Onward and upward

Here is how Houston will fare after the infamous Amazon snub, says expert

Houston's moving on from one of 2018's biggest let downs. Photo by Tim Leviston/Getty Images

Who needs Amazon.com Inc.'s second headquarters? That's the sentiment of the head honcho of The Woodlands master-planned community, who believes Houston represents a "great financial opportunity."

"Houston still has a great run ahead of us," the executive, says Paul Layne, at a luncheon hosted by the Houston chapter of the Urban Land Institute (ULI). "Generally speaking, Houston is in good shape for next year."

"We have not done a fantastic job of attracting major corporations moving here, for a whole host of reasons," Layne notes. "We had hurricanes and we've had a number of issues that kind of scare people off."

"But generally speaking," he adds, "we are a low-priced, fantastic community, a great place to raise a family — probably the most friendly city in the country. Companies love that. We don't have to get the Amazons, we don't have to get the major corporations. We're doing great with internal [job] growth."

Layne is Central Region president of The Howard Hughes Corp., a Dallas-based real estate developer that owns The Woodlands, a 28,000-acre, master-planned community. Layne, a longtime commercial real estate executive in Houston, joined Howard Hughes in 2012. Aside from The Woodlands, he oversees Bridgeland, an 11,400-acre, master-planned community in Cypress, as well as developments in Maryland and Nevada.

While Houston needs to improve its education and transportation systems, it offers the ability to develop high-density real estate at a reasonable cost "with a great quality of life," Layne notes.

Speaking as part of a ULI panel at the Junior League of Houston, Layne emphasized the Houston area's healthy job growth. In October, the region added 117,800 jobs, up 3.9 percent from the same period last year, according to the U.S. Bureau of Labor Statistics.

In October, a daily average of 4,188 job openings were listed in Houston — more than any other place in Texas. That's according to a review by data-mining company Thinkum of online job postings at thousands of companies.

Among the country's 12 largest metro areas, Houston ranked first for both the number of jobs added in one year and the annual rate of job growth, the bureau reported November 23.

Those figures show the Houston area has rebounded from Hurricane Harvey and the energy slump, both of which depressed the region's job growth.

Houston was one of 238 communities that bid on the second headquarters of Amazon, the Seattle-based e-commerce giant. Houston failed to make Amazon's list of 20 finalists for what's known as Amazon HQ2. Austin and Dallas were the only Texas contenders among the 20 finalists. Amazon decided last month to split HQ2 — and its 50,000 jobs — between Northern Virginia and Long Island City, New York.

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This story originally appeared on CultureMap.

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Building Houston

 
 

You can now hop online and invest in this promising cell therapy startup. Photo via Getty Images

A clinical-stage company headquartered in Houston has opened an online funding campaign.

FibroBiologics, which is developing fibroblast cell-based therapeutics for chronic diseases, launched a campaign with equity crowdfunding platform StartEngine. The platform lets anyone — regardless of their net worth or income level — to invest in securities issued by startups.

The funding, according to a press release, will be used to support ongoing operations of Fibrobiologics and advance its clinical programs in multiple sclerosis, degenerative disc disease, wound care, extension of life, and cancer.

"We're excited to partner with StartEngine on this campaign. StartEngine has over 600,000 investors as part of their community and has raised over half a billion dollars for its clients," says FibroBiologics' Founder and CEO Pete O'Heeron, in the release.

"This is an exciting time at FibroBiologics as we continue progressing our clinical pipeline and developing innovative therapies to treat chronic diseases," he continues. "This new funding will fuel our growth in the lab and bring us one step closer to commercialization."

The campaign, launched this week, already has over 100 investors, at the time of publication, and has raised nearly $2 million, according to the page. The minimum investment is set at around $500, and the company's indicated valuation is $252.57 million.

In 2021, FibroBiologics announced its intention of going public. Last year, O'Heeron told InnovationMap on the Houston Innovators Podcast of the company's growth plans as well as the specifics of the technology.

Only two types of cells — stem cells and fibroblasts — can be used in cell therapy for a regenerative treatment, which is when specialists take healthy cells from a patient and inject them into a part of the body that needs it the most. As O'Heeron explains in the podcast, fibroblasts can do it more effectively and cheaper than stem cells.

"(Fibroblasts) can essentially do everything a stem cell can do, only they can do it better," says O'Heeron. "We've done tests in the lab and we've seen them outperform stem cells by a low of 50 percent to a high of about 220 percent on different disease paths."


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