Texas clocks in as 5th hardest-working state in U.S., survey says

LAUDING TEXAS’ LABOR FORCE

We work hard for the money in Houston. Photo by Hinterhaus Productions/Getty

n the 1980s, disco queen Donna Summer sang the praises of a blue-collar woman in the hit tune “She Works Hard for the Money.” If the song were to be updated for this decade, it might morph into an ode to the hardworking women and men of Texas.

A new ranking from personal finance website WalletHub puts Texas at No. 5 among the hardest-working states. The Lone Star State repeated its fifth-place showing from last year. In the 2022 study, Texas is preceded by North Dakota, Alaska, Nebraska, and South Dakota. The slackers, it appears, are in bottom-ranked New Mexico.

WalletHub evaluated each state based on 10 metrics. In the Labor Day-timed study, Texas earned an especially high mark for the average number of hours worked per week (ranked fourth).In July 2022, nearly 14.6 million people were part of the state’s civilian workforce (which excludes active-duty military personnel), according to the U.S. Bureau of Labor Statistics. That month, the state’s unemployment rate stood at 4 percent.

In a news release touting the July 2022 job numbers for Texas, Gov. Greg Abbott highlighted the state’s “young, skilled, diverse, and growing workforce.”

“Texas jobs are booming, and more Texans are working than ever before as we again break all previous records for total jobs,” Abbott says. “Despite the economic challenges job creators are facing across the nation, businesses are investing with confidence in the Lone Star State because we’ve built a framework that allows free enterprise to flourish and hardworking Texans to succeed.”

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this article originally ran on CultureMap.

Workers in the Lone Star State put in more hours and take less vacation time than most of America. Photo by gguy44/Getty Images

New report proves Texans work harder than almost anyone else in U.S.

SERIOUSLY, TAKE A BREAK

Texans don't just work hard, they work harder than almost anyone else in the nation, according to a new study.

Just in time for Labor Day, WalletHub has revealed the hardest-working states for 2019, and Texas lands at No. 4, meaning only three states — North Dakota, Alaska, and South Dakota — work harder. To determine the ranking, the personal finance site reviewed a host of factors, from average workweek, commute time, and leisure time to employment rates and the share of workers with multiple jobs.

In Texas, where 96 percent of the labor force has a job, workers stay on the clock an average of 40 hours a week. While that might seem pretty standard, somehow, that makes us the state with the fourth-longest workweek.

And those hardworking Texans could use a break. Surprisingly, 29 percent of the state's workers don't use all of their vacation time. One contributing factor could be the state's high percentage of engaged workers (35 percent), described in the study as "involved in, enthusiastic about, and committed to their work and workplace."

As we know, work doesn't just start and end at your desk. WalletHub also measured workers' commute times, volunteer hours, and leisure time, which it categorized as indirect work factors.

In Texas, workers regularly travel about 26 minutes one way for their jobs, and despite their long workweeks, they make time to volunteer for 27 hours each year on average. In regards to work-life balance, Texans set aside almost six hours a day for leisure time. That may sound ample, but workers in 19 other states spend even more time relaxing.

This isn't the only recent study to call attention to how much time Texans spend on the clock.

A recent report from mobile technology company Kisi named Houston, where workers clock 43.7 hours a week, the second most overworked city in the U.S., second only to Washington, D.C. Austin also shot to the top of the list, with workers laboring 43.5 hours a week, followed by San Antonio (43.1 hours) and Dallas (42.9 hours).

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This article originally ran on CultureMap.

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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.

Houston food giant Sysco to acquire competitor in $29 billion deal

Mergers & Acquisitions

Sysco, the nation's largest food distributor, will acquire supplier Restaurant Depot in a deal worth more than $29 billion.

The acquisition would create a closer link between Sysco and its customers that right now turn to Restaurant Depot for supplies needed quickly in an industry segment known as “cash-and-carry wholesale.”

Sysco, based in Houston, serves more than 700,000 restaurants, hospitals, schools, and hotels, supplying them with everything from butter and eggs to napkins. Those goods are typically acquired ahead of time based on how much traffic that restaurants typically see.

Restaurant Depot offers memberships to mom-and-pop restaurants and other businesses, giving them access to warehouses stocked with supplies for when they run short of what they've purchased from suppliers like Sysco.

It is a fast growing and high-margin segment that will likely mean thousands of restaurants will rely increasingly on Sysco for day-to-day needs.

Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares. Based on Sysco’s closing share price of $81.80 as of March 27, 2026, the deal has an enterprise value of about $29.1 billion.

Restaurant Depot was founded in Brooklyn in 1976. The family-run business then known as Jetro Restaurant Depot, has become the nation's largest cash-and-carry wholesaler.

The boards of both companies have approved the acquisition, but it would still need regulatory approval.

Shares of Sysco Corp. tumbled 13% Monday to $71.26, an initial decline some industry analysts expected given the cost of the deal.

Houston researcher builds radar to make self-driving cars safer

eyes on the road

A Rice University researcher is giving autonomous vehicles an “extra set of eyes.”

Current autonomous vehicles (AVs) can have an incomplete view of their surroundings, and challenges like pedestrian movement, low-light conditions and adverse weather only compound these visibility limitations.

Kun Woo Cho, a postdoctoral researcher in the lab of Rice professor of electrical and computer engineering Ashutosh Sabharwal, has developed EyeDAR to help address such issues and enhance the vehicles’ sensing accuracy. Her research was supported in part by the National Science Foundation.

The EyeDAR is an orange-sized, low-power, millimeter-wave radar that could be placed at streetlights and intersections. Its design was inspired by that of the human eye. Researchers envision that the low-cost sensors could help ensure that AVs always pick up on emergent obstacles, even when the vehicles are not within proper range for their onboard sensors and when visibility is limited.

“Current automotive sensor systems like cameras and lidar struggle with poor visibility such as you would encounter due to rain or fog or in low-lighting conditions,” Cho said in a news release. “Radar, on the other hand, operates reliably in all weather and lighting conditions and can even see through obstacles.”

Signals from a typical radar system scatter when they encounter an obstacle. Some of the signal is reflected back to the source, but most of it is often lost. In the case of AVs, this means that "pedestrians emerging from behind large vehicles, cars creeping forward at intersections or cyclists approaching at odd angles can easily go unnoticed," according to Rice.

EyeDAR, however, works to capture lost radar reflections, determine their direction and report them back to the AV in a sequence of 0s and 1s.

“Like blinking Morse code,” Cho added. “EyeDAR is a talking sensor⎯it is a first instance of integrating radar sensing and communication functionality in a single design.”

After testing, EyeDAR was able to resolve target directions 200 times faster than conventional radar designs.

While EyeDAR currently targets risks associated with AVs, particularly in high-traffic urban areas, researchers also believe the technology behind it could complement artificial intelligence efforts and be integrated into robots, drones and wearable platforms.

“EyeDAR is an example of what I like to call ‘analog computing,’” Cho added in the release. “Over the past two decades, people have been focusing on the digital and software side of computation, and the analog, hardware side has been lagging behind. I want to explore this overlooked analog design space.”

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