HOUSTON (May 2, 2024)— All metrics indicate Houston’s global economy is positioned for continued success, according to the Greater Houston Partnership’s 2024 Global Houston report. The report, which provides an analysis of the global economy and its tie to the Houston region, illustrates how Houston’s international activity in 2023 continued to set records: The Houston-Galveston Customs District continues to rank first in the country in tonnage handled (exports and imports) with over 404.7 million metric tons of goods and commodities, an increase of 6.4 percent from 2022. The Houston-Galveston Customs District ranked first in total value with $344.5 billion for the second consecutive year. Houston led the U.S. in exports, shipping more than $175.5 billion in goods and commodities. Foreign direct investment (FDI) remains strong, with an 18% increase as 52 foreign-owned companies with plans to relocate, expand or start operations, surpassing the 44 projects announced in 2022. The Houston Airport System handled 12.6 million international passengers, finally surpassing pre-COVID levels and setting a record. For the second consecutive year, international migration accounted for the largest share (37.6%) of the region’s population growth. The region attracted 52,500 migrants in 2023, an increase of more than 10% compared to 2022. According to the report, trade disputes, supply chain disruptions and geopolitical tensions remain as global challenges in 2024. Fortunately, foreign governments recognize Houston’s pivotal role in global trade and foreign investment. "While economists expect a slightly weaker year ahead, Houston's robust ties to global markets and the ongoing growth of our major trading partners will continue to support our economy," said Partnership Chief Economist and Senior Vice President of Research Patrick Jankowski. "We remain confident in the strength and resilience of Houston's global economy." The Global Houston report also provides additional statistics and information about Houston’s international business ties and ranks the region’s top 20 trade partners. Top 10 Houston trade partners and the value of trade in 2023: China -- $31.8 billion, down from $32.1 billion in 2022. Mexico -- $28.7 billion, down from $32.0 billion in 2022. Netherlands -- $26.5 billion, up from $19 billion in 2022. South Korea -- $22.9 billion, down from $24.7 billion in 2022. Brazil -- $15.6 billion, down from $20.3 billion in 2022. Germany -- $15.1 billion, up from $15.0 billion in 2022. Japan -- $13.1 billion, down from $14.2 billion in 2022. United Kingdom -- $13.1 billion, down from $15.9 billion in 2022. India -- $13.0 billion, down from $15.5 billion in 2022. Singapore -- $11.4 billion, down from $14.0 billion in 2022.

Houston’s tech scene has made many strides in recent years to set a foundation for startups to thrive, from founding to late stage, across industries. With a wealth of incubators coming online and a sharp uptick in venture capital funding, startups now have more landing spots and opportunity for growth in Houston than ever before.   We spoke to three tech startups about their experiences in Houston, including two that launched last year and one that recently relocated to Houston.   Envana Software Solutions Envana, a software-as-a-service company built to organize, model and forecast oil and gas industry emissions, has experienced tremendous growth since its launch in January 2023. The startup is a joint venture by Halliburton and Siguler Guff.  Envana's growth is marked by clients including the world’s second-largest oilfield services provider, national oil companies in APAC and Europe, and leading U.S. service providers. As the company prepares for future goals, Envana says it is looking not only to respond to demands within oil and gas, but to other energy sectors to help corporations manage their emissions.  “There’s no better place in the world for an oil and gas SaaS company to be based than Houston, Texas.  Houston is the ideal birth city for an energy startup.  For Envana –a Halliburton JV with private equity firm Siguler Guff– the city’s features, including access to investment capital, industry experts, and thought leadership in the evolving energy space, make it a prime geography. The number of energy companies based in Houston looking for innovative industry solutions is unparalleled elsewhere in the world.”  - Sally Lechin, Global Marketing, Envana  Allthenticate  Allthenticate describes itself as a cybersecurity startup on a mission to create seamless and efficient security solutions for companies via a smartphone application. The company is primarily focused on security at tech companies, though they intend to expand more of their presence to medtech and energy.   Allthenticate’s story began in 2012 as co-founder Dr. Chad Spensky pursued his PhD, eventually earning a job as a security researcher at MIT working to find gaps in security. Spensky and co-founder Rita Mounir teamed up at a startup competition at UC-Santa Barbara, taking first place and getting traction with early investors. The company was headquartered in Santa Barbara until 2022, when Spensky and his wife relocated to Houston. Allthenticate officially relocated to downtown later that year following a short stint in The Ion and learning of the many advantages the region offers as a hub for headquarters.  Allthenticate is going through another fundraising round following a $3.9 million round in 2022. The team says it remains focused on perfecting the hardware, software and application amid a rapidly changing list of security challenges, including deepfakes.  “As we’re pushing so many world’s firsts in our industry, I think our goal is to become the premier identity and access management company in the world. A lot of giants are trying to catch up, but I think we have an advantage here in what we’re doing and what we’ve built so far. In five years, I believe we will be THE identity management solution.” – Rita Mounir, Co-founder, Allthenticate  Think Diffusion  In 2023, three-time startup founder Phu Ngo produced Think Diffusion, an advanced AI video production platform. Think Diffusion has already established itself with noteworthy names, producing animated content for Toyota, McDonald’s and even a music video for Toni Braxton. Think Diffusion leverages cutting-edge open-source AI technologies to offer a comprehensive and integrated platform for AI art and video generation. Its commitment to open-source has led three universities - Swiss Federal Institute of Technology Lausanne, PVCC-Melbourne, and the National University of Singapore - to adopt Think Diffusion for their innovation labs.  Think Diffusion was started by Ngo, a Vietnamese-born Houstonian whose family found opportunity in the Lone Star State as he was growing up. Following an education at UT-Austin and UC-Santa Barbara, Ngo established himself as a software developer, eventually launching three startups. Think Diffusion spun out of Kinetic Chain Labs following a special request for animated video content, which resulted in an ultra-sophisticated art generator. For Ngo, Houston serves as an ideal place to start a business and call home.  “Houston is home for me, it has great tax advantages and there’s a lot to like. I’m excited by the growing tech hub forming here – I think the startup community at the Ion is a great example of that. On top of that, the food is amazing, the weather is great, and you get a great ROI on your money – it’s amazing here in terms of quality of life.” – Phu Ngo, CEO, Think Diffusion  Currently, Think Diffusion states that it is working on launching new experimental open-source products, expanding into AI-generated text and music, and increasing its focus on the education industry. Looking ahead, the team is ready to embrace the challenges and advantages that the future of AI could bring.  Learn more about Houston’s tech and innovation ecosystem.