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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Innovative Houston-area hardtech startup closes $5M seed round

fresh funding

Conroe-based hardtech startup FluxWorks has closed a $5 million seed round.

The funding was led by Austin-based Scout Ventures, which invests in early-stage startups working to solve national security challenges.

Michigan Capital Network also contributed to the round from its MCN Venture Fund V. The fund is one of 18 selected by the Department of Defense and Small Business Administration to participate in the Small Business Investment Company Critical Technologies Initiative, which will invest $4 billion into over 1,700 portfolio companies.

FluxWorks reports that it will use the funding to drive the commercialization of its flagship Celestial Gear technology.

"At Scout, we invest in 'frontier tech' that is essential to national interest. FluxWorks is doing exactly that by solving critical hardware bottlenecks with its flagship Celestial Gear technology ... This is about more than just gears; it’s about strengthening our industrial infrastructure," Scout Ventures shared in a LinkedIn post.

Fluxworks specializes in making contactless magnetic gears for use in extreme conditions, which can enhance in-space manufacturing. Its contactless design leads to less wear, debris and maintenance. Its technology is particularly suited for space applications because it does not require lubricants, which can be difficult to control at harsh temperatures and in microgravity.

The company received a grant from the Texas Space Commission last year and was one of two startups to receive the Technology in Space Prize, funded by Boeing and the Center for the Advancement of Science in Space (CASIS), in 2024. It also landed $1.2 million through the National Science Foundation's SBIR Phase II grant this fall.

Fluxworks was founded in College Station by CEO Bryton Praslicka in 2021. Praslicka moved the company to Conroe 2024.

5 Houston scientists named winners of prestigious Hill Prizes 2026

prized research

Five Houston scientists were recognized for their "high-risk, high-reward ideas and innovations" by Lyda Hill Philanthropies and the Texas Academy of Medicine, Engineering, Science and Technology (TAMEST).

The 2026 Hill Prizes provide seed funding to top Texas researchers. This year's prizes were given out in seven categories, including biological sciences, engineering, medicine, physical sciences, public health and technology, and the new artificial intelligence award.

Each recipient’s institution or organization will receive $500,000 in direct funding from Dallas-based Lyda Hill Philanthropies. The organization has also committed to giving at least $1 million in discretionary research funding on an ad hoc basis for highly-ranked applicants who were not selected as recipients.

“It is with great pride that I congratulate this year’s Hill Prizes recipients. Their pioneering spirit and unwavering dedication to innovation are addressing some of the most pressing challenges of our time – from climate resilience and energy sustainability to medical breakthroughs and the future of artificial intelligence,” Lyda Hill, founder of Lyda Hill Philanthropies, said in a news release.

The 2026 Houston-area recipients include:

Biological Sciences: Susan M. Rosenberg, Baylor College of Medicine

Rosenberg and her team are developing ways to fight antibiotic resistance. The team will use the funding to screen a 14,000-compound drug library to identify additional candidates, study their mechanisms and test their ability to boost antibiotic effectiveness in animal models. The goal is to move toward clinical trials, beginning with veterans suffering from recurrent infections.

Medicine: Dr. Raghu Kalluri, The University of Texas MD Anderson Cancer Center

Kalluri is developing eye drops to treat age-related macular degeneration (AMD), the leading cause of vision loss globally. Kalluri will use the funding to accelerate studies and support testing for additional ocular conditions. He was also named to the National Academy of Inventors’ newest class of fellows last month.

Engineering: Naomi J. Halas, Rice University

Co-recipeints: Peter J. A. Nordlander and Hossein Robatjazi, Rice University

Halas and her team are working to advance light-driven technologies for sustainable ammonia synthesis. The team says it will use the funding to improve light-driven catalysts for converting nitrogen into ammonia, refine prototype reactors for practical deployment and partner with industry collaborators to advance larger-scale applications. Halas and Nordlander are co-founders of Syzygy Plasmonics, and Robatjazi serves as vice president of research for the company.

The other Texas-based recipients include:

  • Artificial Intelligence: Kristen Grauman, The University of Texas at Austin
  • Physical Sciences: Karen L. Wooley, Texas A&M University; Co-Recipient: Matthew Stone, Teysha Technologies
  • Public Health: Dr. Elizabeth C. Matsui, The University of Texas at Austin and Baylor College of Medicine
  • Technology: Kurt W. Swogger, Molecular Rebar Design LLC; Co-recipients: Clive Bosnyak, Molecular Rebar Design, and August Krupp, MR Rubber Business and Molecular Rebar Design LLC

Recipients will be recognized Feb. 2 during the TAMEST 2026 Annual Conference in San Antonio. They were determined by a committee of TAMEST members and endorsed by a committee of Texas Nobel and Breakthrough Prize Laureates and approved by the TAMEST Board of Directors.

“On behalf of TAMEST, we are honored to celebrate the 2026 Hill Prizes recipients. These outstanding innovators exemplify the excellence and ambition of Texas science and research,” Ganesh Thakur, TAMEST president and a distinguished professor at the University of Houston, added in the release. “Thanks to the visionary support of Lyda Hill Philanthropies, the Hill Prizes not only recognize transformative work but provide the resources to move bold ideas from the lab to life-changing solutions. We are proud to support their journeys and spotlight Texas as a global hub for scientific leadership.”

Investment bank opens new Houston office focused on energy sector

Investment bank Cohen & Co. Capital Markets has opened a Houston office to serve as the hub of its energy advisory business and has tapped investment banking veteran Rahul Jasuja as the office’s leader.

Jasuja joined Cohen & Co. Capital Markets, a subsidiary of financial services company Cohen & Co., as managing director, and head of energy and energy transition investment banking. Cohen’s capital markets arm closed $44 billion worth of deals last year.

Jasuja previously worked at energy-focused Houston investment bank Mast Capital Advisors, where he was managing director of investment banking. Before Mast Capital, Jasuja was director of energy investment banking in the Houston office of Wells Fargo Securities.

“Meeting rising [energy] demand will require disciplined capital allocation across traditional energy, sustainable fuels, and firm, dispatchable solutions such as nuclear and geothermal,” Jasuja said in a news release. “Houston remains the center of gravity where capital, operating expertise, and execution come together to make that transition investable.”

The Houston office will focus on four energy verticals:

  • Energy systems such as nuclear and geothermal
  • Energy supply chains
  • Energy-transition fuel and technology
  • Traditional energy
“We are making a committed investment in Houston because we believe the infrastructure powering AI, defense, and energy transition — from nuclear to rare-earth technology — represents the next secular cycle of value creation,” Jerry Serowik, head of Cohen & Co. Capital Markets, added in the release.

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This article originally appeared on EnergyCaptialHTX.com.

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