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The Port of Houston Authority's Turning Basin Terminal lies at the navigational head of the second largest U.S. port. |
Houston has long been a go-to city for business. When there are decisions to make regarding the world's energy industry, chances are the parties involved will need to go to Houston. When leading-edge technologies in such industries as space, computers, electronics, and energy need to be developed, Houston is the place to go to achieve results in a variety of applied technologies.
Houston's economy is stable and growing, despite a downturn in Asian and other foreign markets, according to the Greater Houston Partnership, the city's leading business organization. The job count of the six-county Houston metropolitan area increased by 3 percent from October 1997 to October 1998. For the most part, six diverse industries drive Houston's vibrant economy: energy, petrochemicals, health care, space, computers and electronics, and data processing.
Houston remains a world center for every segment of the energy industry. More than 53 percent (some 5,000 companies) of the region's economic base is tied to energy. Houston is home to 200 significant exploration and production firms, 50 major pipeline operators, and hundreds of manufacturers of energy-sector products. Twenty-eight of the nation's 100 largest publicly traded oil and gas exploration and production firms are located in the Bayou City. Energy firms and companies that produce technologies for the energy industry continue to relocate to and expand in Houston.
The Port of Houston gives local businesses a huge advantage when knocking on international doors of commerce. The eighth largest port in the world and the busiest U.S. port in terms of foreign cargo, the Port of Houston is a 25-mile complex of diversified public and private facilities just a few hours' sailing time from the Gulf of Mexico. In 1997 (the latest statistics available), 6,435 ships called at the Port of Houston. The port handled more than 160 million short tons of merchandise. One out of every three jobs in the region is tied to international business.
The world's top scientists, engineers, and researchers are attracted to Houston to work at NASA and in the aerospace industry. |
Johnson Space Center continues to be an asset for Houston. Close to 20,000 people work in and around the 1,620-acre complex that manages NASA's shuttle and space station operations. The world's top scientists, engineers, and researchers are attracted to Houston to work at NASA and in the aerospace industry.
Houston's electronics industry employs more than 45,000 people. Compaq Computer
Corporation, one of the largest computer manufacturers in the world, is based here.
Compaq's presence attracts other electronics companies to the region.
