Houston suburb ranks No. 10 for holiday spending

shop 'til you drop

The Woodlands is the U.S. city with the No. 10 biggest holiday spending budget in 2023, and a few other Texas neighborhoods rank highly as well. The Woodlands Mall/Facebook

Santa and his elves get busier with every passing year, but sometimes even Kris Kringle has to use his black card to get the job done. And according to a new study by Wallethub, Santa's gonna be working overtime to fulfill the orders for residents of The Woodlands this holiday season.

The personal finance experts have determined The Woodlands is the U.S. city with the No. 10 biggest holiday spending budget in 2023. Shoppers in the affluent Houston suburb are expected to spend $3,316 this festive season.

According to the U.S. Census Bureau, The Woodlands' estimated population of 114,436 had a median household income of $130,011.

This is The Woodlands' first time in the holiday shopping spotlight. The Houston suburb ranked a much lower – No. 71 – in last year's report with an average spending budget of $1,733. Way to step it up.

The nearby city of Sugar Land is a returnee, and moved up one place from No. 15 last year into No. 14 this year. The average holiday budget for a Sugar Land household is $3,210.

Houston fell into No. 209 this year with an average household holiday budget of $1,296. Houston skyrocketed away from its previous rank as No. 366 in 2022 with an average spending budget of $890.

Six other East Texas cities landed in this year's report on the heftiest holiday budgets:

  • No. 31 – Pearland ($2,566)
  • No. 34 – Missouri City ($2,517)
  • No. 234 – Beaumont ($1,244)
  • No. 238 – Pasadena ($1,237)
  • No. 407 – Conroe ($935)
  • No. 438 – Baytown ($872)

Each year, WalletHub calculates the maximum holiday budget for over 550 U.S. cities "to help consumers avoid post-holiday regret," the website says. The study factors in income, age of the population, and other financial indicators such as debt-to-income ratio, monthly-income-to monthly-expenses ratio, and savings-to-monthly-expenses ratio.

Shoppers will have to keep a closer eye on their bank accounts this year while they search for the best gifts for their loved ones. Many consumers are running out of savings accumulated during the height of the COVID-19 pandemic, according to Yao Jin, an associate professor of supply chain management at Miami University.

To combat overspending, Jin suggests setting hard budgets based on personal financial circumstances and develop a list of "must haves" rather than "nice to haves."

"Holiday times are festive, and retailers know that festivities can boost mood and lead to a propensity to overspend," he said in the Wallethub report. "In fact, that is also why retailers tend to have more generous return policies to both alleviate concerns of unwanted gifts and buyer’s remorse. The key to avoiding holiday overspending is for consumers to take the emotions out of the decision, to the extent possible."

Other Texas cities that made it in the top 100 include:
  • No. 3 – Frisco ($3,546)
  • No. 5 – Flower Mound ($3,485)
  • No. 22 – Allen ($2,964)
  • No. 30 – Plano ($2,566)
  • No. 44 – Cedar Park ($2,354)
  • No. 56 – McKinney ($2,165)
  • No. 67 – Carrollton ($1,928)
  • No. 71 – Austin ($1,877)
  • No. 77 – Richardson ($1,809)
  • No. 95 – League City ($1,733)
  • No. 99 – North Richland Hills ($1,706)

The report and its methodology can be found on wallethub.com.

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This article originally ran on CultureMap.

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Folks are making a run to Missouri City. Photo Courtesy Missouri City

2 Houston suburbs roll onto top-15 spots on U-Haul’s list of growing cities

on the move

More movers hauled their belongings to Texas than any other state last year. And those headed to the Greater Houston area were mostly pointed toward Missouri City and Conroe, according to a new study.

In its recently released annual growth report, U-Haul ranks Missouri City and Conroe at No. 13 and No. 19, respectively among U.S. cities with the most inbound moves via U-Haul trucks in 2022. Richardson was the only other Texas cities to make the list coming in at No. 15.

Texas ranks No. 1 overall as the state with the most in-bound moves using U-Haul trucks. This is the second year in a row and the fifth year since 2016 that Texas has earned the distinction.

“The 2022 trends in migration followed very similar patterns to 2021 with Texas, Florida, the Carolinas and the Southwest continuing to see solid growth,” U-Haul international president John Taylor says in a news release. “We still have areas with strong demand for one-way rentals. While overall migration in 2021 was record-breaking, we continue to experience significant customer demand to move out of some geographic areas to destinations at the top of our growth list.”

U-Haul determines the top 25 cities by analyzing more than 2 million one-way U-Haul transactions over the calendar year. Then the company calculated the net gain of one-way U-Haul trucks entering a specific area versus departing from that area. The top U-Haul growth states are determined the same way.

The studies note that U-Haul migration trends do not directly correlate to population or economic growth — but they are an “effective gauge” of how well cities and states are attracting and maintaining residents.

Missouri City is known for its convenient location only minutes from downtown Houston. The city’s proximity to major freeways, rail lines, the Port of Houston, and Bush and Hobby Airports links its businesses with customers “around the nation and the world,” per its website.

The No. 19-ranked city of Conroe is “the perfect blend of starry nights and city lights,” according to the Visit Conroe website. Conroe offers plenty of outdoor activities, as it is bordered by Lake Conroe, Sam Houston National Forest and W. Goodrich Jones State Forest. But it also has a busy downtown area with breweries, theaters, shopping and live music.

To view U-Haul’s full growth cities report, click here.

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This article originally ran on CultureMap.

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Rice Alliance, Greentown name winners of Houston Energy and Climate Week pitch competitions

winner winners

Approximately 100 startups from around the world pitched their breakthrough technologies and businesses during Houston Energy and Climate Week, with a select few taking home top prizes and bragging rights.

Each year, investors at the Rice Alliance Energy Technology Venture Forum name the 10 most-promising startups. Greentown's Climatetech Summit also culminates in a pitch event, where member companies can earn cash prizes.

Here's who won at two of the week's anchor events and competitions.

Rice Alliance Energy Tech Venture Forum

The 23nd annual event was held Thursday, Sept. 17, at Rice University’s Jones Graduate School of Business. The most-promising companies were selected by industry experts and participating investors attending the event.

The 10 most-promising companies included:

  • Australia-based Aquafortus, which has developed a non-thermal liquid to liquid desalination technology for resource recovery from wastewater brine
  • Houston-based Focis AI, which converts industrial laser scans into a queryable digital twin of refineries and plants
  • Houston-based ironlattice, a semiconductor manufacturing company
  • Houston-based Licube, which has developed technology to produce ultra-high-purity lithium compounds for the fusion energy, pharmaceuticals, semiconductors and high-performance solid-state battery sectors
  • Houston-based Mars Materials, a clean chemical manufacturing business that is working to convert captured carbon into resources, such as carbon fiber and wastewater treatment chemicals
  • Dallas-based MCatalysis, which has developed a suite of proprietary microwave-driven catalysts to produce high-quality, ready-to-use fuels compatible with existing infrastructure
  • Oslo, Norway-based OTee, an automation machinery manufacturer
  • Houston-based Pike Robotics, which deploys its Wall-Eye robot to inspect hazardous tanks without taking assets offline
  • New Mexico-based Spiritus, a direct-air-capture (DAC) technology company
  • San Francisco-based UptimeAI Inc., which develops AI reasoning agents for industrial operations teams

Stellai won the People's Choice Award. The Norwegian company develops AI products for the waste management industry.

The energy technology ventures selected to participate in the forum were named earlier this year. See the full list here, and read about last year's winners here.

Greentown Lab's Climatetech Summit

The annual summit was held Wednesday, Sept. 16, featured a number of Houston startups in its pitch competition and lighting pitch round. Judges included Dave Dreessen,, Jon Greene, Naval Preet Singh, Philip Llewellyn, Erin Madro, Justin Yeung, Jay Kim, Rawand Rasheed and Moji Karimi.

Pitch winners included:

  • First place: Elementium Materials' CEO Matthew Dawson, winning a $10,000 cash prize sponsored by TotalEnergies plus another $10,000 in legal services sponsored by Foley Hoag. The company develops advanced battery electrolytes. It is a Greentown Boston member; though Dawson is based in Houston.
  • Second place: Houston-based Solidec CEO and co-founder Ryan DuChanois, winning $5,000 in legal services sponsored by Foley Hoag. The company electrolyzes air, water and electricity into onsite hydrogen peroxide.

Lightening pitch winners included:

  • First place: Montana-based MagDrive Technologies, winning a $1,000 cash prize sponsored by Energy Transition Ventures. The company develops magnetically actuated, zero-emission valve systems that eliminate fugitive emissions and improve reliability.
  • Second place: Houston-based HEXASpec, winning a $500 cash prize sponsored by Foley Hoag. The company has created a new material to improve heat management for the semiconductor industry.

Read Greentown's recap of the summit here.

Houston Energy and Climate Week announced that the 2027 event will move to the spring, held April 4-10.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.

Eli Lilly breaks ground on $6.5B pharmaceutical factory in Houston

lilly lands

Leading pharmaceutical company Eli Lilly broke ground today, Sept. 21, on its $6.5 billion manufacturing site at Houston's Generation Park.

The 236-acre, state-of-the art factory is expected to come online in 2030 and will manufacture Foundayo, the company's first synthetic oral GLP-1 medication, as well as other advanced therapeutics.

"We are thrilled to break ground on our latest ‘medicines made in America’ site in the great state of Texas," David Ricks, Lilly chair and CEO, said in a prepared statement. "This $6.5 billion investment will help change the game for tens of millions of people suffering from overweight, obesity and its consequences like diabetes. We will make and ship Lilly’s latest products from Texas to people here at home and around the world.”

Houston was up against more than 300 locations in the U.S. for the factory, as part of Lilly’s $50 billion investment in domestic medicine production that has launched 10 manufacturing sites since 2020. Lilly first announced Houston had been selected for the site last September.

Photo via gov.texas.gov

As Abbott mentioned, the site is expected to create hundreds of jobs, and will hire engineers, scientists, operations personnel and lab technicians once up and running. It will create 4,000 construction jobs while being built.

In an effort to support workforce development, Lilly also announced a $12.5 million commitment to Houston's San Jacinto College in addition to a $2.5 million charitable donation to the San Jacinto College Foundation. The funding will go toward hands-on training, equipment and facilities to support future technicians, operators, maintenance professionals, and other manufacturing talent, according to Lilly. The charitable donation will fund scholarships for students.

"This relationship will build a strong, sustainable talent pipeline for Lilly while creating meaningful, high-demand career opportunities across our region,” Brenda Hellyer, chancellor of San Jacinto College, said in the release.

"When you invest in a place like Houston, you invest in its people first," Edgardo Hernandez, executive vice president and president of Lilly Manufacturing Operations, added. "This facility will run on the talent of this community, powered by our relationship with San Jacinto College. We're hiring across the greater Houston area to help residents build careers close to home."

Rendering courtesy Eli Lilly

Lilly previously said it chose Generation Park, a 4,300-acre, master-planned commercial district near Lake Houston, because of factors such as financial incentives, access to utilities and transportation and the region’s business-friendly environment. Generation Park is home to campuses for San Jacinto College and Lone Star College.

Since Lilly first announced plans for the site, another fellow pharma giant has made plans to move into Generation Park. Bristol Myers Squibb Co. announced last month that it would build a $2.3 billion factory in the district. The site is expected to manufacture small molecule, biologic and antibody-drug conjugates and will also come online around 2030. Read more here.

UH Health names leader of new digital health institute

new exec

Recently launched UH Health has named the first-ever executive director of its new Institute for Digital Healthcare Transformation at the University of Houston.

Beto López has been tapped to lead the new initiative that aims to help develop and commercialize health care technologies centered around university research.

Launched in August, the Institute for Digital Healthcare Transformation leans on experts from UH’s engineering, medicine, business, law and other departments and will connect with industry partners. It will initially focus on mobile health applications, sensors, wearables and artificial intelligence, according to UH.

“Most digital health initiatives and commercialization efforts start with the technology and hope adoption follows. But the translation gap isn't a science problem — it’s a scaffolding problem between researchers, the community and the market,” López said in a news release. “I've spent the past 10 years building that scaffolding in places that weren’t wired for it, and I'm looking forward to building it here at UH to help ensure new health care technologies reach the people and communities that can benefit from them most.”

López previously spent 10 years at San Francisco-based innovation consultancy company IDEO, where he led over 100 projects for Fortune 500 companies and public agencies. He co-founded and served as managing director of the Design Institute for Health at UT Austin’s Dell Medical School; and also co-founded a social venture studio/venture capital fund focused on health care innovation. He worked alongside Houston’s Legacy Community Health during the COVID-19 pandemic.

“Beto understands that breakthrough technology alone doesn't transform health care — it has to be designed around the needs of patients, providers and communities and have a clear path into practice,” Jonathan McCullers, vice president for health affairs at UH, added in the news release. “His experience spanning academic health care and venture capital equips him to bring together researchers, health care organizations, entrepreneurs and investors. This makes him uniquely suited to lead this institute and help turn the university's innovation into solutions that improve people's lives.”

The University of Houston launched UH Health, its new cross-disciplinary academic venture, in July. It aims to bring together the university's health-related education, research and community impact under one umbrella.

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