Houston:
The Next Great Global City

Bob Harvey
President and CEO
Greater Houston Partnership
Greater Houston Partnership
Houston’s Leading Business Organization

Economic Development
+
International Trade and
Invest...
GHP Service Area

Ten County Houston Region
Houston '82-'87

Phoenix

Riverside

Tampa

Miami

Los Angeles

San Francisco

Atlanta

Seattle

San Diego

Chicago

Minne...
Steady job growth
Total Nonfarm Payroll

(Not Seasonally Adjusted)

Houston Metro Area, '04 - '14
2.9

Employment (Million...
Outpacing the nation
Percent of jobs recovered through August ’13
Houston vs. Top 10 Metros

203.9%

Houston

161.2%

Dall...
Key Economic Indicators
Vehicle Sales (000s)

Value of Building Permits ($ Millions)

12-Month Total, Metro Houston

Metro...
Key Economic Indicators - Energy
Texas Crude Oil Production

U.S. Rig Count

Barrels (000s)

Monthly Average

2,500

800
7...
Employment Trends
12-Month Growth Rate
15.0%
Mining and Manufacturing

Secondary Sectors

10.0%

5.0%
0.0%
-5.0%
-10.0%
-1...
Above average job growth
Metro Houston Employment (000s)
105.8

105.2
90.8

43.4

Average = 42.6

89.2

105.7
88.8

81.2

...
Houston:
The Next Great Global City
Seven Emerging Themes
• Education
• Transportation Infrastructure
• Quality of Life Issues
• Local Government Issues

• He...
Houston:
The Next Great Global City

Bob Harvey
President and CEO
Greater Houston Partnership
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Bob Harvey from the GHP on the Economics of Houston

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Bob Harvey from the GHP on the Economics of Houston

  1. 1. Houston: The Next Great Global City Bob Harvey President and CEO Greater Houston Partnership
  2. 2. Greater Houston Partnership Houston’s Leading Business Organization Economic Development + International Trade and Investment Public Policy Regional Consensus Builder
  3. 3. GHP Service Area Ten County Houston Region
  4. 4. Houston '82-'87 Phoenix Riverside Tampa Miami Los Angeles San Francisco Atlanta Seattle San Diego Chicago Minneapolis St. Louis Baltimore Philadelphia Dallas New York Houston DC Boston A shallow recession for Houston -3.3% -4.2% -4.5% -4.6% -5.1% -5.2% -5.7% -6.2% -6.5% -7.4% -7.8% -7.8% -7.8% % Jobs Lost During Recession 20 Largest U.S. Metro Areas* -8.2% -9.7% -10.2% -11.2% Source: U.S. Bureau of Labor Statistics * Excludes Detroit -12.4% -12.9% -13.2%
  5. 5. Steady job growth Total Nonfarm Payroll (Not Seasonally Adjusted) Houston Metro Area, '04 - '14 2.9 Employment (Millions) 2.8 2.7 2.6 2.5 2.4 2.3 2.2 Jan '04 Jan '05 Jan '06 Source: Texas Workforce Commission Jan '07 Jan '08 Jan '09 Jan '10 Jan '11 Jan '12 Jan '13 Jan '14
  6. 6. Outpacing the nation Percent of jobs recovered through August ’13 Houston vs. Top 10 Metros 203.9% Houston 161.2% Dallas 143.8% Washington 125.3% Boston 97.5% New York 73.5% Atlanta 70.8% San Francisco 66.5% Chicago Philadelphia Miami Los Angeles 45.5% 41.5% 39.1% 100% Source: U.S. Bureau of Labor Statistics Seasonally unadjusted
  7. 7. Key Economic Indicators Vehicle Sales (000s) Value of Building Permits ($ Millions) 12-Month Total, Metro Houston Metro Houston 400 7000 6000 350 5000 300 4000 250 3000 2000 200 1000 0 150 '04 '05 '06 '07 '08 '09 '10 Source: TexAuto Facts Report by InfoNation '11 '12 '13 '04 '05 '06 '07 Source: City of Houston '14 '08 '09 '10 '11 * Projected Sales Tax Collections ($ Millions) '13* Home Sales (000s) City of Houston, ’04 Constant Dollars '12 12-Month Total, Metro Houston 500 100 90 450 80 400 70 350 60 300 50 250 40 '04 '05 '06 '07 '08 Source: Texas State Comptroller '09 '10 '11 '12 '13* * Projected '04 '05 '06 '07 '08 Source: Houston Association of '09 REALTORS® '10 '11 '12 '13 '14
  8. 8. Key Economic Indicators - Energy Texas Crude Oil Production U.S. Rig Count Barrels (000s) Monthly Average 2,500 800 700 600 500 400 300 200 100 0 2,000 1,500 1,000 500 0 '04 '05 '06 Source: Baker Hughes '07 '08 '09 '10 '11 '12 '13 '04 '05 '06 '07 '08 '09 Source: Texas Railroad Commission '14 Spot Price, Henry Hub Natural Gas '11 '12 '13* * Projected Spot Price, West Texas Intermediate Monthly Average, $/BBL 14 '10 Monthly Average, $/BBL 160 12 140 10 120 8 100 6 80 60 4 40 2 20 0 0 '04 '05 '06 '07 '08 '09 '10 Source: U.S. Energy Information Administration '11 '12 '13 '14 '04 '05 '06 '07 '08 '09 '10 Source: U.S. Energy Information Administration '11 '12 '13 '14
  9. 9. Employment Trends 12-Month Growth Rate 15.0% Mining and Manufacturing Secondary Sectors 10.0% 5.0% 0.0% -5.0% -10.0% -15.0% Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Source: GHP calculations based on Texas Workforce Commission data Jan-10 Jan-11 Jan-12 Jan-13 Jan-14
  10. 10. Above average job growth Metro Houston Employment (000s) 105.8 105.2 90.8 43.4 Average = 42.6 89.2 105.7 88.8 81.2 80.7 76.0 59.0 52.9 51.8 52.4 47.4 37.5 17.7 19.5 17.4 -11.4 -107.4 '91 '92 '93 '94 '95 '96 '97 '98 Source: U.S. Bureau of Labor Statistics '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 GHP Forecast for '13 -3.2 -10.4 August '12 - August '13 3.6
  11. 11. Houston: The Next Great Global City
  12. 12. Seven Emerging Themes • Education • Transportation Infrastructure • Quality of Life Issues • Local Government Issues • Healthcare Access and Affordability • Economic Drivers Beyond Energy • The New Face of Houston
  13. 13. Houston: The Next Great Global City Bob Harvey President and CEO Greater Houston Partnership

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