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Houston expert: The Astrodome should be reimagined for the future of the energy industry

A Houston real estate expert suggests that the icon that is the Astrodome should be restored to be used for energy conferences and other business needs. Photo courtesy of the city of Houston

Over the past several years, there's been a continuous conversation about the iconic Astrodome and what should be done with it. Dubbed the "Eighth Wonder of the World," Houstonians certainly don't want to see the Astrodome go, as it is a landmark deeply embedded into the hearts and minds of our beloved city.

Ideas have been thrown around, yet none of them seem to stick. The $105 million county-approved plan to renovate and build a multi-story parking garage that was approved under Judge Ed Emmett's court in 2018 has been placed on hold until further notice.

For the betterment of business

Houston is famously known as the world capital of the international energy industry, petroleum exploration, space exploration, medical communities and vast port systems across the Gulf. Our city hosts the annual Offshore Technology Conference, one of the largest oil and gas trade shows in the world, which features the industry's latest technology, products, networking opportunities, and more.

On average, more than 59,000 people attend OTC annually, with more than 15,000 attendees visiting from outside the U.S. In addition, Houston is also headquarters to more than 500 oil and gas exploration and production companies and has 10 refineries producing over 2.6 million barrels of crude oil daily.

Houston is a prime location to become a candidate for a new commodity exchange center housed inside the Astrodome. The current New York Mercantile Exchange, a commodity futures exchange owned and operated by CME Group of Chicago, is located in Manhattan, New York City. There are additional offices located in Boston, Washington, Atlanta, San Francisco, Dubai, London, and Tokyo. Surprisingly, Houston is not on that list. The NYMEX division handles billions of dollars' worth of futures and options contracts for energy products such as oil and natural gas.

Renovating and repurposing

Scalability is important to consider when discussing the repurposing of the Astrodome. Oil and gas is the only industry that could support the Astrodome's expenses and generate a profit. Other options such as turning it into a parking garage or a hike and bike trail would not be sufficient. Moving something as significant as the oil and gas futures exchange to Houston would provide NRG with the necessary monthly residual income to sustain the beloved Astrodome.

Another viable option would be to host the annual Offshore Technology Conference at the Astrodome. Oil and gas companies would set-up year-round exhibits on the floor of the Astrodome for convenience, providing an opportunity to showcase their equipment and product to potential clients.

To further capitalize on this concept, the Astrodome would offer corporate suite rentals for oil and gas companies to lease in order to provide a meeting space for people flying in and out of town. While the equipment and product would be on the floor for people to look at, NRG could bring in additional rental income from the suites.

To maintain the iconic nature of the building, signage would hang on the outside of the Astrodome, featuring the top oil and gas company's logos and placing a pump jack on top of it to emulate an oil rig.

The beauty of all of this is the simplicity of it. The hard part is done. Houston has become the oil and gas capital of the world over the last 100 years. The easy part is ahead; filling the Astrodome with oil and gas companies that want to do business.

Your move, Houston.

The first step toward making an endeavor like this possible is simply suggesting that it is. There's no need to fix what's already working in New York. We can use the same business model, bring it down to our great city, put the Astrodome back to good use, and truly become the petrochemical exchange capital of the world.

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Frank Blackwood is the senior director of Lee & Associates - Houston.

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Building Houston

 
 

After working with thousands of interns, Allie Danziger of Ampersand Professionals says she's now got a product to upskill and train new hires for employers. Photo courtesy of Ampersand

After seeing success with her internship training and matchmaking platform, Allie Danziger, founder and CEO of Ampersand Professionals, has expanded the concept to include a new hire training service that allows employers to better optimize the onboarding process and have a well-trained new staff member from day one.

In just over a year, Ampersand has worked with over 7,000 professionals through its original concept of upskilling and matching young professionals to internship programs. A few months ago, Danziger and her team expanded to include career development training for students first entering the workforce with the City of Houston's Hire Houston Youth program. Danziger says it was developing out the platform for this program that proved there was a need for this type of training.

"While we have focused on matching professionals with businesses for paid internships, we recognized a further gap with employers that have their own recruiting/talent acquisition teams, or just their own preferred way of bringing on entry-level talent, and didn’t have a need for our matching platform," Danziger tells InnovationMap. "But, they recognized the benefit of our proven training platform that pre-vets and de-risks their hires, and still wanted access to the training for their own hires."

The new program has evolved from training interns to new hires, so parts of the program that focuses on interviewing or applying for a job have been removed. Instead, the 8.5 hours of training focuses on networking, best practices for working with a manager and team, performance reviews, common software training, and more.

Danziger says usually new hires need the most experienced mentor or manager, but they don't usually get that support — especially when it comes to businesses that don't have their own built-out mentorship or training program.

"Ampersand’s new training product fills that gap — it gives employers of any size any easy solution to provide basic job readiness training to employees, access to our team of dedicated coaches, and a detailed report at the end of their training summarizing how their new hire did in the training and any trends recognized and tips for managing this employee based on what the platform uncovered," she says. "Businesses can also sign up for additional coaching sessions and customize training materials, as an add-on if interested."

The program costs the employer $100 per new employee, and checkout online takes less than a minute. Through both this program and the original internship program, Ampersand is constantly evolving its training content.

"These professionals are going through the same training experience that we have proven out over the last year, and we are constantly adding to based on data we see in the user experience," Danziger says.

Danziger recently joined the Houston Innovators Podcast discuss some of the benchmarks she's met with Ampersand, as well as the importance of investing in Gen Z hires. Listen to that episode below.


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