Texas and Houston have once again earned top accolades for economic development from Site Selection Magazine, highlighting the region’s attractiveness for business. A survey of business executives also affirmed Texas as the top state for business climate, with Houston listed as one of the “places to grow fast.”   These rankings are based on the perspectives of corporate decision makers. Criteria for the rankings included the executive survey, 2023 Governor’s Cup rankings, Inc. 5000 companies, total and per capita economic development projects as well as various other Conway Data rankings. In addition to the rankings, a survey of site selectors yielded a list of most important criteria, naming utilities, workforce skills, land and building prices and ease of permitting and regulation.  The study gave special notice to Chevron’s recent headquarters relocation to Houston, its low-carbon and ammonia production plant in Baytown and the company’s success working with the Texas General Land Office for the largest offshore carbon dioxide storage lease in the U.S. These examples of business expansion reflect the region’s business-friendly environment.  Texas earned the top state for business climate and top state for FTZ impact, with the Port of Houston being named the seventh-ranked foreign trade zone out of nearly 300 nationally. Texas ranked number one in merchandise received and exports, coming at the top of the list for warehouse and distribution exports and production activity. Much of Texas’s acumen can be traced to Houston, the top exporting metro in the United States – more goods are exported from the Houston metro than New York and Los Angeles combined.  “The evidence is clear that Texas is a top destination for business, and Houston’s business climate stands as a leader attracting new foreign and domestic investments,” Partnership SVP of Economic Development Craig Rhodes said. “We have the essential foundation for any business to succeed, backed by our robust infrastructure, regulatory environment, a skilled workforce, and a deep understanding of company needs. Here in Houston, we offer an exceptional platform for businesses to thrive and make a meaningful impact both domestically and internationally.”  This news further underscores Houston as a top destination for foreign trade and investment, along with the 2023 Financial Times-Nikkei ranking as the top U.S. city for foreign investment. With the nation’s busiest port by tonnage, a welcoming culture and regulatory environment, an ambitious workforce and favorable real estate pricing, Houston serves as fertile ground for business to thrive.  To read further on what makes Greater Houston a top destination for business, visit our Economic Development page. 

In a significant nod to Houston's leadership in the energy transition, S&P Global has moved its annual Financing US Power Conference to Houston after 25 years in New York. The shift is more than just geographical. It is symbolic of Houston's role as a unique collaborative hub for traditional energy and scalable technologies for a low carbon future.   The three-day conference this week is set to attract over 200 attendees, including executives and decision makers from more than 100 companies. These leaders will explore the future of power generation and the essential role finance plays in advancing the energy transition.  “We moved the Financing US Power Conference to Houston to better reflect the city’s growing leadership in energy financing and innovation,” Brian Speight, content program manager at S&P Global, said. “Houston has seen a significant increase in capital flows toward both traditional and renewable energy projects. At the same time, we wanted to engage directly with the energy community here while maintaining strong ties with the financial institutions in New York, ensuring that we’re bridging the conversation between these two critical hubs for energy investment.”  Houston-based energy transition startups, businesses, and companies secured more than $3.88 billion in venture capital and private equity funding in the last five years, with corporate and strategic merger & acquisition investments driving the majority of these deals.  This ability to attract significant capital is further bolstered by Houston’s unique ecosystem. A powerful combination of Fortune 500 energy companies, alongside a thriving network of startups, accelerators, incubators, and world-class education institutions like Rice University and the University of Houston, make Houston a hotbed for energy innovation.  Building on this momentum, the Greater Houston Partnership has led efforts over the last six years to ensure the region remains at the forefront of the energy transition. The launch of the Houston Energy Transition Initative (HETI) has catapulted these efforts, leveraging Houston's industry leadership to accelerate global solutions for an energy-abundant, low-carbon future.  The Financing US Power Conference in Houston will play a pivotal role in advancing conversations that drive progress toward a more sustainable global future.  Learn more about Houston’s Energy Transition Initiative.