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Houston is now growing its economy and many people from other cities and states are moving to Houston to find a job or as part of their current job. Many companies have been moving their corporate headquarters to Houston, and 22 companies listed on the Fortune 500 call Houston home. All of these people moving to Houston has caused even more growth in different sectors. Houston has been declared one of the healthiest housing markets in 2013, increasing jobs in construction and contracting. Additionally, Houston was not hit as hard by the housing bubble in the mid-2000s, so prices have remained steady and consumers are snatching up the available properties quickly, leaving opportunity for new builders and growth.
Many of the people who are relocating to Houston are looking for jobs in the energy and wholesale trade sectors, led greatly by the thriving oil and gas industry and the Houston Ship Channel, a major port in and out of the country and America’s main connection to Central and South America. The Greater Houston Partnership expects that the wholesale trade industry, greatly spurred on by emerging markets in Asia, will help the Ship Channel add more than 5,000 jobs over the next year. Additionally, research shows that more than 20 percent of Houston companies plan on hiring in the next year, something that will help keep the rate of unemployment steadily declining.
Adding to the strength of Houston’s job market is the strength of Houston suburbs. Many are expanding and companies are looking to move their workers closer to where they live, rather than encouraging long commutes. Texas Instruments is moving its main Houston office to Sugar Land and, in possibly the biggest planned move thus far, Exxon Mobil is transferring its main headquarters out of the Houston downtown high rise building and to a new complex in The Woodlands, which is expected to transfer more than 10,000 workers to the new location.
As more and more workers transfer to Houston in search of better opportunities, we can expect that current growth trends will continue. The Perryman Group, a research firm, has projected that Houston will add another 1.6 million jobs within the coming decades, leading the region in growth until 2040.
Gillian Kruse is a freelance writer living in Houston. She graduated from Rice University with a great love for all performing and visual arts. She enjoys writing about arts and cultural events, especially little-known ones, to help Houstonians learn about what’s going on in their city. Her work can be found at Examiner.com.