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Houston, Texas
Houston is the largest city in the state of Texas and the fourth-largest in the United States. The city covers more than 600 square miles (1,600 km²) and is the county seat of Harris County—the third-most populous in the country. As of the 2004 U.S. Census estimate, Houston had a population of more than 2 million. The city is at the heart of the Houston–Sugar Land–Baytown metropolitan area, the largest cultural and economic center of the Gulf Coast region and the seventh-largest metropolitan area in the U.S. with a population of 5.3 million in 10 counties.
Houston is ranked as one of 11 U.S. world-class cities by the Globalization and World Cities Study Group & Network. The city has a vibrant visual and performing arts scene as Houston is one of the five U.S. cities that offer world-class, year-round resident companies in all major performing arts. In addition, the Houston Theater District is ranked second in the country for the number of theatre seats in a concentrated downtown area per capita. The city is also close to beaches on Galveston Island as well as one of the United States' largest concentrations of pleasure boats and local tourist attractions.
The local economy
Houston's energy industry is a world powerhouse (particularly oil), but biomedical research, aeronautics, and the ship channel are also large parts of the city's industrial base. The Houston metropolitan area comprises the largest petrochemical manufacturing area in the world, including for synthetic rubber, insecticides, and fertilizers. The area is also the world's leading center for building oilfield equipment. Much of Houston's success as a petrochemical complex is due to its busy man-made ship channel, the Port of Houston. The port ranks first in the country in international commerce and is the sixth-largest port in the world. Amid other U.S. ports, it is the busiest in foreign tonnage and second in overall tonnage. Because of these economic trades, many residents have moved to Houston from other U.S. states, as well as hundreds of countries worldwide. Unlike most places, where high gas prices are seen as harmful to the economy, they are generally seen as beneficial for Houston as many are employed in the energy industry.
Houston is second to New York City in Fortune 500 headquarters. The city has attempted to build a banking industry, but the companies originally started in Houston have since merged with other companies nationwide. Banking, however, is still vital to the region.
The Houston–Sugar Land–Baytown MSA's Gross Area Product (GAP) in 2005 was $308.7 billion, up 5.4 percent from 2004 in constant dollars—slightly larger than Austria's Gross Domestic Product (GDP). Only 28 nations other than the United States have a GDP exceeding Houston's GAP. Mining, which consists of oil and gas exploration and production, accounts for 11 percent of Houston's GAP—down from 21 percent as recently as 1985. The reduced role of oil and gas in Houston's GAP reflects the rapid growth of other sectors—such as engineering services, health services, and manufacturing.
Forty foreign governments maintain trade and commercial offices here and the city has 23 active foreign chambers of commerce and trade associations. Twenty foreign banks representing 10 nations operate in Houston and provide financial assistance to the international community.
Among the 10 most populous metro areas, Houston ranked second in employment growth rate and fourth in nominal employment growth. 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.
Recent Houston business news
Links to recent headlines via Topix.net
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See also
External links
- City website
- Downtown Houston district
- Uptown Houston district
- Midtown Houston district
- Houston business Chamber of Commerce
- Houston Texas local event calendar and business news
- Quickbird Satellite Image of Houston Texas above Reliant Stadium
