HOUSTON (Dec. 12, 2024) — The Greater Houston Partnership has released its forecast for job growth in the Metro Houston area, forecasting the creation of 71,200 jobs in 2025.  The sectors expected to experience the greatest gains, in order, are:  Health care Construction Professional and technical services Government Restaurants and bars Click to expand Houston is projected to finish 2025 with over 3.5 million payroll jobs, setting a record for the region. Several factors support this growth, including the ongoing expansion of the U.S. economy, the continued decline in interest rates, increasing consumer confidence, and a steady influx of domestic and foreign companies establishing operations in Houston.  Additionally, a deep backlog of construction projects and local income and population growth contribute to the positive outlook for job creation. “Over the past two decades, Houston has experienced several recessions, devastating weather events and the COVID-19 pandemic, but despite these events, the Houston region’s economy has remained competitive,” Partnership Chief Economist Patrick Jankowski said. “Houston’s GDP has grown 70 percent after adjusting for inflation, and that growth is proof that our resilient economy will encourage continued growth for years to come.” According to the forecast, every sector except information is expected to experience job growth next year. The information sector has struggled for years, losing jobs in 12 out of the last 20 years, largely due to technological advancements and shifting consumer preferences.  The Houston region created 60,000 jobs in the 12 months ending October 2024. The region should end the year with 58,000 jobs. The national outlook is also looking positive. The probability of a recession over the next 12 months sits at 26 percent, according to The Wall Street Journal’s October survey of prominent business economists.  A sector-by-sector breakdown of the jobs forecast and the factors impacting each industry can be found in the full report. ### Media Contact    Brina Morales                                                 Director, Communications     bmorales@houston.org      

Houston is undergoing a transformative wave of redevelopment, driven by the efforts of local organizations and developers to enhance the city’s quality of life and urban landscape.   A Downtown Transformation  Click to expand GreenStreet, the four-block mixed-use district in downtown managed by Texas-based real estate firm Rebees, is slated for a multimillion-dollar makeover. Already home to popular destinations such as House of Blues and The Laura Hotel, this renovation project will further enhance its appeal, positioning it as a premier destination for residents and visitors.  Planned updates include converting the former Forever 21 building into a vibrant, pedestrian-friendly alleyway filled with dining, retail and nightlife attractions. Additional enhancements feature the installation of rooftop solar panels, improved landscaping with lush gardens and upgraded office spaces with multi-level amenities. Phase one of construction is expected to commence in Q1 2025 and be completed by Q3.  “The readaptation of GreenStreet will create a new model for urban space in Downtown Houston,” said Mark Motonaga, Creative Director and Partner, RIOS, the design firm leading the project, in a statement. “Our vision draws inspiration from Houston’s diverse culture and seamlessly blends nature, sustainability, and architecture to create a new urban streetscape experience that unfolds across three distinct blocks and builds toward a central hub of activity connecting people at the ground level.”  Breathing New Life into Baytown  Click to expand In Baytown, Fidelis Realty Partners recently broke ground on the redevelopment of the former San Jacinto Mall, which closed its doors in 2022. The 105-acre project, dubbed San Jacinto Marketplace, will include 500,000 square feet of retail and dining space, complemented by a public green space known as Pelican Green, designed for community gatherings and events. Pedestrian walkways will also be constructed to connect key areas throughout the marketplace, enhancing accessibility and walkability.  According to the Houston Business Journal, phase one of the project is expected to be completed by 2026, while phase two, which includes the development of multifamily, hotel and office space, is still in the planning stages.  Walkable District in Westchase  Click to expand Meanwhile, Johnson Development has unveiled plans to transform the former Halliburton campus in the Westchase District into Park Eight Place, a walkable, 70-acre mixed-use destination. The $1 billion project will feature a mix of residential, retail, hotel and office space with access to nature and recreational amenities in the adjacent 200-acre Arthur Storey Park.   Park Eight Place is set to become Houston’s first developer-initiated Walkable Place, a designation granted by the Houston City Council to promote pedestrian-friendly urban development. This designation allowed Johnson Development to secure additional land for the project. Construction on roads and utilities is scheduled to begin next year.  “This is a prime location that is just about 15 minutes from anywhere you want to go in Houston,” said Charles Lusk, General Manager of Park Eight Place, in a statement. “But within Park Eight Place, you will find everything you need and all within a five- to eight-minute walk from your door. Park Eight Place will emerge as a vibrant urban village where health, connection, sustainability and convenience converge.”  Learn more about living in Houston.