Houston and TX dominate Fortune's 100 Fastest-Growing Companies
Fortune recently released their 2007 list of the 100 Fastest-Growing Companies, and there's a pretty stunning domination by Texas and Houston. We all know there's an energy boom, but it's stats like this that really drive it home.- Texas has the most with 32 of the top 100. California is in distant second place with 11.
- West Coast + Northeast combined only have 30; that's CA, OR, WA, HI, AK, ME, NH, VT, NY, NJ, CT, MA, RI, PA, DE, MD combined.
- It's not even close within Texas. The Houston metro area has 19 of the 32 Texas companies (17 inside the city + The Woodlands and Alvin). San Antonio 3, Dallas and Ft. Worth 2 each (although more in the metro), and only one in Austin.
- The three other Big 4 states - California, NY, and Florida - combined have only 18. That's less than Houston alone, which is simply incredible.
Thanks to Brian for the heads up and most of the analysis. Have a great weekend.
Labels: companies, economy, energy, growth, headquarters, rankings
posted by Tory Gattis @ 10:51 PM
6 Comments:
Information such sa this, really does turn the heads of CEOs all over the country. There are many cities who wish they would be in our position.
And somehow people claim that we don't have the quality of life to attract lots of new residents, jobs, and new businesses.
A good stat, but not a single non-energy company on the list! Great diversification!
So, what happens if energy prices go down, or alternative energy use increases significantly? Granted, this won't be an issue for Houston in the next 5 years or so, but could be a problem over the next 10-20.
Michael,
Houston is growing rapidly in some non energy areas also. The seaport is seeing good growth and this even before the Panama Canal is expanded. The medical center seems to be adding new research and facilities. There is a good chance that in 5-10 years the Houston Area will still be prospering and growing. Texas in general seems to be on the up and up, but your correct we have to think and keep working hard to allow for prosperity and opportunity regardless of external events. One good idea already pointed out here is to invest correctly in the basic infrastructures that make the future more secure, our ports, roads, electric, water, drainage systems. With solid infrastructure investments our future, whatever the price of oil, will be better.
Anon,
Agreed with your comments - I'm just saying that the list is not much different than you would have seen in the 1970's as far as Houston is concerned. I think we are better prepared for a downturn than in the 1980's, but this sort of list makes me question that a bit.
-Mike
Yeah, what's the Texas joke from the 80s: "O Lord, just give me one more oil boom - I promise not to piss it all away this time." Houston's definitely growing substantially (some may even say propping up the national economy!), but as an economic developer, I'm not sure it's truly sustainable. However, Houston is a much more diversified economy, with rapidly growing alt. energy, biotech & health services, and aerospace industries. Houston must be careful not to get cocky - things can always change quickly, and Houston isn't an eternal lock for energy company headquarters.
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