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Old 05-27-2016, 11:07 AM
 
Location: Houston
128 posts, read 216,783 times
Reputation: 51

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Quote:
Originally Posted by ParaguaneroSwag View Post
partially dependent: yes. fully dependent: no. Houston has a lot more things that bring the economy this way. The energy industry occupies slightly over 50% of Houston's economy. That's a huge chunk but it's not everything.

Sure, a housing is being affected, but not to the level of a depression or anything like that. Basically, the growth rate decreased.
That'd make it heavily dependent in my view. Because remember, sectors/industries are not perfectly insulated from each other. O&G downturn should affect others to a little extent as well. However, I agree that we won't see mass foreclosures like we did in mid-late 80s, but if people are still getting into bidding wars, that'd be insane, and will almost sound like a bubble.
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Old 05-27-2016, 12:18 PM
 
10,097 posts, read 10,054,194 times
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What is the other 50% made up of? And how interconnected are they with O&G?

What truly independent industries does Houston have besides medical? People in here talk about Houston being diverse but they never list what other industries.
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Old 05-27-2016, 01:24 PM
 
Location: Houston
5,647 posts, read 5,004,042 times
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Quote:
Originally Posted by radiolibre99 View Post
What is the other 50% made up of? And how interconnected are they with O&G?

What truly independent industries does Houston have besides medical? People in here talk about Houston being diverse but they never list what other industries.
We have downstream petrochemicals, which is a pretty different portion of the O&G spectrum and is undergoing to biggest investment boom of my lifetime right now, focused in the Baytown / Mt. Belvieu and Brazosport areas.

Some retail and hospitality corporations have their headquarters and administration here. Stage Stores, Fertitta's stuff (Golden Nugget, Landry's etc.), Francesca's, Charming Charlie, Men's Warehouse, among others.

Sysco Foods is here.

NASA and related activities (not so much in growth mode, essentially stagnant but could ramp up again).

Hewitt Consulting, along with other professional services firms.

UH and Rice.

Just some examples. None of these sectors produces the massive influx of white-collar jobs that upstream O&G does when it's booming, but they're also generally less cyclical.

Nevertheless, I'm a bit jealous of DFW, which is pretty much the epitome of a diversified economic base - though it's not the world capital of anything.
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Old 05-27-2016, 01:26 PM
 
26,208 posts, read 21,716,461 times
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Here is a fairly good up to date read from uofh on the Houston economy and it talks about the different sectors

Houston Economy in 2016: No Recovery in Oil Markets Brings Another Slow Year
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Old 05-27-2016, 01:46 PM
 
10,097 posts, read 10,054,194 times
Reputation: 5225
Quote:
Originally Posted by LocalPlanner View Post
We have downstream petrochemicals, which is a pretty different portion of the O&G spectrum and is undergoing to biggest investment boom of my lifetime right now, focused in the Baytown / Mt. Belvieu and Brazosport areas.

Some retail and hospitality corporations have their headquarters and administration here. Stage Stores, Fertitta's stuff (Golden Nugget, Landry's etc.), Francesca's, Charming Charlie, Men's Warehouse, among others.

Sysco Foods is here.

NASA and related activities (not so much in growth mode, essentially stagnant but could ramp up again).

Hewitt Consulting, along with other professional services firms.

UH and Rice.

Just some examples. None of these sectors produces the massive influx of white-collar jobs that upstream O&G does when it's booming, but they're also generally less cyclical.

Nevertheless, I'm a bit jealous of DFW, which is pretty much the epitome of a diversified economic base - though it's not the world capital of anything.
Last rankings on the global cities index has Dallas ahead of Houston in the Beta + category. And yes Dallas had the big city diversified economy on lock. SA I think is more diverse but it's just not a world renown city. Houston has taken a dip and Dallas is on an upswing. Their urban development has been amazing.
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Old 05-27-2016, 04:14 PM
 
Location: Beautiful Northwest Houston
6,301 posts, read 7,546,173 times
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Quote:
Originally Posted by radiolibre99 View Post
Last rankings on the global cities index has Dallas ahead of Houston in the Beta + category. And yes Dallas had the big city diversified economy on lock. SA I think is more diverse but it's just not a world renown city. Houston has taken a dip and Dallas is on an upswing. Their urban development has been amazing.
Different "list" show different results , look at page 2 of this pdf link and you will find a graph titled Global Cities Outlook (future potential)

https://www.atkearney.com/documents/...0-048925997ac4

It shows Houston 6th on a list of global cities with San Francisco, London, Boston, New York and Zurich ahead of Houston and with no other Texas cities on the list of 25.

So you look at your list and I will refer to mine OK?
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Old 05-27-2016, 06:42 PM
 
10,097 posts, read 10,054,194 times
Reputation: 5225
Quote:
Originally Posted by Jack Lance View Post
Different "list" show different results , look at page 2 of this pdf link and you will find a graph titled Global Cities Outlook (future potential)

https://www.atkearney.com/documents/...0-048925997ac4

It shows Houston 6th on a list of global cities with San Francisco, London, Boston, New York and Zurich ahead of Houston and with no other Texas cities on the list of 25.

So you look at your list and I will refer to mine OK?
But that list is about a city's future potential. The Global Cities Index List I cited is about how the cities stack up now. As of now, Dallas is a few notches above Houston. The list you cited even takes into account the list I cited.
The rest of your list is speculative. It's based on rate of change in personal well being, economics, inovation and governance. That all can change as we have seen in the dip in oil prices which has slowed Houston's gravy train a bit.

Dallas is still going and going strong. It's wooing tech and diversifying faster than Houston. I prefer Houston to Dallas because it's my home city but I have to give it up to Dallas when I can because I am first and foremost about the state coming up.
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Old 05-27-2016, 06:43 PM
 
1,011 posts, read 982,308 times
Reputation: 1557
Quote:
Originally Posted by Jack Lance View Post
Different "list" show different results , look at page 2 of this pdf link and you will find a graph titled Global Cities Outlook (future potential)

https://www.atkearney.com/documents/...0-048925997ac4

It shows Houston 6th on a list of global cities with San Francisco, London, Boston, New York and Zurich ahead of Houston and with no other Texas cities on the list of 25.

So you look at your list and I will refer to mine OK?
Uhhh, Jack, I hate to rain on your parade but Houston isn't even in the top 25 on the list you cited. It's 6th only on unrealized potential.
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Old 05-27-2016, 06:53 PM
 
Location: Houston, TX
1,659 posts, read 1,254,749 times
Reputation: 2735
Quote:
Originally Posted by radiolibre99 View Post
People are always saying this but what else is Houston in? Medical? Ports/shipping? It can't be that much more.
Cheap oil made for a massive petrochemical boom. Kingwood, Clear Lake, Mont Belvieu and even the inner loop are hot and will be until 2018 due to this alone.
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Old 05-27-2016, 07:07 PM
 
10,097 posts, read 10,054,194 times
Reputation: 5225
Quote:
Originally Posted by detachable arm View Post
Cheap oil made for a massive petrochemical boom. Kingwood, Clear Lake, Mont Belvieu and even the inner loop are hot and will be until 2018 due to this alone.
Nice! I want Houston to diversify even more. Any way Houston can attract some tech companies?
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