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Why Houston?
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Houston's 2007 job growth much higher than thought
Revision of earlier estimate finds city added 100,000 positions last year
http://www.chron.com/disp/story.mpl/front/5598254.html
The final tally is in and the Houston economy is growing much faster than anyone realized.
It turns out that the local economy ended 2007 by creating 100,100 new jobs during the year, an increase of 4 percent, according to data released Thursday by the Texas Workforce Commission.
Earlier this year, the agency estimated the Houston area added 59,800 new jobs for the full year, a 2.4 percent increase.
Houston already was one of the top job-creating cities in the United States before the numbers were revised, said Cheryl Abbot, regional economist for the U.S. Bureau of Labor Statistics in Dallas.
Of the 12 largest metropolitan areas in the country, Houston was first in job growth in the previously released data. BLS won't release the nationwide revisions until next week, so it's unclear whether Houston's rank will change.
Once each year, the Texas Workforce Commission compares its employment estimates with payroll tax reports from companies to determine the number of people actually employed in the state. The agency's monthly employment reports are only estimates.
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Texas is a top contender in biotech field
San Antonio Business Journal http://houston.bizjournals.com/sanantonio/stories/2008/02/25/daily5.html?t=printable
Texas has been named for the first time as one of the top five economic development regions in the world for biotechnology by newsletter FierceBiotech.
In addition to Texas, the 2008 rankings include New York, Massachusetts, Florida and California, as having state programs that are "driving the development of new facilities that will likely have a profound impact in determining where the industry will find its most fertile soil for future growth."
The Washington, D.C.-based newsletter chose Texas because of its $3 billion investment in cancer research, led by The University of Texas M.D. Anderson Cancer Center in Houston.
"With hundreds of millions of dollars a year being funneled into cancer programs, you can expect an immediate leap in the recruiting efforts under way for top oncology researchers," according to the newsletter. "Their work is virtually guaranteed to break the kind of ground that plenty of biotech, as well as big pharma, players are already working."
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West Ave could grow
Upper Kirby retail, residential development to open in 2009
http://www.chron.com/disp/story.mpl/business/sarnoff/5448931.html
A wave of development in the Houston area is being fueled by a shrinking amount of office space.
Top-class building vacancies were under 7 percent citywide in the fourth quarter, according to a CB Richard Ellis report.
More than 5 million square feet of space is under construction.
The dominant energy industry has been the source of much of this demand.
Rents for the best buildings have increased 23 percent to $29.54 per square foot, the report said.
Trammell Crow Co. and Crescent also have announced new buildings downtown and are expected to start construction soon.
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Houston is intentionally knows for its energy (particularly oil) and aeronautics industries, and for its ship channel. The area is also the world's leadcing center for the building oilfield equipment. The Port of Houston ranks first in the country in international commerce and is the 6th largest port in the world. Second only to NYC in Fortune 500 Headquarters, Houston is the seat of the Texas Medical Center, which contains the world's largest concentration of research and healthcare institutions.
Houston is ranked as a Gamma world-class city by the Globalization and World Cities Study Group and Network.
The new millenium
In 2001, Tropical Storm Allison dumped up to 39 inches of rain on parts of the city, causing billions of dollars in damage and killing 43 people. To date, the flooding caused by Allison was the worst in the city's history. Many neighborhoods and communities have changed since the storm; older houses in some affected neighborhoods have been torn down and replaced with larger houses with higher foundations.
In the wake of Hurricane Katrina in August 2005, Houston provided shelter to more than 150,000 people from New Orleans in various facilities around the city, including about 24,000 who were sheltered in the infrequently-used Reliant Astrodome Stadium. This unprecedented situation involved Houston-area public school systems, which provided education for child evacuees.
Approximately 2.5 million Houston area residents evacuated when Hurricane Rita approached the Gulf Coast one month after Hurricane Katrina. Hurricane Rita left little damage to Houston and its surrounding areas. Critical traffic congestion and gas shortages were rampant during the evacuation. This event marked the largest evacuation in US History.
Economy
Houston ranks second in employment growth rate and fourth in nominal employment growth among the 10 most populous metro areas. 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 Magazine.
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 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. 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.
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 in Houston is almost entirely 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.
Demographics
As of the census gr2 of 2000, there were 1,953,631 people, 717,945 households, and 457,330 families residing in the city. The population density was 3,371.7 people per square mile (1,301.8/kmē). There were 782,009 housing units at an average density of 1,349.6 per square mile (521.1/kmē). If the city of Houston were a U.S. state, it would rank 36th in population—its 2.01 million residents in 2004 would place it behind Nevada and ahead of New Mexico.
There were 717,945 households out of which 33.1 percent had children under the age of 18 living with them, 43.2 percent were married couples living together, 15.3 percent had a female householder with no husband present, and 36.3 percent were non-families. Twenty-nine percent of all households were made up of individuals and 6.2 percent had someone living alone who was 65 years of age or older. The average household size was 2.67 and the average family size was 3.39.
In the city, the population was spread out with 27.5 percent under the age of 18, 11.2 percent from 18 to 24, 33.8 percent from 25 to 44, 19.1 percent from 45 to 64, and 8.4 percent who were 65 years of age or older. The median age was 31 years. For every 100 females there were 99.7 males. For every 100 females age 18 and over, there were 97.8 males.
The median income for a household in the city was $36,616, and the median income for a family was $40,443. Males had a median income of $32,084 versus $27,371 for females. The per capita for the city was $20,101. Nineteen percent of the population and 16 percent of families were below the poverty line. Out of the total population, 26.1 percent of those under the age of 18 and 14.3 percent of those 65 and older were living below the poverty line.
Higher education
Houston has the University of Houston System, which is the largest urban state system of higher education in the Gulf Coast with over 56,000 students. The system has three independent and self-governing universities located in within the city: University of Houston, UH-Clear Lake, and UH-Downtown. UH System's flagship institution is the University of Houston (UH) and it is the only doctoral degree granting comprehensive research institution in East Texas. Its flagship UH campus is the third-largest university in Texas with an enrollment of more than 35,000 and is home to more than 40 research centers and institutes. In addition to UH System institutions, the city has Texas Southern University, a historically black university located in the historic Third Ward community.
Houston is the location of several private institutions—both secular and non-secular. The city is home to Rice University, a private institution boasting one of the largest financial endowments of any university in the world—it was ranked the 17th-best university overall in the nation by US News and World Report. Rice maintains a variety of research facilities and laboratories. Founded in 1923, South Texas College of Law boasts one of the nation's finest programs for trial advocacy and is Houston's oldest law school. The University of St. Thomas, a Catholic liberal arts college following the Basilian tradition, was founded by the Basilian Fathers of Canada, and located in the Montrose area. Houston Baptist University, a Baptist institution founded in 1960, is located in southwest Houston and boasts more than 50 undergraduate majors and pre-professional programs ranging from Biblical languages to nursing.
Much of Houston is served by the Houston Community College System, which is the fourth largest community college systems in the United States. Parts of northern Houston are served by North Harris Montgomery Community College District. Parts of eastern and southeastern Houston are served by San Jacinto College. Many of Houston's suburbs also have their own community college systems.
Primary and secondary education Hattie Mae White Educational Support Center is the headquarters of the Houston Independent School District. All public school systems in Texas are administered by the Texas Education Agency (TEA). There are many public school districts serving the city of Houston—the largest of which is the Houston Independent School District, which serves a large majority of the area within the city. There are 15 other school districts that also take students from the city limits.
There are also many charter schools that are run separately from school districts, but are administered by the Texas Education Agency. In addition, public school districts—such as Houston ISD and Spring Branch ISD—also have their own charter schools.
Houston has numerous private schools of all types. The Texas Education Agency has no authority over private school operations; private schools may or may not be accredited, and achievement tests are not required for private school graduating seniors. The Houston area is home to more than 300 private schools and several are well-known. Many of the schools are accredited by an accrediting agency recognized by Texas Private School Accreditation Commission (TEPSAC). In addition, Houston area Catholic Schools are operated by the Archdiocese of Galveston-Houston.
 Wikipedia Provided All Information on Houston (2006)
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