankowski attributed Houston's success to the ability of the region's real estate and energy industries to learn from historical mistakes. Furthermore, Jankowski stated that "more than 100 foreign-owned companies relocated, expanded or started new businesses in Houston" between 2008 and 2010, and this openness to external business boosted job creation during a period when domestic demand was problematically low.[125] Also in 2013, Houston again appeared on Forbes' list of Best Places for Business and Careers.[126]

 

 

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List of School Districts in Houston Texas


List of school districts in Houston

From Wikipedia, the free encyclopedia
 
 
Hattie Mae White Educational Support Center is the headquarters of the Houston Independent School District.
The following is a complete list of school districts serving the city limits of Houston, Texas.