With boost from Houston, Texas is the No. 1 state for economic development

governor's cup

Texas is being hailed as “a dynasty in economic development." Photo via Getty Images.

Texas is on a 14-year winning streak as the top state for attracting job-creating business location and expansion projects.

Once again, Texas has claimed Site Selection magazine’s Governor’s Cup. This year’s honor recognizes the state with the highest number of economic development projects in 2025. Texas landed more than 1,400 projects last year.

Ron Starner, executive vice president of Site Selection, calls Texas “a dynasty in economic development.”

Among metro areas, Houston lands at No. 2 for the most economic development projects secured last year (590), behind No. 1 Chicago and ahead of No. 3 Dallas-Fort Worth.

In praising Houston as a project magnet, Gov. Greg Abbott cites the November announcement by pharmaceutical giant Lilly that it’s building a $6.5 billion manufacturing plant at Houston’s Generation Park.

“Growth in the Greater Houston region is a great benefit to our state’s economy, a major location for foreign direct investment and key industry sectors like energy, aerospace, advanced manufacturing, and life sciences,” Abbott tells Site Selection. “Houston is also home to one of the largest concentrations of U.S. headquarters for companies from around the world.”

In 2025, Fortune ranked Houston as the U.S. city with the third-highest number of Fortune 500 headquarters (26).

Texas retained the Governor’s Cup by gaining over 1,400 business location and expansion projects last year, representing more than $75 billion in capital investments and producing more than 42,000 new jobs.

Site Selection says Texas’ project count for 2025 handily beat second-place Illinois (680 projects) and third-place Ohio (467 projects). Texas’ number for 2025 represented 18% of all qualifying U.S. projects tracked by Site Selection.

“You can see that we are on a trajectory to ensure our economic diversification is going to inoculate us in good times, as well as bad times, to ensure our economy is still going to grow, still create new jobs, prosperity, and opportunities for Texans going forward,” Abbott says.

From Your Site Articles
Plug and Play is opening a Sugar Land hub to accelerate startups and innovation across smart cities, energy, health, and mobility sectors. Photo courtesy of Plug and Play

West Coast innovation organization unveils new location in Houston suburb to boost Texas tech ecosystem

plugging in

Leading innovation platform Plug and Play announced the opening of its new flagship Houston-area location in Sugar Land, which is its fourth location in Texas.

Plug and Play has accelerated over 2,700 startups globally last year with corporate partners that include Dell Technologies, Daikin, Microsoft, LG Chem, Shell, and Mercedes. The company’s portfolio includes PayPal, Dropbox, LendingClub, and Course Hero, with 8 percent of the portfolio valued at over $100 million.

The deal, which facilitated by the Sugar Land Office of Economic Development and Tourism, will bring a new office for the organization to Sugar Land Town Square with leasing and hiring between December and January. The official launch is slated for the first quarter of 2025, and will feature 15 startups announced on Selection Day.

"By expanding to Sugar Land, we’re creating a space where startups can access resources, build partnerships, and scale rapidly,” VP Growth Strategy at Plug and Play Sherif Saadawi says in a news release. “This location will help fuel Texas' innovation ecosystem, providing entrepreneurs with the tools and networks they need to drive real-world impact and contribute to the state’s technological and economic growth."

Plug and Play plans to hire four full-time equivalent employees and accelerate two startup batches per year. The focus will be on “smart cities,” which include energy, health, transportation, and mobility sectors. One Sugar Land City representative will serve as a board member.

“We are excited to welcome Plug and Play to Sugar Land,” Mayor of Sugar Land Joe Zimmerma adds. “This investment will help us connect with corporate contacts and experts in startups and businesses that would take us many years to reach on our own. It allows us to create a presence, attract investments and jobs to the city, and hopefully become a base of operations for some of these high-growth companies.”

The organization originally entered the Houston market in 2019 and now has locations in Bryan/College Station, Frisco, and Cedar Park in Texas.

Haleh Ardebili (left) has been appointed as assistant vice president of Entrepreneurship and Startup Ecosystem, and Michael Harold as assistant vice president for Intellectual Property and Industrial Engagements at the University of Houston. Photo via UH

University of Houston names new leaders within innovation, tech

appointments made

Two professors have assumed new leadership roles in the University of Houston’s Office of Technology, Transfer, and Innovation.

Haleh Ardebili, the Kamel Salama Endowed Professor of Mechanical Engineering, has been named assistant vice president of entrepreneurship and startup ecosystem. Michael Harold, Cullen Engineering Professor of Chemical and Biomolecular Engineering, has been named assistant vice president for intellectual property and industrial engagements.

Ardebili and Harold “are both tested leaders in their respective areas —they are already contributing to our rich academic environment with their knowledge, expertise and commitment to innovation,” says Ramanan Krishnamoorti, vice president for energy and innovation at UH, in a statement. “Having them helm our growing team will help UH continue its culture of innovation and contribution to society.”

In her new role, Ardebili will oversee entrepreneurship and startup efforts at UH. She will direct the startup and entrepreneurship staff within the Office of Technology, Transfer, and Innovation (OTTI).

Ardebili, who joined the university in 2004, previously was director of the Cullen College of Engineering’s Innovation and Entrepreneurship Initiative.

In his new role, Harold will lead the university’s technology transfer activities. He will direct the OTTI licensing and IP management staff.

Harold worked at DuPont in various technical and managerial positions between 1993 and 2000. He joined UH in 2000 as chair of the Department of Chemical Engineering. He served as chair until 2008 and again from 2013 to 2020.

“Both positions will play integral roles in increasing faculty engagement, facilitating innovations from research labs to market, and enhancing collaboration with internal and external stakeholders. These appointments underscore UH’s commitment to driving innovation, economic development, and industry partnerships,” the university says in the release.

Greentown Houston has received funding from the EDA. Photo via GreentownLabs.com

Houston energy tech startup incubator secures federal support to accelerate tech entrepreneurship

seeing green

Sixty organizations across the country have received a grant from the United States Department of Commerce — and one recipient is based in Houston.

Greentown Labs, dual located in Houston and Somerville, Massachusetts, has received a grant from the 10th cohort of the Economic Development Administration's “Build to Scale” program for its Houston location. The $53 million of funding was awarded to 60 organizations across 36 states, the District of Columbia, and Puerto Rico. All of the programs support technology entrepreneurs across industries.

“The Biden-Harris Administration is Investing in America to help create entrepreneurial ecosystems across the country and put quality, 21st century job opportunities in people’s backyards,” Secretary of Commerce Gina Raimondo says in the press release. “The ‘Build to Scale’ program will unlock innovation potential in regions all over the nation, improving our economic competitiveness now, and for decades to come.”

According to the EDA, Greentown, located in a growing innovation district, will receive $400,000 with a $400,000 local match confirmed. The project, named Houston Ion District Investor Activation, is described as a way to create economic opportunity through equitable capital access.

"This project capitalizes on the need for jobs and economic development, especially in communities most vulnerable to the impacts of natural disasters," reads the project abstract. "EDA funding will enable the expansion of Greentown’s Investor Program into EDIJ, in partnership with the Ion, to further climate equity and resilience in Houston and empower underrepresented entrepreneurs as the city transitions from fossil fuels to a clean energy economy."

Greentown receives of of the 2023 Capital Challenge Grant Recipients. The other competition, the Venture Challenge, also awarded funding to another Houston organization. The Urban Partnerships Community Development Corporation received $741,925 to support the BioWell Start Accelerator Program, which is committed to scaling of bio-industrial startups.

“EDA is proud to partner with this year’s ‘Build to Scale’ grantees as they fuel regional innovation hubs and technology-based economic development strategies throughout the U.S.,” Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo says in the release. “Investing in scalable startups and expanding access entrepreneurial capital will yield good-paying jobs, economic resiliency, and equitable growth in communities throughout America.”

------

This article originally ran on EnergyCapital.

Every stakeholder should be at the table: industry, city officials, businesses, and most importantly, the local community, to support the expansion of the local 5G network. Photo via Getty Images

Op-Ed: It's time for the greater Houston area to embrace connectivity

guest column

We live in a digital first world where the need for fast, reliable connectivity is not just something people want--it’s a necessity.

Connectivity plays a key role in every facet of life from economic development to public safety. Tomorrow’s innovations will rely on today’s infrastructure. That means cities and states must keep their eyes and efforts firmly fixed on the most up-to-date technology and prepare for modern wireless services, including 5G technology, the fifth-generation wireless system, in order to stay ahead of the curve.

Many of us have seen television commercials and internet ads touting the benefits 5G will bring, particularly as it relates to speed and reliability. But 5G is much more than speed. It will pave the way for innovation across a broad range of industries, injecting trillions into the global economy and ultimately changing the way we work, get around the city and live our lives. 5G connectivity will be able to process mass amounts of data with little to no latency, a requirement for the technology of tomorrow.

The economic impact will also be significant. A report from Accenture found that 5G will greatly benefit the Texas economy in the next five years, bringing Texas an estimated $235.8 billion in additional sales, $130.5B in new GDP and 1.35M in potential jobs.

Cities that embrace this coming technological boom will find themselves better prepared to tackle challenges and address the needs of their residents. Take public safety for example: 80 percent of 911 calls originate from mobile devices, which rely on a network of infrastructure – towers, small cells and fiber. 5G will enable seamless data transfer between first responders and dispatchers, including the exact location of a call as well as medical history to EMS. It will create a seamless network to properly communicate to other emergency services like fire and police departments. An estimated 10,000 lives could be saved each year if emergency response times were reduced by one minute.

Relevant to Pasadena are the transformations 5G will bring to healthcare and manufacturing. 5G is revolutionizing advanced training for medical professionals and allows more remote post-acute care and home-based models as well as enhanced communication between medical professionals. This will ultimately drive better patient outcomes and cost savings greater than 30 percent. 5G will also increase capacity and security for Pasadena’s wide variety of manufacturers, from chemicals to electronics to food and textiles, as well as create safer, smarter and more efficient processes that will drive continued innovation.

The full potential of 5G requires communications infrastructure–towers, small cells and fiber—and modernized regulations from local and state governments. Without the right infrastructure and policies in place, communities in Texas - like Pasadena - won’t have access to the innovative technology and benefits that 5G will embolden.

Research has found that 78 percent of Texans support their city leadership taking faster action to implement 5G technology. Yet Pasadena city officials have spent countless hours and financial resources since September 2020 fighting a lawsuit to prevent 5G installations in this community. Those dollars could have been spent on real community needs like infrastructure, utilities and public works. Pasadena is now behind its peers across the greater Houston area, where we have witnessed thousands of successful deployments of this necessary communications infrastructure. This puts Pasadena at a disadvantage as a great place to do business and improve the lives of residents.

It’s time for Pasadena to embrace the smart city infrastructure of the future. Other Texas cities like in Houston, Dallas and San Antonio, or even neighboring La Porte, have initiated smart policies that have encouraged connectivity in their communities as well as investments from industry. Unfortunately, Pasadena’s connectivity and infrastructure are being impeded by local politics. Every stakeholder should be at the table: industry, city officials, businesses, and most importantly, the local community, to support the expansion of the local 5G network.

------

Scott Dunaway is a spokesperson for the Texas 5G Alliance.

Things seem to be ever-so-slowly improving. Courtesy of Greater Houston Convention and Visitors Bureau

Houston's post-pandemic economy slowly creeping back, new study says

bouncing back

While COVID-19 cases are alarmingly surging in Texas, here in Houston, businesses are slowly returning to a new normal (for now). So, just how well is the Bayou City recovering economically from the pandemic, compared to other big-city counterparts around the United States and in Texas?

So-so, according to a revealing new report.

A new list, published July 29 by financial advice website SmartAsset, ranks the U.S. cities with the strongest economic recoveries from the pandemic.

SmartAsset looked at five data points for 49 of the largest U.S. cities to determine the economic winners:

  • Percentage change in consumer spending
  • Percentage change in small businesses that are open
  • Percentage change in small business revenue
  • Percentage change in job postings
  • March 2021 unemployment rate

Houston performed slightly better than the studywide average in three of the metrics, (although some of the numbers still look pretty bleak). The Houston stats are:

1. Change in consumer spending (January 2020-April 2021)

  • Houston: 11.7 percent
  • Studywide average: 7.3 percent

2. Change in small businesses open (January 2020-April 2021)

  • Houston: -34.5 percent
  • Studywide average: -32.51 percent

3. Change in small business revenue (January 2020-April 2021)

  • Houston: -36.6 percent
  • Studywide average: -30.9 percent

4. March 2021 unemployment rate

  • Houston: 10.6 percent
  • Studywide average: 6.6 percent

Elsewhere in Texas, The SmartAsset ranking puts Dallas at No. 19, and Fort Worth, at No. 11. Among the most populous cities in the SmartAsset study, Dallas ranks highest. Austin lands at No. 23 for pandemic economic recovery, with San Antonio at No. 38.

Only one other Texas city, El Paso, appears in the top 20 (No. 8). Salt Lake City, Utah tops the list.

University of Houston's Bauer College of Business recently analyzed Houston's pandemic recovery. In its report, the Bauer study notes a bigger bounce-back in the U.S. than Houston — and that oil and gas downturns selectively hurt Houston more than the rest of Texas.

In some good news, the Bauer study reports the biggest sectors that have the biggest recoveries: healthcare, retail, and food service.

------

This article originally ran on CultureMap.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Intuitive Machines lands $600M satellite deal, NASA ‘spacecraft bus’ contract

space deals

Houston-based space infrastructure company Intuitive Machines has scored two astronomical deals.

The deals add to the company’s soaring success. As of June 30, Intuitive Machines had a record-high $1.8 billion backlog of orders, a $1.5 billion increase from the end of last year. The current backlog includes orders for more than 80 spacecraft.

The company, which went public in 2023, expects this year’s revenue to total $900 million to $1 billion. In the first half of 2026, Intuitive Machines generated nearly $393 million in revenue.

Intuitive Machines estimates its total available market is valued at more than $150 billion.

$600 million-plus deal represents ‘important milestone’

On Monday, Intuitive Machines said it picked up a $600 million-plus deal to develop three commercial satellites for an undisclosed customer over the course of about two years.

Intuitive Machines says it will design, manufacture, set up and support several spacecraft “for a critical communications infrastructure mission.”

Steve Altemus, the company’s CEO, says the deal represents “an important milestone for Intuitive Machines and reflects the confidence our customers place in our ability to deliver high-performance spacecraft for a broad range of mission needs.”

Company nails down NASA deal for ‘spacecraft bus’

A day after announcing the $600 million-plus deal, Intuitive Machines said it secured a new contract with NASA.

Intuitive Machines says NASA’s Jet Propulsion Laboratory in Southern California will use the company’s IM 300 “spacecraft bus” for an EAGLE-VSWIR Earth observation mission. The mission is scheduled to launch in 2028.

Aside from supplying the IM 300 bus, Intuitive Machines will carry out mission support services.

The low-Earth-orbit mission will be equipped with Intuitive Machines’ hyperspectral visible to shortwave infrared (VSWIR) instrument. This technology sees colors and details that aren’t visible to the human eye.

The instrument is “designed to perform surface biology and geology observations from Earth orbit while demonstrating technologies that could support future lunar and Mars exploration missions,” Intuitive Machines says.

Intuitive Machines builds mission-critical spacecraft, systems, and infrastructure for business and government customers. To date, the company has produced more than 300 spacecraft, delivered over 575 pounds of payload to the moon and launched about 100 satellites.

9 Houston-based companies make Fortune Global 500 list in 2026

Worldwide Rankings

Nine Houston companies landed on the 2026 Fortune Global 500 list, which ranks the world's largest corporations by revenue for the 2025 fiscal year.

Houston's showing on the list was led by energy companies, with Spring’s ExxonMobil claiming the top local spot. Here’s what Houston-area companies made the list, and where they ranked:

  • No. 15 ExxonMobil
  • No. 36 Chevron
  • No. 61 Phillip 66
  • No. 159 Sysco
  • No. 243 ConocoPhillips
  • No. 292 Enterprise Products Partners
  • No. 343 Plains GP Holdings
  • No. 460 SLB
  • No. 481 Hewlett Packard Enterprise

After 12 years as No.1, Arkansas-based Walmart was replaced this year by Seattle-based Amazon in the top spot for 2026. Amazon achieved this by bringing in $700 billion in revenue in 2025, representing a 12 percent increase from the previous year.

"Across global business, we see again and again that the leaders who are winning are those who embrace change,” Alyson Shontell, Fortune's editor in chief and chief content officer, said in a news release. "Amazon has topped the Fortune Global 500, knocking Walmart off its pedestal. The company has continually reinvented itself across new businesses and bold bets—including a $200 billion capital commitment, largely to building its capacity for AI and cloud computing, in this year alone."

The U.S. has 141 companies on the 2026 Fortune Global 500 list, which is the most of any country. Companies in America generated $15.5 trillion in aggregate revenues, a 6 percent increase from the previous year.

The number of women CEOs at Fortune Global 500 companies reached a record of 34 top leaders, who represented 6.8 percent of CEOs of companies on the list.

Technology was the standout growth industry on this year’s list, with 38 companies earning revenues that grew 20 percent to about $4 trillion in 2025, with profits climbing 36 percent to $835 billion. The financial sector accounted for the largest share of companies on the list again, with 123 companies in that sector. The energy sector claimed the No. 2 industry spot with 77 companies making the list.

In June, the Fortune 500 list was released, and Texas led the United States with 57 Fortune 500 companies headquartered in the state, generating $2.8 trillion in combined revenue.

Fast-growing Houston real estate startup surges to No. 7 on Inc. 5000

growth report

Houston-based Epique Realty has ridden the AI wave to rank among the Inc. 5000’s 10 fastest-growing private companies.

With three-year revenue growth of 23,210 percent, the AI-powered real estate brokerage appears at No. 7 on this year’s Inc. 5000 list. The 2026 list ranks private companies based on percentage revenue growth from 2022 to 2025.

Epique, founded in 2021, also ranks as the No. 1 fastest-growing company in Houston, No. 1 fastest-growing real estate company in the U.S., and No. 2 fastest-growing company in Texas.

Epique’s annual revenue surpasses $91 million

Between 2022 and 2025, the company’s annual revenue skyrocketed from $391,654 to more than $91.2 million. In 2025, the brokerage closed more than 23,000 deals and surpassed $7 billion in total sales, elevating Epique to the country’s 14th-largest real estate brokerage as measured by volume.

Epique’s network has more than 4,000 agents.

“To debut in the top 10 of the Inc. 5000 is absolute proof that when you relentlessly put agents first, exponential growth takes care of itself,” co-founder and CEO Joshua Miller said in a news release.

“We didn’t achieve this by following the industry playbook; we achieved this by burning it,” Miller added. “By fully funding our agents’ success through free health care, proprietary AI, and world-class leads, we’ve built a company where agents can finally thrive.”

The company’s other co-founders are Chris Miller, chief operating officer and vice president of expansion, and Janice Delci, chief financial officer.

Epique expands business to Canada, Mexico, Australia

The Millers and Delci have guided the company’s rapid expansion.

“Scaling our corporate support team to match [our] hyper-growth while seamlessly expanding across all 50 states and internationally to Canada, Australia, and Mexico takes an incomparable operational infrastructure,” Miller said.

“We have built an enterprise-grade technology ecosystem that allows us to absorb overhead and empower our agents at lightning speed,” he added. “This ranking validates that our disruptive model is working, and it is completely redefining the global industry standard.”

Epique launched its platform in 2023, touting itself as the industry’s first AI-powered brokerage. The startup’s platform provides AI tools for real estate agents to improve their marketing, streamline content creation, and boost engagement with clients and prospects.

Among Epique’s AI tools are:

  • ChatGPT for generation of property descriptions
  • AI-assisted creation of blog posts and agents’ bios
  • Production of Instagram quotes for social media marketing

“When we started Epique, we wanted to build a company that genuinely cared for its agents’ financial and physical well-being,” Delci says. “To see that vision translate into this level of historic record-breaking growth is a beautiful testament to the true power of radical generosity.”

Epique and fellow honorees will be recognized Oct. 14-16 at the 2026 Inc. 5000 Conference & Gala in Dallas.

Six other Houston-area companies land in top 250

Here are the six other Houston-area companies that claimed spots in the top 250 on the Inc. 5000 list. Each company name is followed by its ranking, headquarters city, and three-year growth rate.

  • No. 27 Empact Technologies, 8,275 percent
  • No. 60 Action1, 4,512 percent
  • No 75 Signs By G, 3,684 percent
  • No. 79 The ’Pause Life, 3,469 percent (Galveston)
  • No. 110 Turtlebox Audio, 2,576 percent
  • No. 178 Dahnani Private Equity Group, 1,904 percent (Stafford)

How did companies in Texas’ other major metros fare?

Here’s a breakdown of companies in the Austin, Dallas-Fort Worth, and San Antonio areas that made the top 250 on the Inc. 5000. Again, each company name is followed by its ranking, headquarters city, and three-year growth rate.

Austin (10 companies)

  • No. 9 Investment Watches, 15,741 percent
  • No. 72 Razor Metrics, 3,856 percent
  • No. 91 Autonomize AI, 2,921 percent
  • No. 102 Choose Your Horizon, 2,719 percent
  • No. 132 Wander Staffing, 2,296 percent
  • No. 144 Everyday Dose, 2,179 percent
  • No. 148 NetRise, 2,118 percent
  • No. 163 Nutrabound Labs, 1,999 percent (Bastrop)
  • No. 179 Steadily, 1,890 percent
  • No. 208 Tiny Health, 1,624 percent

Dallas-Fort Worth (11 companies)

  • No. 3 Yantran, 258,740 percent (Allen)
  • No. 12 Paek Management Group, 12,520 percent (Irving)
  • No. 82 Elite Robotics and Automation, 3,334 percent (Fort Worth)
  • No. 133 Outamation, 2,291 percent (Southlake)
  • No. 147 Red Creek Solutions, 2,119 percent (Frisco)
  • No. 155 JobTread Software, 2,071 percent (Dallas)
  • No. 164 DAX Eyewear, 1,977 percent (Nevada)
  • No. 186 Optimized Waste Removal, 1,830 percent (Fort Worth)
  • No. 204 Freight Flex, 1,642 percent (Denton)
  • No. 212 Maverick Power, 1,591 percent (McKinney)
  • No. 229 Innovative Life Sciences, 1,494 percent (McKinney)

San Antonio (one company)

  • No. 118 Hire With Near, 2,421 percent
View All Listings