IAH'S BiG DROP

Major Houston airport lands on list of hardest hit during the pandemic

Bush Intercontinental has seen a massive drop in travelers since the pandemic. Photo courtesy of Houston Airport System

Since the World Health Organization announced the COVID-19 as a global pandemic on March 11, few industries have slowed as dramatically as air travel. Airlines made massive cuts in services and jockeyed for government assistance. Some, such as United, announced furloughs of up to 45 percent of its U.S. based workers, some 36,000 employees.

Local airports such as George Bush Intercontinental witnessed a staggering drop in travelers.

Just how bad is the hit? Finance website FinanceBuzz crunched the numbers from the U.S. Bureau of Transportation to determine the pandemic's effect on the 30 busiest airports in the nation. The site examined the number of departing passengers on domestic flights from June 2019 and compared them to June of this year.

Houston's Bush Intercontinental (IAH) saw a dramatic decrease in traffic of 82.83 percent, according to FinanceBuzz. June 2019 saw 1,473,575 departing passengers, compared to just 253,036 in June of this year. That drop puts IAH at No. 13 in the top 15 airports with the biggest traffic drops in the U.S.

For some perspective, the airport with the biggest plunge is New York City's LaGuardia, which saw 1,281,848 travelers depart in June 2019, while a paltry 133,272 departed this June, for a 89.60 percent drop.

But it's not all gloom and doom for Texas airports. FinanceBuzz also looked at airports making the best recovery from April to June of this year. Overall, Dallas-Fort Worth International Airport saw the biggest increase in departing passengers, with 190,038 flying out in April 2020 and a whopping 998,875 flying out in June, for a jump of 425.62 percent.

The airport with the fastest recovery? That title goes to Chicago Midway International Airport, which saw 30,693 departures in April and 338,884 in June, for a leap of 1004.11 percent.

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This article originally ran on CultureMap.

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Building Houston

 
 

Capital Factory's Houston HQ will be in The Ion. Photo courtesy of The Ion

A company that supports entrepreneurship and startups across the Lone Star State with mentorship and funding has announced its new homebase in Houston.

Capital Factory has revealed a new programming partnership with The Ion. Through the collaboration, Capital Factory will host programming, events, and resources within the innovation hub to grow, educate, and support Houston-based startups and entrepreneurs.

"Capital Factory's presence at The Ion will further expand the opportunities for startups and innovators in the Houston region, while strengthening an important pillar of the Texas Startup Manifesto," says Joshua Baer, founder and CEO of Capital Factory, in a news release.

Capital Factory was founded in Austin in 2009 and boosts on being the most active investor in Texas, deploying smaller investments to a multitude of early-stage startups. According to Crunchbase's data, the entity has invested in over 160 companies with 20 exits. Capital Factory officially entered the Houston market in 2019 and doubled down its presence last year when it merged with Station Houston.

Now, with its Houston headquarters moving into The Ion, the two innovation partners will take an inclusive approach to creating connections between innovators, mentors, investors, and markets, per the release.

"We are thrilled to have Capital Factory as a programming partner at The Ion" says Jan E. Odegard, executive director of The Ion, in the release. "The Ion seeks to work with key partners and established brands to help build a rich and inclusive set of startup services that can support all innovators and startups wherever they are in their entrepreneurial journey. Capital Factory brings a proven track record for providing entrepreneurs with services and investments that brings great value not only to The Ion ecosystem, but also to the entire Houston innovation ecosystem."

Capital Factory's first event at The Ion will be Open Coffee on November 16th followed by Open Coworking all day, Baer adds in his statement.

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