shore enough

Houston's coastal neighbor named No. 2 in Texas for small business

Galveston is a great place to start a small business. Photo courtesy of Galveston Island Visitors & Convention Bureau

Given the multi-tiered economy of Houston and population explosion in Austin, it might be easy to consider these two cities and counties the tops in Texas for small business. However, a new report lists a somewhat surprising county as second overall for small and growing companies.

Personal finance website Smart Asset ranks Galveston County the No. 2 place in Texas for small business owners. Nationally, Galveston County lands at an impressive No. 5.

Little wonder, given the tourism power Galveston County generates. Consider that visitors to Galveston Island spent $883 million in 2019, which generated $1.2 billion in total business sales, including indirect and induced impacts, according to a report on the county's economic impact.

Such impact also means companies were hiring: A total of 11,542 jobs were sustained by visitors to Galveston Island in 2019. This included 8,930 direct and 2,612 indirect and induced jobs, the report adds. That visitor spending directly supported 8,930 jobs in 2019, representing 27 percent of total employment in Galveston Island.

To come up with its list, the website examined federal data to zero in on three factors: the number of small businesses operating in each county, how much income they generate, and what they pay in taxes.

Smart Asset then weighed each set of data to develop an index score, with 100 being the top number. Galveston posted 42.62 percent in small business returns, 18.06 percent in small business income, and average of $7,633 in income taxes, and an overall score of 94 in the study’s small business index.

Elsewhere in Texas, Dallas County ranks top in Texas for small business owners and No. 4. in the U.S.

Courtesy of Smart Asset, here’s the rest of this year’s top 10 counties in Texas for small business owners:

  • Galveston County, No. 2 in the state and No. 5 nationally.
  • Haskell County (north of Abilene), No. 3 in the state and No. 6 nationally.
  • Titus County (east of Sulphur Springs), No. 4 in the state and No. 8 nationally.
  • Matagorda County (east of Victoria), No. 5 in the state and No. 9 nationally.
  • Goliad County (west of Victoria), No. 6 in the state (not in national top 10).
  • Glasscock County (east of Midland), No. 7 in the state (not in national top 10).
  • Stonewall County (northwest of Abilene), No. 8 in the state (not in national top 10).
  • Brooks County (north of McAllen), No. 9 in the state (not in national top 10).
  • Midland County (Midland metro area), No. 10 in the state (not in national top 10).
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This article originally ran on CultureMap.

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Building Houston

 
 

Catch up on two big pieces of news landing at the Houston Spaceport. Image via fly2houston.com

The Space City is starting 2022 off strong with news launching out of the Houston Spaceport — a TK-acre space in TK Houston.

The two big headlines include a unicorn company releasing the latest details of its earthbound project and fresh funds from the state to support the space ecosystem in Texas.

Governor Abbott doles out $10M in spaceport grants

Texas has launched fresh funding into two spaceport projects. Image via fly2houston.com

Last week, Gov. Greg Abbott announced $10 million in funding to two Texas spaceports as a part of the state's Spaceport Trust Fund. The Houston Spaceport Development Corp. received $5 million and the Cameron County Spaceport Development Corp. received $5 million.

The fund is administered by the Governor's Office of Economic Development and Tourism and was created to support the development of spaceport infrastructure, create quality jobs, and attract continuing investments that will strengthen the economic future of the state, according to a news release.

"For decades, Texas has been a trailblazer in space technology and we are proud to help cultivate more innovation and development in this growing industry in Cameron and Harris County," says Abbott in the release. "This investment in the Cameron County and Houston Spaceport Development Corporations will create even more economic opportunities for Texans across the state and continue our legacy as a leader in space technology."

Axiom Space hires Dallas-based architecture and engineering firm

Axiom Space has made progress on developing its 14-acre headquarters. Image via axiomspace.com

Houston-based unicorn Axiom Space has announced that it awarded Dallas-based Jacobs the architecture and engineering phase one design contract. The firm will be working on the 100,000-square-foot facility planned for the 400-acre Houston Spaceport at Ellington Airport.

Axiom Space's plans are ro build the first commercial space station that will provide a central hub for research, to support microgravity experiments, manufacturing, and commerce in low Earth orbit missions, according to a news release.

"This is an exciting and historic moment for Axiom and the greater Houston area," says Axiom CTO Matt Ondler in the release. "For the first time, spacecraft will be built and outfitted right here in Houston, Texas. This facility will provide us with the infrastructure necessary to scale up operations and bring more aerospace jobs to the area. With this new facility, we are not only building next generation spacecraft, but also solidifying Houston as the U.S. commercial industry's gateway to space."

Axiom Space, which raised $130M in venture capital last year, is building out its 14-acre headquarters to accommodate the creation of more than 1,000 high-paying jobs, from engineers to scientists, mathematicians, and machinists.

"Houston is a city built on innovation and is becoming a next-generation tech hub in the United States," says Ron Williams, senior vice president at Jacobs. "Privately funded infrastructure will drive U.S. leadership in space. Jacobs is committed to providing integrated solutions to accelerate the future of commercial space operations."

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