As the main economic hub of what Forbes Magazine is calling the “third coast” of America, Houston is projected to become one of the next global economic powerhouses within the coming decade. By 2023, it is expected that the Gulf Coast area, including Houston as its hub, will grow by nearly 20 percent in number of jobs available. This is an even bigger increase than the seven percent increase in job base that the Houston area has enjoyed since 2001.
The medical, energy, and exporting industries will all have an immense impact on this growth into one of the world’s largest and most economically vital cities. Houston’s Texas Medical Center is the most expansive in the country and is continuing to grow as the hospitals and research centers attract top talent from across the nation and the globe.
The energy industry will continue to grow, expand and change to suit the American people’s ever-evolving energy needs. As new technologies and services are created, Houston will be there to fulfill the need. The Houston Ship Channel has passed up New York City as the nation’s leading exporter – largely helped by its proximity to Central and South America, and these relationships with exporting and importing companies will help to drive all areas of the Houston economy.
According to Forbes‘ projections, in the year 2023, Houston’s main industries will be focused on healthcare, energy, and business services and trade, with an estimated GDP in the region of nearly $1.2 trillion – more than that of many countries. With Houston’s good placement for growth and the determination and talent of Houstonians, the city is truly poised to become the next global American city.
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.