Skip to main content

Report Gives Houston High Marks for Economic Growth, Startup Potential

Published Aug 12, 2019 by A.J. Mistretta

A new ranking from Business Facilities magazine places Houston at No. 4 for economic growth potential among large metro areas and ranks the city No. 4 as well when it comes to the nation’s best startup ecosystems.

Houston’s broad industry diversity is a positive for the city’s economic growth potential. The Greater Houston Partnership forecasts the region will see a net increase of 71,000 jobs this year. The most recent employment report for the region showed a 2.7% increase in jobs between June 2018 and June 2019 led by growth in professional, scientific and technical services; durable goods manufacturing; and restaurants and bars. 

The Partnership’s Senior Vice President of Economic Development Susan Davenport told InnovationMap that the city’s status as the one of the top locations for Fortune 1000 headquarters in the U.S. elevates Houston’s position as a hub where both large and small companies can prosper.

"The region's steady population increases, coupled with our relatively low costs of living and doing business, bode well for our economic growth potential reflected in this ranking," Davenport told the publication.

Houston’s No. 4 ranking among startup-friendly cities is due in large part to the concerted effort of local organizations, led by Houston Exponential, to help foster the local startup ecosystem. Launched in late 2017, Houston Exponential’s goals include making Houston a top 10 innovation ecosystem, generating $2 billion in venture capital annually, and creating 10,000 new tech jobs a year by 2022.

"Factor in the demand being satisfied by a number of new incubators and accelerators, plus the four-mile Innovation Corridor running through the heart of the city and anchored by The Ion, and we're seeing momentum on a scale like never before," Davenport told InnovationMap. 

Here is Business Facilities' 2019 list of the top 10 places for economic growth potential among large U.S. metros:

  1. Atlanta
  2. San Antonio
  3. Phoenix
  4. Houston
  5. Orlando, Florida
  6. Austin
  7. Raleigh-Durham, North Carolina
  8. Las Vegas
  9. Albuquerque, New Mexico
  10. Kansas City, Missouri

Here is Business Facilities' 2019 list of the 10 places with the best startup ecosystems in the country:

  1. Austin
  2. Denver
  3. New York City
  4. Houston
  5. San Jose, California
  6. Orlando, Florida
  7. Nashville, Tennessee
  8. Atlanta
  9. Raleigh-Durham, North Carolina
  10. Salt Lake City

Click here for more Houston rankings. 

Related News

Economic Development

Houston Day: Bridging Houston and Texas Lawmakers

12/20/24
What does it take to showcase Houston’s extraordinary contributions to Texas? For the Greater Houston Partnership, the answer was Houston Day. The transformative event gave state legislators a firsthand look at the industries and innovations driving one of the most dynamic regions in the country. Over two days in early 2024, 57 Texas lawmakers and other attendees explored Houston’s core sectors, experiencing the city’s impact on the state’s economy and culture. The event wasn’t just a tour but a strategic opportunity to connect lawmakers with the people and industries shaping Texas’ future. A Journey Through Houston’s Vital Sectors The experience began at Port Houston, a hub of economic activity essential to Texas’ position as a global trade leader. Legislators saw the port’s operations up close and learned about the evolution of the Houston Ship Channel, the energy transition, and the Coastal Texas Program’s flood mitigation efforts. From there, the focus shifted to Houston’s renowned space industry. Visits to the Johnson Space Center-NASA and Space Center Houston highlighted Houston’s legacy of innovation and the recent investments fueling the Texas Space Commission. The day concluded with a private dinner at Minute Maid Park, where Mayor John Whitmire underscored the importance of collaboration between local and state leaders. Showcasing Innovation and Heritage The final day of Houston Day spotlighted Houston’s cutting-edge advancements and cultural heritage. At Air Liquide’s La Porte Hydrogen facility, legislators explored groundbreaking technologies driving the energy transition. Later, a visit to the Texas Medical Center’s Helix Park showcased Houston’s leadership in medical research and health care innovation. The event culminated at the Houston Livestock Show and Rodeo, celebrating the rich cultural fabric of Texas. Why Houston Day Matters “I was honored to showcase Houston’s vibrant contributions to the economy, space innovation, and leadership in the medical and energy sectors to my colleagues at the Legislature. It’s no longer just words on a page or something discussed in a committee meeting—they’ve experienced it all.” -State Senator Carol Alvarado. For the Greater Houston Partnership, Houston Day was a resounding success. By connecting lawmakers directly with Houston’s industries, the event reinforced the city’s significance to Texas and laid the groundwork for future collaboration. By the Numbers: 57 legislators and four state agencies in attendance 162 total attendees 180+ miles traveled, covering over $1 trillion in economic impact 20+ industrial and commercial sectors highlighted Eight stops representing approximately $252.5 billion in state investments Houston Day exemplifies how the Greater Houston Partnership brings leaders together to build understanding, foster collaboration, and drive progress for the region and beyond. Learn more about the Partnership's public policy efforts. Download the Partnership's 2024 Impact Report.
Read More
Quality of Life

$310 Million Buffalo Bayou East Expansion Project Begins to Take Shape

12/19/24
Houston’s Buffalo Bayou Park is undergoing a transformative expansion. In 2019, the Buffalo Bayou Partnership (BPP) unveiled the Buffalo Bayou East 10-Year Master Plan, a project to extend the park into the East End and Fifth Ward neighborhoods. Supported by a $310 million investment, including $100 million from the Kinder Foundation, the plan aims to create a vibrant community hub and cultural destination through major infrastructure improvements and the addition of new parks, green spaces and amenities.  Bringing the Vision to Life  Click to expand Five years later, the vision for Buffalo Bayou East is becoming a reality. The new Japhet Creek Park opened to the public in September, featuring a new entry plaza, scenic trails and native plantings. Future development will add a pedestrian bridge connecting the park to Tony Marron Park on the south side and a new trail along the creek, enhancing public access to the waterfront.  Click to expand Another milestone is the completion of Lockwood on Buffalo Bayou, the area’s first affordable housing development, introduced this summer. This low-rise, multi-family building includes 80 apartments and sits along the south bank of Buffalo Bayou. Plans are underway to link Lockwood to Tony Marron Park via an improved hike-and-bike trail and Marron Park Way, a new road extending from Lockwood Drive to N. York Street. The building will also be adjacent to the future Lockwood Park.  Meanwhile, progress is underway on another key component of the master plan: Turkey Bend. According to a recent progress report from BBP, construction has begun on the former barge terminal along Navigation Boulevard. The site, featuring multiple warehouses and a historic wharf, is being transformed into a recreational destination for community events and gatherings.  Click to expand Plans for the redevelopment include converting a warehouse on Navigation Boulevard into a community retail space, which will also house the Houston Public Library’s Hispanic History Research Center. The historic wharf will be redesigned as a waterfront park with open gathering spaces and direct access to activities such as canoeing, kayaking and boat tours. A large outdoor plaza, called the Breezeway, will connect to the waterfront through a revitalized tunnel showcasing existing street art.  Future Development  Click to expand A cornerstone of the project is the revitalization and expansion of Tony Marron Park. The plan will nearly double the park’s size, growing it from 19 acres to 40. As a central connector for Buffalo Bayou East, the park will feature expansive lawns, civic spaces with soccer fields and public art, a play area tailored for various age groups, an interactive water playscape and a barbecue pavilion with a picnic grove.   Additional enhancements include an event shed and a maintenance facility to support BBP’s waterway cleanup operations and park management for Buffalo Bayou East. The park is slated to close in January 2025 for construction.  Discover more about Buffalo Bayou East. 
Read More

Related Events

Executive Partners