making moves

Booming Houston suburb hauls in top spot among growing U.S. cities

The Woodlands is booming. Photo by Derrick Bryant Photography

The Houston metro area's population is poised to continue booming over the next decade, so it should be no surprise that U-Haul calculated one Houston suburb as one of the top U.S. cities for growth.

In its annual report, released January 7, the company details migration trends across the U.S. Analyzing data from 2019, the moving and rental company placed Spring-The Woodlands at No. 14 among the 2019 U-Haul Growth Cities.

To determine the country's top 25 growth cities, U-Haul analyzed more than 2 million rental transactions over the calendar year. It then calculated the net gain of one-way U-Haul trucks entering an area versus those leaving an area.

Unlike U.S. Census Bureau or real estate data, the company says its U-Haul Growth Cities offers a snapshot of an area's retention rates versus strictly growth.

"While U-Haul migration trends do not correlate directly to population or economic growth, the company's growth data is an effective gauge of how well cities and states are attracting and maintaining residents," it explains in a release.

Three other Texas cities were perched on the list: the Austin suburb of Round Rock-Pflugerville (No. 5), the San Antonio suburb of New Braunfels (No. 11), and the Dallas suburb of McKinney (No. 17).

The top spot this year went to Raleigh-Durham, where arrivals accounted for nearly 51.4 percent of all one-way U-Haul traffic. In its explanation as to why the North Carolina hub is growing, the company points to the region's booming tech sector, which is says rivals that of Austin.

"We have tons of businesses coming here, bringing new residents in U-Haul trucks," said Kris Smith, U-Haul Company of Raleigh president, in a release. "Raleigh-Durham is rivaling Austin for attracting tech businesses and young professionals. We're seeing Silicon Valley talent and companies flock to the area. With a competitive cost of living, good wages, and job growth, Raleigh-Durham is experiencing a boom in population."

But when it came to the top growth state, neither Texas nor North Carolina got the No. 1 spot. That honor went to Florida, which took the crown from Texas, the winner in 2018. The Sunshine State claimed seven cities among the top 25, including five in the top 10.

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This article originally ran on CultureMap.

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Building Houston

 
 

"There's something magical happening in Houston, and [VCs] want a piece of it." Photo via Getty Images

Houston's seen a growth in startup and venture investment — even amid the pandemic — and a group of Houston innovators sat down for a virtual event to discuss what's lead to this evolution.

The Greater Houston Partnership hosted an installment of its Houston Industry Series focused on Digital Tech on Thursday, September 24. The panel of experts, moderated by Krisha Tracy of Google Cloud, discussed how they've observed the paradigm shift that's occurred in Houston over the past few years — and why.

Missed the discussion? Here are some significant overheard moments from the virtual event.

“I think there really is an interest for venture capital here, both locally and also welcoming it from outside of Houston. … There’s something magical happening in Houston, and [VCs] want a piece of it. I think that magical piece is a renewed interest in collaborating.”

Stephanie Campbell, managing director of Houston Angel Network and co-founder of The Artemis Fund. "I think a lot [of this progress] is due to the GHP, Houston Exponential, and the founding of the HX Venture Fund to bring those venture funds to Houston to say, 'what's happening here?'" Campbell adds, saying that this connectivity and collaboration that's happening in Houston VC is unique.

“I think there’s a misconception around all we do is oil and gas and life science in Houston, but when you think about what VC-backable companies look like, they’re tech, they’re B2B SaaS, they’re highly scalable, and they don’t tend to be capital-intensive types of things we see corporate venture backing.”

Campbell says, adding "the connectivity and the interest in VC is really taking off. It's an exciting time to be in Houston and Texas in general."

“Plug and Play’s ventures team is based in Silicon Valley and one thing they enjoy about meeting Houston-based founders is valuations tend to be more reasonable than in the Bay Area."

Payal Patel, director of Plug and Play Tech Center in Houston. "There are gems to be found," she adds.

“I don’t know what it is — if it’s something in the water or just Texans being very friendly, but the investors here share deal flow. It takes a village, and I think we all understand a rising tide lifts all boats."

Patel says on the collaborative nature of Houston. "It's really magical."

“What you’re witnessing is a city that has been waiting for industrial innovation to reach the point where it can be adopted at a really high scale, and that happened around 2017.”

Jon Nordby, managing director at MassChallenge Texas in Houston. Nordby adds that MassChallenge in Houston hasn't been keen on consumer tech, or the "grilled cheese delivery apps," as he describes. "We like companies that are in love with problems, not so much in love with solutions. … We build really meaningful tech."

“Over the last year or two, we’ve seen that sleeping giant get awoken. Open and external innovation is newly adopted by more legacy industries where it wasn’t before — and that’s just created a mountain of opportunities for startups and investors alike.”

Nordby says on the shift toward this meaningful, problem-solving technology, which Houston is full of, as he observes.

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