These Houston businesses punch in among Texas' best employers, report says

workin' it

The Houston area boasts some top-tier employers. Photo by Getty Images

A slew of Houston-area companies may soon see a surge of inquiries and resumes, thanks to a new ranking.

Great Place to Work, which helps employers improve their workplace culture, and Fortune magazine teamed up to select the Best Companies to Work For in 2022 in two categories: small and midsize employers, and large employers.

In the new report, powerhouse Houston-based builder/developer David Weekley Homes tops the list of the top 20 large employers in Texas — a big jump from its No. 20 spot last year.

“We are incredibly honored to be recognized as the top company on the Best Workplaces in Texas list,” said Robert Hefner, vice president of Human Resources for David Weekley Homes, in a statement. “We’re very proud to offer an amazing workplace culture as well as competitive benefits and perks for our team, which inspires them to delight our customers.”

Powerhouse business IT firm Hewlett Packard Enterprise follows on the large employer list at No. 2, followed by apartment owner and operator Camden Property Trust at No. 3. Mortgage lender Cornerstone Home Lending, commercial real estate company Transwestern, and community college system Lone Star College also land on the prestigious list.

Meanwhile, four of Texas’ top 20 small and midsize employers to work for are right here in the Houston area. They are: mortgage provider Republic State Mortgage, online education hub Continued, oil and gas consulting firm E.A.G. Services, and AI-based e-commerce firm PROS.

Here’s the list of the top 20 small and midsize employers on the list of the Best Companies to Work For:

  1. Credera, Addison
  2. Bestow, life insurance company, Dallas
  3. Publishing Concepts, collector of oral histories, Dallas
  4. Pariveda Solutions, business and technology consulting firm, Dallas
  5. 49 Financial, financial planning provider, Austin
  6. Highland Homes, homebuilder, Plano
  7. AIM, provider of special education services, San Antonio
  8. Republic State Mortgage, mortgage provider, Houston
  9. Continued, provider of online continuing education, Houston
  10. Freese and Nichols, engineering, planning, and consulting firm, Fort Worth
  11. OJO Labs, home search platform, Austin
  12. Dialexa, digital product consulting firm, Dallas
  13. Granite Properties, commercial real estate developer, investor, and manager, Plano
  14. E.A.G. Services, oil and gas consulting firm, Houston
  15. Ontic Technologies, producer of “protective intelligence” software, Austin
  16. PROS, provider of AI-based software for e-commerce, Houston
  17. Scribe Media, book publisher, Austin
  18. Embark, business advisory firm, Dallas
  19. ProPath, operator of pathology practices, Dallas
  20. CerpassRX, pharmacy benefits manager, The Colony

Here’s the list of the top 20 large employers in Texas, according to Great Place to Work and Fortune:

  1. David Weekley Homes, homebuilder, Houston
  2. Hewlett Packard Enterprise, provider of business IT, Spring
  3. Camden Property Trust, apartment owner and operator, Houston
  4. Texas Health Resources, healthcare system, Arlington
  5. Vizient, healthcare consulting firm, Irving
  6. Ryan LLC, tax services and consulting firm, Dallas
  7. Hilcorp Energy, energy exploration and production company, Houston
  8. PrimeLending, a Plains Capital Company, mortgage lender, Dallas
  9. Cornerstone Home Lending, mortgage lender, Houston
  10. Transwestern, commercial real estate company, Houston
  11. Dell Technologies, seller of personal computers, network servers, data storage services, and software, Round Rock
  12. NuStar Energy, pipeline and terminal operator, San Antonio
  13. Mr. Cooper (Nationstar Mortgage), mortgage lender, Coppell
  14. Lone Star College, community college system, Houston
  15. USAA, financial services provider, San Antonio
  16. Sailpoint, provider of identity security software, Austin
  17. Enhabit Home Health & Hospice, home health and hospice provider, Dallas
  18. Epicor Software, provider of software for business process management, Austin
  19. Hilti, provider of tools and technology for construction companies, Plano
  20. Alcon Laboratories, producer of eye care products, Fort Worth

Great Place to Work selected the Best Companies to Work For in 2022 based on feedback from employee surveys and data from Great Place to Work-certified employers.

“As workers struggle with the Great Resignation, burnout, and COVID disruptions, these exceptional companies offer workplace experiences as strong as prior to the pandemic,” says company CEO Michael Bush.

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This article originally ran on CultureMap.

Three Houston companies have been recognized for their superior work environments. Getty Images

3 Houston employers clock in among Fortune's 100 best companies to work

best of the best

Hunting for a job in Houston? A new ranking from Fortune magazine suggests you might consider three local companies.

Camden Property Trust, David Weekley Homes, and Hilcorp Energy Co. all rank on Fortune's 2020 list of the 100 Best Companies to Work For, published February 18.

Fortune bases its annual list of the best workplaces on a nationwide study done by analytics firm Great Place to Work. This time around, the study featured input from more than 4.1 million U.S. workers who responded to over 60 survey questions.

Houston-based apartment owner and operator Camden Property Trust comes in at No. 18, an improvement over last year's rank of 19. The real estate owner and operator is known for a lighthearted corporate culture that has seen executives willing to poke fun at themselves and others at company events and celebrations, according to the list.

Camden Property Trust continues to be one of Houston's best places to work. Camden Property Trust/Facebook

There are also perks to working for an apartment landlord; 44 percent of employees live in Camden-owned apartments and take advantage of a 20 percent rent-discount benefit that collectively saves them more than $1.9 million per year.

Not far down the list, at No. 23, is Houston-based homebuilder David Weekley Homes, which makes a big leap over last year's rank of 41. Family comes first at this nationwide homebuilding company, says the report. Prospective employees often participate in Key Influencer Visits, where they are interviewed (often in their homes) alongside family members or close friends to help hiring managers better understand their personalities and backgrounds.

There's also an internship program designed specifically for employees' children and a discount on homes sold to staffers and their family members (a set percentage based on tenure). One worker says, "It really exemplifies how the company puts the employees first, even before customers."

New to the list this year is Houston-based oil and gas production company Hilcorp Energy Co. The largest privately held oil and natural-gas production company in the U.S., Hilcorp challenges its employees to think in terms of Big Hairy Audacious Goals, the lofty performance goals it sets every five years. For every BHAG met, employees are rewarded with significant cash bonuses and even new cars.

To meet these goals, CEO Greg Lalicker believes, total transparency is a must, from frontline employees to the CFO, according to the report. All financials, cash flow, investments, oil- and gas-price impacts, BHAG progress reports, and other critical information are shared in monthly, companywide "lifting cost" meetings. "It blows your mind to be in your first lifting-cost meeting and hear supersecret information," recalls one new hire.

Five other Texas-based employers also appear on this year's list:

  • No. 15. - Arlington-based Texas Health Resources ranks first among Texas-based employers and 15th nationwide on Last year, the organization ranked ninth nationwide.
  • No. 55. - San Antonio-based financial services provider USAA. Last year's rank: 30.
  • No. - 66. Dallas-based Ryan LLC, a provider of tax software and services. Last year's rank: 52.
  • No. 86. - San Antonio-based oil pipeline and terminal operator NuStar Energy LP. Last year it was unranked.
  • No. 88. - Dallas-based Encompass Health Home Health & Hospice, part of Birmingham, Alabama-based Encompass Health Corp. Last year's rank: 54.

Nationwide, McLean, Virginia-based Hilton Worldwide Holdings Inc. ranks first on this year's Fortune list, followed by Weston, Florida-based Ultimate Software Group Inc., Rochester, New York-based Wegmans Food Markets Inc., San Jose, California-based Cisco Systems Inc., and Pleasanton, California-based Workday Inc.

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This article originally ran on CultureMap.

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Elon Musk's SpaceX files initial paperwork to sell shares to the public

Incoming IPO

Elon Musk's space exploration company has filed preliminary paperwork to sell shares to the public, according to two sources familiar with the filing, a blockbuster offering that would likely rank as the biggest ever and could make its founder the world's first trillionaire.

A SpaceX IPO promises to be one of the biggest Wall Street events of the year, with several investment banks lining up to help raise tens of billions to fund Musk's ambitions to set up a base on the moon, put datacenters the size of several football fields in orbit and possibly one day send a man to Mars.

The sources spoke on condition of anonymity because they were not authorized to talk publicly about the confidential registration with the Securities and Exchange Commission.

SpaceX did not respond immediately to a request for comment.

Exactly how much SpaceX plans to raise has not been disclosed but the figure is reportedly as much as $75 billion. At that level, the offering would easily eclipse the $29 billion that Saudi Aramco raised in its IPO in 2019.

The offering, coming possibly in June, could value all the shares of SpaceX at $1.5 trillion, nearly double what the company was valued in December when some minority owners sold their stakes, according to research firm Pitchbook, before an acquisition that increased its size.

Musk owns 42% of the SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares. In any case, he is likely to pierce the trillion dollar mark because he is already close. Forbes magazine estimates Musk's net worth at roughly $823 billion.

In addition to making reusable rockets to hurl astronauts and hardware into orbit, SpaceX owns Starlink, the world’s largest satellite communications company. The company also recently brought under its roof two other Musk businesses, social media platform X, formerly Twitter, and artificial intelligence business, xAI, in a controversial transaction because both the seller and the buyer were controlled by him.

SpaceX has become the biggest commercial launch company in its industry, responsible for sending payloads into orbit for customers across the globe, but has also benefited from big taxpayer spending. That has raised conflicts of interest issues given that Musk was the biggest donor to President Donald Trump's campaign and is still a big backer.

In the past five years, SpaceX won $6 billion in contracts from NASA, the Defense Department and other U.S. government agencies, according to USAspending.gov.

Among current SpaceX owners is Donald Trump Jr, the president's oldest son. He owns a shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.

The White House and Trump himself have repeatedly denied there are any conflicts of interest between his role as president and his family's businesses.

8+ can't-miss Houston business and innovation events in April

where to be

Editor’s note: Houston's weeklong innovation festival kicks off April, followed by Rice University's globally recognized pitch competition returning for its 26th year. Plus, find coworking pop-ups, industry meetups, pitch battles and even a crawfish boil on the calendar. Here’s what not to miss and how to register. Please note: this article might be updated to add more events.

March 30-April 4 — H-Town Roundup

Celebrate innovation, entrepreneurship and collaboration at Houston Exponential's sixth-annual H-Town Roundup. During the free event series, previously known as Houston Tech Rodeo, attendees can expect insightful talks, workshops and networking events at venues across the city.

This event began March 30. Register here.

April 2 — Industrious Coworking Day

Enjoy a complimentary day of cowering at Industrious and network with professionals at the Ion. Breakfast, snacks, wifi and workspace tours are included. Following the cowering day, Industrious will host happy hour at Second Draught from 4-6 p.m.

This event is Thursday, April 2, from 8:30 a.m.-5 p.m. at the Ion. Register here.

April 2 — Technology Summit for Women

The fourth annual Women in Tech Cummil will feature speakers across three core tracks: Transformation + Digital strategy, Cyber + Risk + Resilience, and AI in Practice. Pearl Chu, director of technical domains and university relations at SLB, will give the opening remarks. Other panelists come from CenterPoint Energy, BP, Technip Energies and other leading companies.

This event is Thursday, April 2, from 2-5 p.m. at the Ion. Register here.

April 8 — Veterans Business Battle

Hear pitches from veterans and entrepreneurs as they compete for more than $10 million in investments at Rice Businesses' 12th annual Veterans Business Battle. This year, the two-day event will also feature a Small Business Expo, which invites Houston-based, veteran-owned businesses to participate in education, networking and the opportunity to showcase their business. Moonshots Capital and Mercury Fund will also host a fireside chat.

This event begins Wednesday, April 8, at 11 a.m. at the Ion. Click here to register.

April 9-11 — Rice Business Plan Competition

The Rice Alliance for Technology and Entrepreneurship will host the 26th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event begins Thursday, April 9. Find more information here.

April 10 — BioHouston Chili Cookoff

Connect with Houston's life sciences community at BioHouston's 21st annual chili cookout. This event is geared toward startup founders, researchers and industry veterans alike.

This event is Friday, April 10, from noon-4 p.m. at Bayou City Event Center. Register here.

April 14 — Mercury Fund Day at the Ion: Agentic Commerce

Don’t miss the latest installment of Mercury Fund Day at the Ion, previously known as Software Day. The recurring monthly event features office hours (by application), a keynote and networking opportunities. This month's topic focuses on agentic commerce.

This event is Tuesday, April 14, from 3:30-7 p.m. at the Ion. Register here.

April 19 – UH Energy Industry Crawfish Boil

Head to the UH Cullen College of Engineering Green Space for the 35th annual UH Energy Industry Crawfish Boil. The event will include a student showcase, STEM activities, a kids zone, live music, networking and, of course, crawfish. Proceeds from the event will support the multidisciplinary capstone fund that aims to increase professional readiness for Cullen College engineering and technology students.

This event is Sunday, April 19, from 1-5 p.m. at the Cullen College of Engineering Green Space. Find more information here.

April 24 — Rice Business Healthcare Conference

Leading experts, innovators and the next generation of healthcare leaders will converge at the Rice Business Healthcare Conference. Hosted by the Rice Business Healthcare Association, the conference will explore AI's potential impact on the sector.

This event is Friday, April 24, from 8 a.m.-2 p.m. at McNair Hall on Rice University's campus. Find more information here.

Houston unicorn closes $421M to fuel first phase of flagship energy project

Heating Up

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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This article first appeared on EnergyCapitalHTX.com.

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