Houston Leads U.S. in Business Relocation, Expansion
For the past several years, Houston has thrown off the shackles of the recession and its economy has obliterated the growth statistics of virtually all other American municipalities. Now comes more good news.
Site Selection Magazine, a worldwide leader for providing information to executives responsible for corporate site selection and facility planning, has ranked Houston as the number one U.S. metropolitan area for corporate facility expansions and relocations for 2011 in its most recent edition.
The Greater Houston Area secured 195 corporate facility expansion and relocation projects in 2011, according to Craig Richard, chief economic development officer the the Greater Houston Partnership. This has allowed its metropolitan economy to grow at a rate higher than every other North American metro area, according to a recent study released by the Brookings Institution.
Houston’s 195 expansion deals easily surpassed the second-highest city of the survey, Chicago, which counted 167 projects.
These relocations will continue to add jobs by the thousands to the area. Houston has already gained more jobs than any other U.S. city since the recession, and the first major metropolitan area to fully regain all jobs lost during the economic downturn, according to the report.
Factors cited for Houston’s primacy among cities for business relocation include a strong pool of qualified labor, tax incentives, low energy costs, non restrictive zoning ordinances, and its large port with a great strategic location on the Gulf of Mexico.
Houston’s location in particular gives experts a strong indication such growth will continue.
Access to Latin American markets and beyond, particularly after the current Panama Canal expansion opens in three years, will allow the Port of Houston to grow exponentially, which will only lead to further business relocations, the article states.
Why do you think Houston has such a tedious process for relocating businesses?