Skip to main content

Bayou Business Download: Jobs, Oil and Real Estate - The Latest

Published Mar 11, 2021 by A.J. Mistretta


KEI Meta - Energy

In this episode of Bayou Business Download we deliver an update on where things stand with the region’s ongoing recovery. As the vaccine rollout ramps up and businesses are allowed to reopen fully across Texas, what are the opportunities and the challenges for the Houston area as we work to regain our economic footing? Partnership Senior Vice President of Research Patrick Jankowski joins us for the conversation. 

In this episode we cover: 

  • The Houston jobs landscape one full year into the pandemic. 
  • The impact of consistently higher oil prices on the broader local economy. 
  • What sectors of Houston real estate are faring better and which are likely to be a drag on the sector. 
  • Other positive signs for the ongoing recovery. 

 

This is a podcast from the Greater Houston Partnership where we dive into the data and analytics influencing the region’s economy.

 

Related News

Energy

BP Donates $200K to Houston Community College for EV Safety Training

5/16/24
Demonstrating its continued commitment to advancing the energy transition and bolstering the region’s workforce, BP donated $200,000 to Houston Community College (HCC) to fund an electrical vehicle safety and mechanic training course for City of Houston and Harris County employees. The initiative underscores the international company’s commitment to sustainability and aims to equip local technicians with the specialized skills needed for the future of transportation.  The program aims to train more than 250 fleet department employees this year by providing safety knowledge for handling EVs and advanced training on repairs and maintenance.  “We embrace Houston's role as the energy capital of the world and we continue to support the city and the county and their efforts to advance the energy transition,” Mark Crawford, Sr. Vice President of Diversity, Equity and Inclusion at bp, said during a check presentation at an HCC Board of Trustees meeting. “We are excited for the year ahead and many technicians who will depart HCC campus with a certificate in hand and new knowledge to utilize.”  Click to expand bp check presentation to HCC to fund EV safety training   In 2020, the City of Houston released its Climate Action Plan which included converting non-emergency, light-duty municipal vehicles to electric by 2030. Harris County has a similar goal to transition its fleet to electric vehicles.  HCC’s Northeast College President Michael Edwards applauded bp’s investment and commitment to strengthening communities, creating sustainable jobs and advancing the transition.   “bp America seeks to work with partners to develop initiatives for the area's most impacted by the energy transition and enable the workforce to gain the skills needed for future energy systems,” said Michael Edwards, PhD, President of HCC’s Northeast College Campus.    Earlier this year, bp launched its first U.S. EV charging station, bp Pulse, at the company’s Energy Corridor headquarters. The station, offering 24 high-speed EV charge points, is part of bp’s plan to invest $1 billion in EV charging infrastructure by 2030.  Learn more about Houston's energy industry.
Read More
Economy

Report: Houston’s Global Economy Thrives, Setting New Records

5/2/24
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.
Read More

Related Events

Economic Development

State of the Port

The Port of Houston is renowned as a strategic gateway to the world and plays a vital role in facilitating international trade and driving economic growth. As the nation’s largest port in foreign tonnage, Port…

Learn More
Learn More
Executive Partners