While often underestimated and outshined by other Texas tech cities, Houston has made a name for itself throughout the tech industry. With startups and corporate companies alike, the city is brought together by innovation and a general determination to succeed. Houston is the largest city in Texas with a population of over 2 million people. Houston is teeming with workers across a variety of industries.
Once known for its aerospace and energy industries, Houston is also making a name for itself in the tech world. With a continued influx of jobs and tech workers, who knows where the city of Houston might go within the next decade.
Houston + Tech = Innovation
As mentioned previously, Houston is a bustling ecosystem of many different industries working together to enact real change across industry lines. From the tech and finance sectors to the medical and energy industries, the possibilities for innovation in Houston are endless.
When you think of major tech cities in the United States, Houston may not be the first place that comes to mind. Even in Texas, Houston is often overshadowed by larger tech cities such as Austin and Dallas. However, don’t discount Houston entirely.
The truth is, Houston is thriving. Let’s dive into the numbers and see just how successful Houston’s economy is.
Houston by Numbers
There are currently an estimated 230,000 tech workers in the Houston area. The state of Texas comes in second nationwide for its net tech employment and third for the net tech jobs added in 2018 alone.
Houston boasts one of the highest concentrations of engineers in the world. The city works with such professionals to enhance the energy and aerospace industries. Additionally, Houston is home to a variety of world-renowned researchers in organizations such as NASA.
The current median housing price in Houston is $285,000, which is significantly lower than Austin, another competitive tech city in Texas. Studies show that Houston residents would need to bring home around $53,000 per year to live comfortably in the city.
Fastest Growing Industries in Houston
Now that we’ve gotten a bit of an economics lesson on the success of Houston’s tech scene. With so much change and innovation across industries, you may be wondering which industries in Houston are growing the fastest. Time for the moment you’ve been waiting for. Let’s dive into the fastest growing industries in Houston.
1. Startup Central
This should come as no surprise when looking at the prosperous tech industry of Houston. Houston is currently home to over 3,000 startups and many incubators and funders. These startups have brought in over 1 billion dollars in funding to Houston’s economy in 2018 alone.
Major communities and incubators such as Station Houston, have helped rally the community behind local startups through mentorship, funding, and much more. Local startups that have made major impacts on both local and nationwide markets include Sunnova, P97 Networks, Infrastructure Networks, MacroFab, and much more.
2. Corporate Growth
Both startups and major corporations alike are all working hard to make Houston a better place! Houston boasts a litany of companies spanning a variety of industries. These include JP Morgan Chase, Shell, Chevron, Microsoft, and many more.
These companies impact both the local and global economies. With increased innovation and expansion in the area also comes the increase in wages and job availability. The city of Houston is committed to collaborating with major corporations to find a sustainable and healthy balance of businesses across many local industries.
Houston’s Medtech industry is thriving. The world of medicine and technology have long been working together to create innovations that make a real impact on patient’s lives. Home to one of the most extensive medical facilities on Earth, Houston works hard to maintain its reputation as a community dedicated to the betterment of society.
4. Aerospace and Energy
This list would be incomplete without mentioning the bustling aerospace and energy industries of Houston. These industries are combining with tech to offer the world cutting edge innovations at lightning speeds. Houston has long been a leader in aerospace and energy industries housing both a significant hub for NASA and also several leading gas and oil companies. Major companies in the area include Phillips 66, ConocoPhillips, Plains All American Pipeline, Centerpoint Energy, Citgo, Shell, and many more.
This merging of aerospace and energy with tech has offered the city a solution to a variety of problems and a chance to innovate in ways not previously seen before. Additionally, this merging of industries has opened up significant interest in the startup industry. Major energy startups in the area include Sunnova, P97 Networks, Solugen, and many more.
What’s the takeaway?
Houston has long been a pioneer of growth and innovation across multiple industries. With the continued expansion of their workforce and continued initiatives for the collaboration between startups and major corporate companies, it’s safe to say that Houston is a community that dedicates itself to the betterment of others.
Not only is the city hailed as one of the top places for professionals to live, but the city also boasts many community initiatives that work to make everyone feel at home within the confines of the Houston area. With lower than average housing costs and continued downward unemployment rates, the city of Houston is thriving and shows no signs of slowing down.
Startups across the city have long been a focal point of the economy in Houston. With millions of dollars in funding and the employment of professionals across Houston, these startups are an integral part of the community in Houston.
Likewise, corporate companies are also bringing a lot to the table. When corporate companies and startups can coexist together and work to enact real change, good things happen!
The Medtech industry is thriving, and Houston is living proof of a city that works hard to improve medical innovation. The merging of the technology and medical sector is having real impacts on the lives of individuals.
Houston has long been a pioneer of the aerospace and energy industries. With continued expansion and dedication to clean energy, Houston based companies are working hard to enact positive change for the environment through the power of technology.
Admittedly, that was a lot of information. You may be wondering what this all means for you. If you’re looking to make a name for yourself in the Houston area, understanding which industries are leading the charge for innovation is a must. Even if you’re not from the Houston area, keeping up on the latest trends across multiple industries is a great way to keep informed about the world’s latest innovations and technological advances.