Global city

Houston sees boom of foreign investment and exports over the past decade

A new report from the Greater Houston Partnership found that Houston saw over $33 billion in foreign investments over the past 10 years. Photo by Scott Halleran/Getty Images

Throughout the past decade, over 500 foreign-owned companies from 36 countries have planned investments in Houston. The investments are spread across more than 600 deals within 63 industries in Houston. Adding up the amount of disclosed valuations, the total exceeds $33 billion.

The city has a lot to offer these companies from all over the world, says Greater Houston Partnership's senior vice president of research, Patrick Jankowski, in a release.

"These foreign-owned companies came to Houston for a variety of reasons, from being closer to their clients to establishing a beachhead for entering the U.S. market," Jankowski says in the release.

The information is compiled in the new Global Houston report from the GHP that analyzes data on foreign investment over the past decade. The research shows that now

The foreign investment movement greatly impacts the local economy, Jankowski adds.

"It infuses new capital into the region, expands the manufacturing base, helps underpin jobs, facilitates the exchange of ideas and best practices, increases trade, adds to the tax base and stimulates growth," he says.

Aside from the investments, the report found that locally, more than 2,500 Houston manufacturing firms have their hands in global trade. Around 17.3 percent of Houston's economy is related to exports, which amounts to double than what was recorded in 2003, according to the Brookings Institution. The Bayou City regularly leads the nation in exports, such as oil field services, refined products, chemicals, and fabricated metals.

The report also took into account Houston's diversity, which has also evolved over the past 10 years. About one in four residents are born outside the country, and a third of the population growth is attributed to immigrants — who account for 390,000 of the city's new residents. In 2017 alone, foreign-born Houstonians made up almost a third of the total GDP of Houston, or $142.1 billion.

"Over the last couple of decades, Houston's economy has become more diversified," says Bob Harvey, GHP president and CEO, in a news release. "We've surged beyond traditional oil and gas to include a burgeoning energy tech and renewables industry, a thriving life sciences and healthcare sector, and a robust advanced manufacturing ecosystem. And in that time, as this report shows, Houston's trade and investment ties with the rest of the world have grown as well. These global connections are essential to our long-term success."

In 2018, Houston's top five trade partners all increased activity. The top countries are, Mexico ($24.6 billion in 2018, compared to $20.1 billion in 2017), China ($20.3 billion, compared to $18.8 billion in 2017), Brazil ($12.9 billion, compared to $12.6 billion in 2017), The Netherlands ($10.4 billion, compared to $8.6 billion in 2017), and South Korea ($10.3 billion, compared to $6.8 billion in 2017).

By the numbers

Here are some key findings from the report.

  • The Houston/Galveston Customs District handled 289.2 million tons of cargo in 2018, or 33,000 metric tons every hour.
  • The Houston/Galveston Customs District ranked first in the nation in foreign tonnage handled and 7th in the nation by dollar value in 2018.
  • The three ports of Houston, Galveston and Freeport support 343,525 jobs, according to a report from Martin & Associates and Texas A&M University
  • Of Houston's 1.6 million foreign-born residents, 39.8 percent are naturalized (i.e. U.S. citizens). That's up from 32.3 percent a decade ago.
  • Latin America leads among regions of origin for Houston's foreign-born population with 1.02 million people in 2017, up 42 percent from 2008. Asia follows at 409,395, up 37 percent and Africa with 95,017, a 14 percent increase.

Trending News

Building Houston

 
 

Five research teams are studying space radiation's effect on human tissue. Photo via NASA/Josh Valcarcel

A Houston-based organization has named five research projects to advance the understanding of space radiation using human tissue. Two of the five projects are based in Houston.

The Translational Research Institute for Space Health, or TRISH, is based at Baylor College of Medicine and funds health research and tech for astronauts during space missions. The astronauts who are headed to the moon or further will be exposed to high Galactic Cosmic Radiation levels, and TRISH wants to learn more about the effects of GCR.

"With this solicitation, TRISH was looking for novel human-based approaches to understand better Galactic Cosmic Rays (GCR) hazards, in addition to safe and effective countermeasures," says Kristin Fabre, TRISH's chief scientist, in a news release. "More than that, we sought interdisciplinary teams of scientists to carry these ideas forward. These five projects embody TRISH's approach to cutting-edge science."

The five projects are:

  • Michael Weil, PhD, of Colorado State University, Colorado — Effects of chronic high LET radiation on the human heart
  • Gordana Vunjak-Novakovic, PhD of Columbia University, New York — Human multi-tissue platform to study effects of space radiation and countermeasures
  • Sharon Gerecht, PhD of Johns Hopkins University, Maryland — Using human stem-cell derived vascular, neural and cardiac 3D tissues to determine countermeasures for radiation
  • Sarah Blutt, PhD of Baylor College of Medicine, Texas — Use of Microbial Based Countermeasures to Mitigate Radiation Induced Intestinal Damage
  • Mirjana Maletic-Savatic, PhD of Baylor College of Medicine, Texas — Counteracting space radiation by targeting neurogenesis in a human brain organoid model

The researchers are tasked with simulating radiation exposure to human tissues in order to study new ways to protect astronauts from the radiation once in deep space. According to the release, the tissue and organ models will be derived from blood donated by the astronaut in order to provide him or her with customized protection that will reduce the risk to their health.

TRISH is funded by a partnership between NASA and Baylor College of Medicine, which also includes consortium partners Caltech and MIT. The organization is also a partner to NASA's Human Research Program.

Trending News