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. 

The Greater Houston Partnership received a 2024 Excellence in Economic Development Bronze Award from the International Economic Development Council (IEDC). The award was bestowed specifically for the Partnership’s work in the regional or cross-border partnership for regions with 500,000 or more residents.  The strategy formed in partnership with regional allies, as elaborated in the regional playbook, aims to enhance regional economic development in greater Houston by fostering collaboration and coordination among stakeholders. This involved creating a framework for the Houston Regional Economic Development Alliance (HREDA) to maximize engagement and support.  Formed in 2006, HREDA is comprised of economic development organizations and municipalities interested in creating jobs and investment to maintain a positive business environment. HREDA meets monthly at Partnership Tower, and often at other locations around the region. Hosted monthly at Partnership Tower and other regional sites, HREDA meetings include members from 98 economic development organizations, representing over 160 full-time economic development professionals.  The project's uniqueness and innovation reside in member involvement at every stage, ensuring ownership of the final playbook. It addressed previous collaboration deficits noted in studies, aiming to leverage regional resources for economic growth. The scale of marketing the region is no small feat. Covering 8,838 square miles, the 12-county Greater Houston region, with its centerpiece, the 10-county Houston-Pasadena-The Woodlands MSA, surpasses an area the size of New Jersey,  Despite this vast expanse, the region's stakeholders have rallied together as allies, streamlining processes to attract prospective companies. This collective effort reflects a shared commitment to securing victories for the region's economic growth. “I am proud to be a part of an organization, such as HREDA, that exemplifies how regionalism and collaboration can drive economic success and set high standards for regional development,” HREDA Chair and Chief Economic Development Officer at Partnership Lake Houston Stephanie Wiggins said. “By uniting various stakeholders under a common goal, HREDA leverages the strengths of the Houston region to create a prosperous and sustainable economic environment." Every year IEDC looks specifically for economic development organizations, government entities, initiatives, and programs that have demonstrated consistent, exemplary performance in the economic development profession, leading the execution of projects that have a significant impact on revitalizing communities, and playing a major role in shaping and improving the practice of economic development. “This group understands what it means to succeed together," Greater Houston Partnership President and CEO Steve Kean said. “When we work together as one to combine the expertise, assets and capabilities of our regional partners, the Houston region is unmatched in potential. Through this mindset of regionalism, we can create a more prosperous and inclusive future for all of our citizens.” Learn more about the 12-county region the Partnership represents.