job juggernaut

Hardworking Houston clocks in as top-10 U.S. labor market, report says

Workers here earn their keep. Photo by Tom Werner/Getty Images

Houston is proving its worth as a robust employment center.

A new report from Dallas-based ThinkWhy, a producer of talent intelligence software, ranks the Bayou City No. 8 overall in the top-performing labor markets in the country.

The Greater Houston area scored highly in net migration, job gain, and college degree holders, per ThinkWhy's LaborIQ Market Index.

Meanwhile, Houston is expected to fully recover jobs lost to the pandemic by 2023, the report adds.

Elsewhere in Texas, Dallas-Fort Worth clocks in as the No. 1 metro labor market, Austin comes in at No. 3, and San Antonio at No. 24. The most recent index is based on 10 key economic indicators from September for 150 metro areas.

"All four of Texas' major metros — which rank among the largest in the country — are expected to remain top-performing metros for an extended period. Due to the sheer size of these labor markets, their recovery will significantly impact the national economy," ThinkWhy says.

In August, Austin became one of the three largest metros — along with Salt Lake City and Phoenix — to recover all jobs lost to the pandemic, according to ThinkWhy. DFW and San Antonio are set to join those ranks 2022, with Houston expected to fully recover lost jobs in 2023.

"Retention of talent will be a major risk for businesses the remainder of this year," Jay Denton, chief labor market analyst at ThinkWhy, says in a news release. "With a record number of job openings, businesses are trying different methods to retain and attract employees, and compensation has been a critical part of that equation."

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This article originally ran 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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