An Overview of the Economy of Houston, TX

Houston is the leading center when it comes to oil and energy. Although its economy has mainly thrived on its energy base, it has since developed diverse industries that has further helped its economy progress. Here are some of the top industries that help strengthen the city’s economic status:

  • nasa-johnson-space-center
    Aerial View of Johnson Space Center (Wikipedia)

    Oil & Energy – There are over 5,000 energy companies operating in the city.

  • Real Estate & Corporate – It is home to around 23 Fortune 500 companies.
  • Finance – There are around 40 trade offices in Houston being maintained by foreign governments.
  • Information Technology – It has over a thousand companies that are computer-related.
  • Healthcare & Medical Research – It has some of the most consistently ranking healthcare institutions in the country.
  • Manufacturing & Distribution – For 4 consecutive years, Houston ranked as a Gold Medal World-Class Community for the manufacturing industry.
  • Aerospace – It is the home of NASA’s Johnson Space Center, NASA’s largest research and development facility.
  • Tourism – It is home to some of the most noteworthy attractions in the country, such as the Space Center Houston, Houston Astrodome, Moody Gardens, and more.
  • Retail – Houston has one of the lowest average grocery price index in the country.
  • Media – It has the 10th largest TV network market in the United States.

Employment

As of 2013, the city of Houston was recognized as the number one in employment according to the US Bureau of Statistics. The city is the leader in job creation because of successfully regaining lost jobs after the economic downturn. More than that, it even regained two jobs for every single one lost. This success was mainly attributed to the fact that those in the industry of energy and real estate were able to study the events and learn from mistakes made in the past. Also, it is a blessing that over a hundred foreign companies decided to expand their operations and start new businesses in Houston, thus creating more jobs.

Related Pages:

Houston History
Houston Demographics
Houston Geography & Climate
Houston Culture
Houston Sports
Things to See and Do in Houston