Houston

==Economy==

{{Main|Economy of Houston}}
{{further|List of companies in Houston}}
{| class="wikitable" style="float:right; font-size:75%; text-align:center; margin:1em;"
|-
| colspan="3" style="background:#9BDDFF;"|'''[[Fortune 500]] companies based in Houston'''<ref>{{Cite web | url=https://fortune.com/fortune500/search/?hqcity=Houston | title=Fortune 500 | magazine=[[Fortune (magazine)|Fortune]]}}</ref>
|- style="background:#ccc;"
|-
! Rank !! Company
|-
| 27 || style="background:#afa;"|[[Phillips 66]]
|-
| 56 || [[Sysco]]
|-
| 93 || style="background:#afa;"|[[ConocoPhillips]]
|-
| 98 || style="background:#afa;"|[[Plains GP Holdings]]
|-
| 101 || style="background:#afa;"|[[Enterprise Products Partners]]
|-
| 129 || style="background:#afa;"|[[Baker Hughes]]
|-
| 142 || style="background:#afa;"|[[Halliburton]]
|-
| 148 || style="background:#afa;"|[[Occidental Petroleum]]
|-
| 186 || style="background:#afa;"|[[EOG Resources]]
|-
| 207 || [[Waste Management (corporation)|Waste Management]]
|-
| 242 || style="background:#afa;"|[[Kinder Morgan]]
|-
| 260 || style="background:#afa;"|[[CenterPoint Energy]]
|-
| 261 || [[Quanta Services]]
|-
| 264 || [[Group 1 Automotive]]
|-
| 319 || style="background:#afa;"|[[Calpine]]
|-
| 329 || style="background:#afa;"|[[Cheniere Energy]]
|-
| 365 || style="background:#afa;"|[[Targa Resources]]
|-
| 374 || style="background:#afa;"|[[NOV Inc.]]
|-
| 391 || [[Westlake Chemical]]
|-
| 465 || style="background:#afa;"|[[APA Corporation]]
|-
| 496 || [[Crown Castle]]
|-
| 501 || [[KBR (company)|KBR]]
|-
| colspan="3" style="background:#afa;"|''<small>Companies in the [[petroleum industry]]</small>''
|}

Houston is recognized worldwide for its energy industry—particularly for oil and natural gas—as well as for biomedical research and aeronautics. Renewable energy sources—wind and solar—are also growing economic bases in the city,<ref>{{cite web |title=Energy |work=Greater Houston Partnership |access-date=November 15, 2019 |url=https://www.houston.org/why-houston/industries/energy |archive-url= https://web.archive.org/web/20190330055503/https://www.houston.org/why-houston/industries/energy |archive-date=March 30, 2019 |url-status=live }}</ref><ref>{{cite web |title=Alternative Energy in the Houston Region |work=Greater Houston Convention and Visitors Bureau |access-date=April 20, 2009 |url=http://www.visithoustontexas.com/visitors/green/Alternative_Energy_Industry_in_Houston |archive-url= https://web.archive.org/web/20090412074148/http://www.visithoustontexas.com/visitors/green/Alternative_Energy_Industry_in_Houston |archive-date=April 12, 2009 |url-status=live }}</ref> and the City Government purchases 90% of its annual 1 [[Watt-hour|TWh]] power mostly from wind, and some from solar.<ref>{{cite web |title=Houston Ranks No. 1 in America in Renewable Energy Use — No, Really |url=https://www.papercitymag.com/culture/houston-no-1-renewable-energy-power-oil-gas-world/ |website=PaperCity |archive-url= https://web.archive.org/web/20210309232837/https://www.papercitymag.com/culture/houston-no-1-renewable-energy-power-oil-gas-world/ |archive-date=March 9, 2021 |date=July 3, 2019 |url-status=live}}</ref><ref>{{cite web |title=National Top 100 |url=https://www.epa.gov/sites/default/files/2021-06/documents/top100_april2021.pdf |publisher=[[EPA]] |date=April 26, 2021 |url-status=live |archive-url=https://web.archive.org/web/20230404103922/https://www.epa.gov/sites/default/files/2021-06/documents/top100_april2021.pdf |archive-date= Apr 4, 2023 }}</ref> Since the 2020s Houston has become a growing hub for technology startup firms and is the fastest growing sector of the city's economy.<ref>{{Cite web|title=Houston named the no. 2 fastest growing tech hubs amid the pandemic|url=https://houston.culturemap.com/news/innovation/05-12-21-houston-deemed-no-2-fastest-growing-tech-hubs-amid-the-pandemic-report-shows/ |first1= John |last1=Egan |date=May 12, 2021 |access-date=August 1, 2022|website=Culturemap|language=en}}</ref> Major technology and software companies within Greater Houston include [[Crown Castle]], [[KBR (company)|KBR]], [[FlightAware]], [[Cybersoft]], Houston Wire & Cable, and [[HostGator]]. [[Aylo]], [[Go Daddy]], and [[ByteDance]] have offices in the Houston area. On April 4, 2022, [[Hewlett Packard Enterprise]] relocated its global headquarters from California to the Greater Houston area.<ref>{{Cite web|last=Neri |first=Antonio |date=April 4, 2022|title=HPE celebrates grand opening of Houston headquarters|url=https://www.hpe.com/us/en/newsroom/blog-post/2022/04/hpe-celebrates-grand-opening-of-houston-headquarters.html |access-date=August 1, 2022|website=HPE|language=en}}</ref> The [[Houston Ship Channel]] is also a large part of Houston's economic base.

Because of these strengths, Houston is designated as a [[global city]] by the [[Globalization and World Cities Research Network|Globalization and World Cities Study Group and Network]] and global management consulting firm A.T. Kearney.<ref name="kearney" /> The Houston area is the top U.S. market for exports, surpassing New York City in 2013, according to data released by the U.S. Department of Commerce's International Trade Administration. In 2012, the Houston–The Woodlands–Sugar Land area recorded $110.3 billion in merchandise exports.<ref>{{cite web |url-status=live |url=http://www.bizjournals.com/houston/news/2013/07/11/houston-surpasses-new-york-as-top-us.html |title=Houston surpasses New York as top U.S. export market |website=Houston Business Journal |first1=Molly |last1=Ryan |date=Jul 11, 2013 |archive-url=https://web.archive.org/web/20130803022057/http://www.bizjournals.com/houston/news/2013/07/11/houston-surpasses-new-york-as-top-us.html |archive-date=August 3, 2013 |access-date=July 21, 2013}}</ref> Petroleum products, chemicals, and oil and gas extraction equipment accounted for roughly two-thirds of the metropolitan area's exports last year. The top three destinations for exports were Mexico, Canada, and Brazil.<ref>{{cite web |url-status=dead |url=http://app1.kuhf.org/articles/1373562479-Houston-Passes-New-York-to-Become-Nations-Top-Exporting-Metro-Area.html |title=Houston Passes New York to Become Nation's Top Exporting Metro Area |archive-url=https://web.archive.org/web/20130716154311/http://app1.kuhf.org/articles/1373562479-Houston-Passes-New-York-to-Become-Nations-Top-Exporting-Metro-Area.html |archive-date=July 16, 2013 |website=kuhf news for houston |date=July 12, 2013 |access-date=July 21, 2013 |first1=Andrew |last1=Schneider }}</ref>

The Houston area is a leading center for building oilfield equipment.<ref>{{cite web |url=http://www.houston.org/pdf/research/16BW010.pdf |title=Energy Industry Overview |url-status=dead |archive-url=https://web.archive.org/web/20100422032347/http://www.houston.org/pdf/research/16BW010.pdf |archive-date=April 22, 2010 |df=mdy-all |publisher=Greater Houston Partnership |access-date=March 21, 2009}}</ref> Much of its success as a petrochemical complex is due to its busy ship channel, the [[Port of Houston]].<ref>{{cite web |url=http://www.portofhouston.com/pdf/pubaffairs/POHA-firsts.pdf |title=The Port of Houston Delivers First and Foremost from the Very Beginning |url-status=dead |archive-url=https://web.archive.org/web/20070614043355/http://www.portofhouston.com/pdf/pubaffairs/POHA-firsts.pdf |archive-date=June 14, 2007 |publisher=The Port of Houston Authority |date=May 15, 2007 |access-date=May 27, 2007}}</ref> In the United States, the port ranks first in international commerce and 16th among the largest ports in the world.<ref>{{cite web |title=Port Rankings |url=http://aapa.files.cms-plus.com/Statistics/WORLD%20PORT%20RANKINGS%202016.xlsx |website=Aapa-ports.org |publisher=American Association of Port Authorities |access-date=December 20, 2019}}</ref> Unlike most places, high oil and gasoline prices are beneficial for Houston's economy, as many of its residents are employed in the energy industry.<ref>{{cite news |last=Bustillo |first=Miguel |title=Houston is Feeling Energized |work=Los Angeles Times |date=December 28, 2006 |url=http://www.latimes.com/news/nationworld/columnone/la-na-houston28dec28,1,6780480.story?page=1&coll=la-headlines-columnone |access-date=February 6, 2007 |archive-url=https://web.archive.org/web/20080621065935/http://www.latimes.com/news/nationworld/columnone/la-na-houston28dec28%2C1%2C6780480.story?page=1&coll=la-headlines-columnone |archive-date=June 21, 2008 |url-status=dead}}</ref> Houston is the beginning or end point of numerous oil, gas, and products pipelines.<ref>{{cite web |url=http://theodora.com/pipelines/united_states_pipelines.html |title=United States Pipelines map – Crude Oil (petroleum) pipelines – Natural Gas pipelines – Products pipelines |access-date=April 1, 2014 |archive-url=https://web.archive.org/web/20140211010635/http://www.theodora.com/pipelines/united_states_pipelines.html |archive-date=February 11, 2014 |url-status=live }}</ref>

The Houston–The Woodlands–Sugar Land metro area's gross domestic product (GDP) in 2022 was $633&nbsp;billion, making it the seventh-largest of any metropolitan area in the United States and larger than [[Iran]]'s, [[Colombia]]'s, or the [[United Arab Emirates]]' GDP.<ref>{{cite web |url=https://fred.stlouisfed.org/series/NGMP26420 |website=U.S. Bureau of Economic Analysis (BEA) |title=Regional Economic Accounts GDP & Personal Income |archive-url=https://web.archive.org/web/20180916202312/https://apps.bea.gov/iTable/drilldown.cfm?reqid=70&stepnum=11&AreaTypeKeyGdp=2&GeoFipsGdp=XX&ClassKeyGdp=NAICS&ComponentKey=200&IndustryKey=1&YearGdp=2016&YearGdpBegin=-1&YearGdpEnd=-1&UnitOfMeasureKeyGdp=Levels&RankKeyGdp=1&Drill=1&nRange=5 |archive-date=September 16, 2018 |url-status=live }}</ref> Only 27 countries other than the United States have a gross domestic product exceeding Houston's regional gross area product (GAP).<ref name="imf2016gdp-report">{{cite web |url=https://www.imf.org/external/pubs/ft/weo/2013/02/weodata/weorept.aspx?sy=2016&ey=2016&scsm=1&ssd=1&sort=country&ds=.&br=1&pr1.x=55&pr1.y=16&c=512%2C668%2C914%2C672%2C612%2C946%2C614%2C137%2C311%2C962%2C213%2C674%2C911%2C676%2C193%2C548%2C122%2C556%2C912%2C678%2C313%2C181%2C419%2C867%2C513%2C682%2C316%2C684%2C913%2C273%2C124%2C868%2C339%2C921%2C638%2C948%2C514%2C943%2C218%2C686%2C963%2C688%2C616%2C518%2C223%2C728%2C516%2C558%2C918%2C138%2C748%2C196%2C618%2C278%2C522%2C692%2C622%2C694%2C156%2C142%2C624%2C449%2C626%2C564%2C628%2C565%2C228%2C283%2C924%2C853%2C233%2C288%2C632%2C293%2C636%2C566%2C634%2C964%2C238%2C182%2C662%2C453%2C960%2C968%2C423%2C922%2C935%2C714%2C128%2C862%2C611%2C135%2C321%2C716%2C243%2C456%2C248%2C722%2C469%2C942%2C253%2C718%2C642%2C724%2C643%2C576%2C939%2C936%2C644%2C961%2C819%2C813%2C172%2C199%2C132%2C733%2C646%2C184%2C648%2C524%2C915%2C361%2C134%2C362%2C652%2C364%2C174%2C732%2C328%2C366%2C258%2C734%2C656%2C144%2C654%2C146%2C336%2C463%2C263%2C528%2C268%2C923%2C532%2C738%2C944%2C578%2C176%2C537%2C534%2C742%2C536%2C866%2C429%2C369%2C433%2C744%2C178%2C186%2C436%2C925%2C136%2C869%2C343%2C746%2C158%2C926%2C439%2C466%2C916%2C112%2C664%2C111%2C826%2C298%2C542%2C927%2C967%2C846%2C443%2C299%2C917%2C582%2C544%2C474%2C941%2C754%2C446%2C698%2C666&s=NGDPD&grp=0 |title=Report for selected countries and subjects: Gross domestic product, current prices (USD) |access-date=September 16, 2018 |work=World Economic Outlook Database, September 2018 |publisher=[[International Monetary Fund]] |archive-url=https://web.archive.org/web/20180916202555/https://www.imf.org/external/pubs/ft/weo/2013/02/weodata/weorept.aspx?sy=2016&ey=2016&scsm=1&ssd=1&sort=country&ds=.&br=1&pr1.x=55&pr1.y=16&c=512%2C668%2C914%2C672%2C612%2C946%2C614%2C137%2C311%2C962%2C213%2C674%2C911%2C676%2C193%2C548%2C122%2C556%2C912%2C678%2C313%2C181%2C419%2C867%2C513%2C682%2C316%2C684%2C913%2C273%2C124%2C868%2C339%2C921%2C638%2C948%2C514%2C943%2C218%2C686%2C963%2C688%2C616%2C518%2C223%2C728%2C516%2C558%2C918%2C138%2C748%2C196%2C618%2C278%2C522%2C692%2C622%2C694%2C156%2C142%2C624%2C449%2C626%2C564%2C628%2C565%2C228%2C283%2C924%2C853%2C233%2C288%2C632%2C293%2C636%2C566%2C634%2C964%2C238%2C182%2C662%2C453%2C960%2C968%2C423%2C922%2C935%2C714%2C128%2C862%2C611%2C135%2C321%2C716%2C243%2C456%2C248%2C722%2C469%2C942%2C253%2C718%2C642%2C724%2C643%2C576%2C939%2C936%2C644%2C961%2C819%2C813%2C172%2C199%2C132%2C733%2C646%2C184%2C648%2C524%2C915%2C361%2C134%2C362%2C652%2C364%2C174%2C732%2C328%2C366%2C258%2C734%2C656%2C144%2C654%2C146%2C336%2C463%2C263%2C528%2C268%2C923%2C532%2C738%2C944%2C578%2C176%2C537%2C534%2C742%2C536%2C866%2C429%2C369%2C433%2C744%2C178%2C186%2C436%2C925%2C136%2C869%2C343%2C746%2C158%2C926%2C439%2C466%2C916%2C112%2C664%2C111%2C826%2C298%2C542%2C927%2C967%2C846%2C443%2C299%2C917%2C582%2C544%2C474%2C941%2C754%2C446%2C698%2C666&s=NGDPD&grp=0 |archive-date=September 16, 2018 |url-status=live }}</ref> In 2010, mining (which consists almost entirely of exploration and production of oil and gas in Houston) accounted for 26.3% of Houston's GAP up sharply in response to high energy prices and a decreased worldwide surplus of oil production capacity, followed by engineering services, health services, and manufacturing.<ref>"{{cite web |url=http://www.houston.org/pdf/research/15AW001.pdf |title=Gross Area Product by Industry |url-status=dead |archive-url=https://web.archive.org/web/20100711235908/http://www.houston.org/pdf/research/15AW001.pdf |archive-date=July 11, 2010 |df=mdy-all}}&nbsp;{{small|(28.3&nbsp;KB)}}", ''Greater Houston Partnership''. Retrieved on March 21, 2009.</ref>

The [[University of Houston System]]'s annual impact on the Houston area's economy equates to that of a major corporation: $1.1 billion in new funds attracted annually to the Houston area, $3.13 billion in total economic benefit, and 24,000 local jobs generated.<ref name="Economic Impact">{{cite news |title=Study suggests UH degrees are crucial economic factor |last=TRESAUGUE |first=Matthew |url=http://www.chron.com/disp/story.mpl/3868657.html |work=Houston Chronicle |date=May 17, 2006 |access-date=May 31, 2011 |archive-url=https://web.archive.org/web/20121021121736/http://www.chron.com/news/houston-texas/article/Study-suggests-UH-degrees-are-crucial-economic-1898752.php |archive-date=October 21, 2012 |url-status=live }}</ref><ref name="UH System Economic Impact">{{cite web |title=The Economic Impact of Higher Education on Houston: A Case Study of the University of Houston System |work=University of Houston System |access-date=May 14, 2011 |url=http://www.advancement.uh.edu/impact/download/PDF/EconomicImpactStudy.pdf |url-status=dead |archive-url=https://web.archive.org/web/20110720084907/http://www.advancement.uh.edu/impact/download/PDF/EconomicImpactStudy.pdf |archive-date=July 20, 2011}}</ref> This is in addition to the 12,500 new graduates the U.H. System produces every year who enter the workforce in Houston and throughout Texas. These degree-holders tend to stay in Houston. After five years, 80.5% of graduates are still living and working in the region.<ref name="UH System Economic Impact"/>

Ninety-one foreign governments have established consular offices in Houston's metropolitan area, the third-highest in the nation.<ref>{{cite web |url=https://www.visithoustontexas.com/about-houston/facts-and-figures/ |title=Houston Facts & Figures |publisher=Houston First Corporation |website=Visit Houston |access-date=November 1, 2018 |archive-url=https://web.archive.org/web/20181120125644/https://www.visithoustontexas.com/about-houston/facts-and-figures/ |archive-date=November 20, 2018 |url-status=live }}</ref> Forty foreign governments maintain trade and commercial offices here with 23 active foreign chambers of commerce and trade associations.<ref>"{{cite web |url=http://www.houston.org/pdf/research/18AW001.pdf |title=Houston Foreign Consulate Representation |url-status=dead |archive-url=https://web.archive.org/web/20100711235924/http://www.houston.org/pdf/research/18AW001.pdf |archive-date=July 11, 2010 |df=mdy-all}}&nbsp;{{small|(30.2&nbsp;KB)}}", ''Greater Houston Partnership''. Retrieved on March 21, 2009.</ref> Twenty-five foreign banks representing 13 nations operate in Houston, providing financial assistance to the international community.<ref>{{cite web |title=International Banks in the Houston Area |work=Greater Houston Partnership |access-date=March 21, 2009 |url=http://www.houston.org/pdf/research/18HW010_001.pdf |url-status=dead |archive-url=https://web.archive.org/web/20100712001229/http://www.houston.org/pdf/research/18HW010_001.pdf |archive-date=July 12, 2010}}</ref>

In 2013, Houston was identified as the number one U.S. city for job creation by the U.S. Bureau of Statistics after it was not only the first major city to regain all the jobs lost in the preceding economic downturn, but also after the crash, more than two jobs were added for every one lost. Economist and vice president of research at the Greater Houston Partnership Patrick Jankowski attributed Houston's success to the ability of the region's real estate and energy industries to learn from historical mistakes. Furthermore, Jankowski stated that "more than 100 foreign-owned companies relocated, expanded or started new businesses in Houston" between 2008 and 2010, and this openness to external business boosted job creation during a period when domestic demand was problematically low.<ref name="One">{{cite web |title=Houston Is Unstoppable: Why Texas' Juggernaut Is America's #1 Job Creator |url=https://www.theatlantic.com/business/archive/2013/05/houston-is-unstoppable-why-texas-juggernaut-is-americas-1-job-creator/275927/ |work=The Atlantic |publisher=The Atlantic Monthly Group |access-date=May 29, 2013 |last=Thompson |first=Derek |date=May 28, 2013 |archive-url=https://web.archive.org/web/20130531125233/http://www.theatlantic.com/business/archive/2013/05/houston-is-unstoppable-why-texas-juggernaut-is-americas-1-job-creator/275927/ |archive-date=May 31, 2013 |url-status=live }}</ref>