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 continues to evolve as a premier destination for life sciences and biomanufacturing through a multifaceted strategy that capitalizes on its existing strengths and fosters innovation and growth.   Since its inception in 1945, the Texas Medical Center has evolved into a vast medical district spanning 5 square miles  and serving over ten million patients annually.  More than 60 institutions operate within the Texas Medical Center, serving as a catalyst for Houston’s collaborative ecosystem, with efforts like the Cell Therapy Manufacturing Center, JLABS@TMC and CUBIO. This helps set the stage for groundbreaking research and provides direct access to nearly 5,000 active clinical trials, a major boon to innovation.   Recent years have witnessed significant strides in laying a robust foundation for Houston's position as a leader in innovative life sciences and biotechnology. These efforts came into focus last month at Bisnow’s Life Sciences Evolution event, with leaders in the life sciences industry, real estate and innovation envisioning the future growth of the Houston life sciences market. Among the assets shared as advantages were access to clinical trials, business environment, workforce efforts and quality of life.   “Having access to the patient population is critical to success, especially a diverse population,” Monique Knighten, PhD of Portal Innovations said. “There’s a key benefit to have access to these clinical trials and the expertise involved, as well as living close to where the science is being developed.”   Legislative actions, such as the passage of Proposition 10 in November which provides new incentives for medical device and pharmaceutical manufacturing companies, enhances the region's competitiveness and economic prospects. Additionally, investments in workforce development, exemplified by collaborations between educational institutions and industry partners like San Jacinto College and the National Institute for Bioprocessing Research and Training (NIBRT), ensure a skilled talent pool for the future.  “The relationships with companies, colleges and high schools are integral,” Pearland EDC Vice President Brian Malone said on the panel at Bisnow discussing suburban life sciences growth. “We’ve really worked hard on that with a business retention plan to find out what type of training and what type of workers these companies need.”   Furthermore, substantial real estate investments further support life sciences research and development. TMC’s Helix Park opened in 2023 with the TMC Collaborative Building and industry research hub Dynamic One, with new tenant Houston Methodist leasing 75,800 square feet. Just north inside the Medical District, Hines’ Levit Green is now leasing nearly 300,000 square feet of purpose-built lab and office space as part of a future 53-acre district. On the northeast side of the metro, McCord’s master-planned Generation Park recently broke ground on a new Center for Biotechnology in partnership with San Jacinto College. In The Woodlands, Alexandria is developing 8800 Technology Forest Place into 325,000 square feet of Class A space.   Initiatives such as the Cancer Prevention Research Institute of Texas (CPRIT) and a thriving innovation ecosystem further reinforce the city's position at the forefront of bioscience breakthroughs and economic impact.  With strategic advantages like its top-ranked port, diverse population, and accessibility to global markets, Houston is poised to further elevate its status as a hub for life sciences innovation. As Houston continues to advance its life sciences and biotechnology sector, opportunities for collaboration and growth abound, driving progress in public health and driving the next wave of bioscience innovation.   Explore Houston's dynamic life sciences ecosystem.