eyes on the ion

Microsoft announces lease in rising Houston innovation hub

Microsoft has announced it will be leasing space in The Ion. Courtesy of Rice University

Microsoft and Rice Management Company — the owner and management of The Ion, a rising innovation hub in Houston — announced that the tech company will be leasing space on the 288,000 square-foot building's fifth floor.

"Over the last several years, Microsoft has made it clear it is committed to Houston," says Mayor Sylvester Turner in a press release. "With the work Microsoft is already doing with the City and The Ion to support entrepreneurs, workforce development and energy transition, it is only fitting its new home should be in our City's hub for innovation. This news is an exciting next step in our partnership with Microsoft as we continue to grow Houston's innovation ecosystem and become a leader in the global energy transition."

Microsoft has an existing partnership with The Ion and is a founding sponsor of its Smart and Resilient Cities Accelerator. Earlier this year, the technology leader has also committed $1 million to skills programming.

"The Ion is fast becoming a hub for Houston's startup community and driving forward innovation in energy transition technologies," says Ravi Krishnaswamy, corporate vice president of Azure Global Industry at Microsoft, in the release. "My team and I are excited to get to work there, supporting Microsoft's vision of powering a sustainable future and accelerating energy transition with the expertise of partners, customers, and industry."

According to the press release, Microsoft will also be a programming partner for The Ion and will host advancement opportunities and events, including a monthly executive forum and virtual symposiums, and support future accelerators for advanced manufacturing, digital skilling, and smart and resilient city innovation.

"The Ion and Microsoft will provide the necessary tools and knowledge needed to become more resilient, strengthen our workforce and create new innovations to accelerate the energy transition," says Jan E. Odegard, interim executive director, in the release. "We were delighted this summer when we announced Microsoft's sponsorship of The Ion programming and are now even more ecstatic to welcome a division of Microsoft to its new home. My team and I look forward to showcasing our great programs that are enabled by corporate sponsors like Microsoft to the entrepreneurs, academics, corporations and community in Houston and around the world."

Microsoft's partnership with The Ion, which is set to open in just a few months, is due in part to the city's collaboration with Microsoft.

"Having Microsoft as a major tenant is a huge step forward in realizing the vision for The Ion as a dynamic hub bringing together key elements of innovation in Houston," Rice President David Leebron says in the release. "We are very grateful to Microsoft and Mayor Turner for advancing this vision."

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Building Houston

 
 

A new report finds Houston a top city for business friendliness and connectivity. Photo via Getty Images

Houston, the future looks bright.

A new study from the fDi Intelligence division of the Financial Times places Houston at No. 7 among the top major cities of the future for 2021-22 across North, South, and Central America. Among major cities in the Americas, Houston appears at No. 3 for business friendliness and No. 4 for connectivity.

"Houston is known as one of the youngest, fastest-growing, and most diverse cities anywhere in the world. I am thrilled that we continue to be recognized for our thriving innovation ecosystem," Houston Mayor Sylvester Turner is quoted as saying in the fDi study.

Toronto leads the 2021-22 list of the top major cities in the Americas, followed by San Francisco, Montreal, Chicago, and Boston.

The rankings are based on data in five categories:

  • Economic potential
  • Business friendliness
  • Human capital and lifestyle
  • Cost effectiveness
  • Connectivity

Houston's no stranger to the list. Last year, the city ranked No. 3 on the same study, and in 2019, claimed the No. 5 spot.

"The fact that Houston consistently ranks among the top markets for foreign direct investment speaks to our region's connectivity and business-friendly environment," says Susan Davenport, chief economic development officer at the Greater Houston Partnership. "Many of the industry sectors we target for expansion and relocation in Houston are global in nature — from energy 2.0 and life sciences to aerospace and digital tech. The infrastructure and diverse workforce that make these prime growth sectors for us among domestic players are equally attractive to international companies looking to establish or strengthen ties in the Americas."

International trade is a cornerstone of the Houston area's economy. In 2020, the region recorded $129.5 billion in exports, according to the Greater Houston Partnership. China ranked as the region's top trading partner last year, followed by Mexico, Brazil, Korea, Germany, the Netherlands, India, Japan, the United Kingdom, and Italy.

Houston's role as a hub for foreign trade and international business "is likely to support the region's economic recovery in the months and years ahead," the partnership noted in May.

"We talk often of Houston as a great global city — one that competes with the likes of London, Tokyo, São Paulo, and Beijing. But that's only possible because of our infrastructure — namely our port — and our connections around the world," Bob Harvey, president and CEO of the partnership, said last month. "Houston's ties abroad remain strong."

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