2. Population, Employment and Income (Major Texas Metros)
Millions
7.00
6.44
Population 6.00
5.90
(2009) 5.00
4.00
Source: STDB Online
2009 ESRI 3.00
2.00
2.07
1.69
1.00
0.00
Dallas - Ft Worth Houston San Antonio Austin
$90,000
Average $84,735
$80,000
Household US Ave HH Income ($71,437)
$70,000
Income (2009) $60,000
$83,209
$77,012 $63,850
$50,000
Source: STDB Online
$40,000
2009 ESRI
$30,000
$20,000
$10,000
$0
Dallas - Ft Worth Houston San Antonio Austin
Page 2
3. Population, Employment and Income (Major Texas Metros)
000’s
Dallas Houston Fort Worth San Antonio Austin
0 1.0%
-1
2009 Annual -10 -6
Jobs Gains: -14
-20 0.0%
Actual & %
Change -30 -0.2%
-40 -0.7% -1.0%
Source: Texas Labor Market -50 -45
Information ‐ Tracer website:
LMCI Economic Profiles (June -60 -1.6% -2.0%
2009) [July ‘08 to June ‘09]
-2.1% -70
-70
-80 -2.7% -3.0%
000’s
3,000 10.0%
8.0% US Unemployment (9.7%)
8.1% 8.3% 9.0%
Total Non‐Ag 2,500
7.1% 8.0%
6.9%
Jobs & Annual 7.0%
2,000
Unemployment 6.0%
% 1,500 5.0%
2,621
4.0%
Source: Texas Labor Market 1,000 2,123
3.0%
Information ‐ Tracer website:
LMCI Economic Profiles (June 2.0%
500 883 862
2009) 780
1.0%
As of June 2009, the overall Texas
Unemployment rate stood at 8.0% 0 0.0%
Dallas Houston Fort Worth San Antonio Austin
Page 3
4. Population, Employment and Income
Texas Metro Area Population & Demographics
2009
National Average
MSA Household
Metropolitan Area Ranking Population Income
Da ll a s ‐Ft Worth‐Arl i ngton 4 6,436,964 $83,209
Hous ton‐Suga r La nd‐Ba ytown 6 5,904,050 $77,012
Sa n Antonio 28 2,070,440 $63,850
Aus ti n‐Round Rock 37 1,690,631 $84,735
El Pa s o 68 764,168 $51,067
McAl l en‐Edi nburg‐Mi s s i on 70 756,510 $41,649
Corpus Chris ti 115 421,939 $57,327
Browns vi l l e‐Ha rl i ngen 128 408,253 $43,709
Ki l l een‐Templ e‐Ft Hood 131 389,964 $58,107
Bea umont‐Port Arthur 134 384,000 $55,055
Lubbock 167 272,554 $54,447
La redo 181 249,277 $47,529
Ama ri l lo 184 246,179 $58,141
Wa co 190 229,890 $54,168
Longvi ew 200 207,509 $53,513
Col lege Sta ti on‐Brya n 201 207,431 $52,556
Tyl er 207 202,787 $59,490
Abi l ene 252 161,642 $53,206
Wi chi ta Fa l l s 271 149,498 $54,065
Texa rka na /TX‐AR 296 136,858 $52,194
Odes s a 310 132,503 $50,283
Mi dl a nd 317 128,606 $66,763
Sherma n‐Deni s on 330 120,726 $56,825
Vi ctori a 344 115,936 $57,169
Sa n Angel o 362 106,721 $53,691
Source: US Bureau of the Census - 2000 Census of Population & Housing. ESRI Forecast for 2009.
Page 4
6. Major Texas Office Markets Summary
Million SF Occupancy %
Total Inventory
And 400 100%
Occupancy
95%
300 314
88.7% 90%
255
84.7%
200 83.2% 85%
86.0%
80%
100
Total Inventory 77 75%
Occupancy Rate 61
- 70%
Dallas/Fort Houston San Antonio Austin
Worth
Million SF
2009 Y‐T‐D Net Absorption
6 3.0%
2009 Current Construction
And 5
2.5%
4.7
Current Construction 4
As a % of Total SF 3
3.5 1.8% 2.0%
2 1.3% 1.5%
1.1%
1 1.0%
1.0%
0.1 0.8 0.8
0.4
0
-0.3 -0.7
0.5%
Absorption -1
Current Construction
-2 0.0%
Current Const As a Dallas/Fort Houston San Antonio Austin
Worth
% of total SF
Page 6
7. Major Texas Office Markets Summary
Dallas/Ft. Worth San Antonio
Total Inventory SF: 314,290,090 Total Inventory SF: 60,800,962
Current Occupancy%: 83.1% (as of Mid‐Year 2009) Current Occupancy%: 88.7% (as of Mid‐Year 2009)
The DFW Office market ended the 2nd Qtr 2009 with a va‐ The San Antonio Office market ended the 2nd Qtr 2009 with
cancy rate of 16.9%. a vacancy rate of 11.3%.
The vacancy rate was up from the previous quarter, with The vacancy rate was up over the previous quarter, with
net absorption totaling negative (507,096) SF in the 2nd Qtr. net absorption totaling positive 612,133 SF in the 2nd Qtr.
Vacant sublease space increased in the 2nd Qtr, ending at Vacant sublease space decreased in the 2nd Quarter, ending
2.71 million SF. at 600,565 SF.
Quoted rental rates ended the 2nd Qtr at $20.19 PSF (full‐ The citywide average quoted rental rate (for all classes)
service gross), a slight decrease from the previous quarter. increased to $18.55 PSF on an annual full‐service basis at
A total of 28 buildings delivered in the quarter totaling the end of the 2nd Qtr 2009, representing a slight improve‐
686,789 SF, with 3.52 million SF still under construction at ment over the previous quarter.
the end of the 2nd Quarter. During the 2nd Qtr 2009, 7 buildings delivered to the market
In the first quarter, 6 office building transactions reported with 773,926 SF.
an average sales price per SF of $101.80. Reported cap 776,970 SF of office space remained under construction at
rates were higher in 2009, averaging 9.90% compared to the end of the 2nd Qtr 2009.
the same period in 2008 when they averaged 8.29%.
Houston Austin
Total Inventory SF: 254,603,655 Total Inventory SF: 77,212,005
Current Occupancy%: 86.0% (as of Mid‐Year 2009) Current Occupancy%: 84.7% (as of Mid‐Year 2009)
The Houston Office Market ended the 2nd Qtr 2009 with a The Austin Office market ended the 2nd Qtr 2009 with a
vacancy rate of 14.0%. vacancy rate of 15.3%.
The vacancy rate was up over the previous quarter, with net The vacancy rate was up over the previous quarter, with net
absorption totaling negative (97,834) SF in the 2nd Qtr. absorption totaling negative (933,024) SF in the 2nd Qtr.
Vacant sublease space increased in the 2nd Qtr, ending at Vacant sublease space increased in the 2nd Qtr, ending at
2,507,243 SF. 792,346 SF.
The citywide average quoted rental rate (for all classes) fell The citywide average quoted rental rate (for all classes) was
to $23.26 PSF on an annual full‐service basis at the end of $25.57 PSF on an annual full‐service basis at the end of the
the 2nd Qtr 2009, a slight decrease from the previous quar‐ 2nd Qtr 2009, representing a slight increase over the previ‐
ter. ous quarter.
During the 2nd Qtr 2009, 21 buildings totaling 1,474,991 SF During the 2nd Qtr 2009, 3 buildings totaling 100,644 SF
delivered to the Houston market area. delivered to the Austin market.
There were 4.68 million SF of office space under construc‐ There were 772,843 SF of office space under construction at
tion at the end of the 2nd Qtr 2009. the end of the 2nd Qtr 2009.
In the first 3 months of 2009, 4 office building transactions In the first three months of 2009, the market saw 1 office
reported an average sales price per SF of $63.25. Reported sales transaction with a total volume of $38 million and an
Cap Rates were higher in 2009, averaging 9.80% compared average sales price of $184.09 PSF.
to the same period in 2008 when they averaged 7.66%. Cap rates have been higher in 2009, averaging 9.0% com‐
pared to the same period in 2008 when they averaged
5.92%.
Page 7
8. Major Texas Retail Markets Summary
Million SF Occupancy %
Total Inventory
And 400 100%
Occupancy
95%
337 92.6% 92.4%
300 90.6%
90%
90.5% 291
200 85%
80%
100 115
Total Inventory 75%
66
Occupancy Rate
- 70%
Dallas/Fort Houston San Antonio Austin
Worth
Million SF
2009 Y‐T‐D Net Absorption
6 2.0%
2009 Current Construction
And 5
Current Construction 4
1.5%
4.2
As a % of Total SF 1.3% 1.1%
3
1.0%
2 0.7%
2.0
0.5%
1 1.3
0.5%
0.7 0.8 0.8
0.4
Absorption 0
-0.1
Current Construction
-1 0.0%
Current Const As a Dallas/Fort Houston San Antonio Austin
Worth
% of total SF
Page 8
9. Major Texas Retail Markets Summary
Dallas/Ft. Worth San Antonio
Total Inventory SF: 336,700,322 Total Inventory SF: 115,211,167
Current Occupancy%: 90.5% (as of Mid‐Year 2009) Current Occupancy%: 92.6% (as of Mid‐Year 2009)
The DFW Retail market experienced a slight decline in mar‐ The San Antonio Retail Market experienced a slight im‐
ket conditions in the 2nd Qtr 2009. The vacancy rate went provement in market conditions in the 2nd Qtr 2009. The
from 9.3% in the previous quarter to 9.5% in the current vacancy rate went from 7.7% in the previous quarter to
quarter. 7.4% in the current quarter.
Net absorption was positive 166,491 SF, and vacant sublease Net absorption was positive 1,001,928 SF in the 2nd Qtr and
space decreased by 362,191 SF. vacant sublease space decreased by 92,970 SF.
Quoted rental rates (all classes) decreased from 1st Qtr 2009 Quoted rental rates decreased from 1st Qtr 2009 levels,
levels, ending at $14.43 PSF (NNN). ending at $15.73 PSF (NNN).
A total of 32 retail buildings with 977,934 SF of retail space A total of 11 retail centers with 714,293 SF of retail space
delivered to the market in the quarter. delivered to the market in the quarter.
There were 4.25 million SF still under construction at the end There were 1.31 million SF still under construction at the
of the 2nd Qtr 2009. end of the 2nd Qtr 2009.
In the first quarter, the market recorded 12 retail sales trans‐
actions with an average price per SF of $104.59. Reported
Cap Rates have been higher in 2009, averaging 8.89%, com‐
pared to the same period in 2008 when they averaged
8.05%.
Houston Austin
Total Inventory SF: 290,530,154 Total Inventory SF: 66,192,584
Current Occupancy%: 90.6% (as of Mid‐Year 2009) Current Occupancy%: 92.4% (as of Mid‐Year 2009)
The Houston Retail market experienced a slight decline in The Austin Retail market experienced a slight decline in
market conditions in the 2nd Qtr 2009. The vacancy rate market conditions in the 2nd Qtr 2009. The vacancy rate
went from 9.0% in the previous quarter to 9.4% in the cur‐ went from 7.3% in the previous quarter to 7.6% in the cur‐
rent quarter. rent quarter.
Net absorption was negative (244,613) SF, and vacant sub‐ Net absorption was negative (35,864) SF, and vacant sub‐
lease space decreased by 200,050 SF. lease space decreased by 97,400 SF.
Quoted rental rates (all classes) decreased from 1st Qtr 2009 Quoted rental rates (all classes) increased from 1st Qtr 2009
levels, ending at $15.53 PSF (NNN). levels, ending at $20.48 PSF (NNN).
A total of 14 retail buildings with 766,810 SF of retail space A total of 9 retail centers with 127,972 SF of retail space
delivered to the Houston market in the 2nd Qtr. delivered to the Austin market in the quarter.
There were 1.97 million SF still under construction at the end There were 355,909 SF of retail space still under construc‐
of the 2nd Qtr 2009. tion at the end of the 2nd Qtr 2009.
In the first 3 months of 2009, the market recorded 4 retail In the first 3 months of 2009, the market saw 1 retail sales
sales transactions with an average price per SF of $78.22. transaction with an average price PSF of $109.65. Cap rates
Reported cap rates were higher in 2009, averaging 8.38%, have been slightly lower in 2009, averaging 7.25% com‐
compared to the same period in 2008 when they averaged pared to the same period in 2008 when they averaged
7.52%. 7.46%.
Page 9
10. Major Texas Industrial Markets Summary
Million SF Occupancy %
Total Inventory
And 800 100%
Occupancy 700 746
95%
600
93.0%
90%
500 90.5%
88.7% 481
400 86.9% 85%
300
80%
200
Total Inventory 75%
100
Occupancy Rate 99 82
- 70%
Dallas/Fort Houston San Antonio Austin
Worth
Million SF
2009 Y‐T‐D Net Absorption
3 1.0%
2009 Current Construction
And 2.4
0.5%
2.6
2
Current Construction 0.3%
0.5%
As a % of Total SF 0.2%
1 0.1%
0.0%
0.1 0.1 0.1
0
0.0
-0.6
-0.5%
-1
Absorption -1.5
Current Construction
-2 -1.0%
Current Const As a Dallas/Fort Houston San Antonio Austin
Worth
% of total SF
Page 10
11. Major Texas Industrial Markets Summary
Dallas/Ft. Worth San Antonio
Total Inventory SF: 745,531,117 Total Inventory SF: 99,160,967
Current Occupancy%: 88.7% (as of Mid‐Year 2009) Current Occupancy%: 90.5% (as of Mid‐Year 2009)
The DFW Industrial market ended the 2nd Qtr 2009 with a The San Antonio Industrial market ended the 2nd Qtr 2009
vacancy rate of 11.3%. with a vacancy rate of 9.5%. The vacancy rate was up over
The vacancy rate was up over the previous quarter, with the previous quarter, with net absorption totaling negative
net absorption totaling negative (753,203 SF) in the 2nd Qtr. (173,936) SF in the 2nd Qtr.
Vacant sublease space decreased in the quarter, ending the Vacant sublease space increased in the 2nd Qtr, ending the
2nd Qtr at 3.69 million SF. quarter at 485,180 SF.
Quoted rental rates ended the 2nd Qtr at $4.61 PSF (NNN), Quoted rental rates ended the 2nd Qtr at $5.67 PSF (NNN), a
a decrease from the previous quarter. slight decrease from the previous quarter.
A total of 14 buildings delivered to the DFW market in the A total of 3 buildings delivered to the market in the quarter
quarter totaling 3.39 million SF. totaling 330,825 SF.
There were 2.44 million SF of industrial space under con‐ There were 70,159 SF of industrial space under construction
struction at the end of the 2nd Qtr 2009. at the end of the 2nd Qtr 2009.
In the 1st Qtr of 2009, the market saw 7 industrial sales
transactions with an average price PSF of $36.09. Cap rates
have been higher in 2009, averaging 10.88% compared to
the same period last year when they averaged 8.61%.
Houston Austin
Total Inventory SF: 481,430,107 Total Inventory SF: 81,622,289
Current Occupancy%: 93.0% (as of Mid‐Year 2009) Current Occupancy%: 86.9% (as of Mid‐Year 2009)
The Houston Industrial market ended the 2nd Qtr 2009 with The Austin Industrial market ended the 2nd Qtr 2009 with a
a vacancy rate of 7.0%. The vacancy rate was up over the vacancy rate of 13.1%. The vacancy rate was up over the
previous quarter, with net absorption totaling negative previous quarter, with net absorption totaling negative
(4,106) SF in the 2nd Qtr. (775,526) SF in the 2nd Qtr.
Vacant sublease space increased in the 2nd Qtr, ending the Vacant sublease space decreased in the 2nd Qtr, ending the
quarter at 1,222,586 SF. quarter at 277,094 SF.
Quoted rental rates ended the 2nd Qtr at $5.72 PSF (NNN), Quoted rental rates ended the 2nd Qtr at $7.37 PSF (NNN),
an increase over the previous quarter. an increase over the previous quarter.
A total of 34 buildings delivered to the market in the quar‐ During the 2nd Qtr 2009, a total of 2 buildings delivered to
ter totaling 1.61 million SF. the market totaling 138,825 SF.
There were 2.55 million SF of industrial space under con‐ There were 123,148 SF of industrial space under construc‐
struction at the end of the 2nd Qtr 2009. tion at the end of the 2nd Qtr 2009.
In the first quarter of 2009, the market saw 6 industrial In the first 3 months of 2009, the market saw 1 industrial
sales with an average price per SF of $61.98. Cap rates sales transaction averaging $58.89 PSF. Cap rates have
have been higher in 2009, averaging 9.00% compared to been lower in 2009, averaging 7.75% compared to the first
the same period last year when they averaged 8.38%. three months of last year when they averaged 8.21%.
Page 11
12. Major Texas Multifamily Markets Summary
Thousands (Units) Occupancy %
Total Inventory
800 100%
And
Occupancy 700
95%
600
89.3% 87.4% 89.6%
88.9% 90%
500
557
543
400 85%
300
80%
200
Total Inventory 75%
100 129
Occupancy Rate 121
- 70%
Dallas/Fort Houston San Antonio Austin
Worth
Thousands (Units)
2009 Y‐T‐D Net Absorption
8%
2009 Current Construction 25
7.5%
And 24
25 7%
Current Construction 20 6%
As a % of Total SF 15 5.4% 5%
4.6%
4.3% 4%
10 11
3%
5 7
2%
0
Absorption -0.7 -0.2 -0.1 -0.5 1%
Current Construction
-5 0%
Current Const As a Dallas/Fort Houston San Antonio Austin
Worth
% of total SF
Page 12
13. Major Texas Multifamily Markets Summary
Dallas/Ft. Worth San Antonio
Total # of units: 556,996 Total # of units: 121,300
Current Occupancy%: 89.30% (as of February 2009) Current Occupancy%: 88.87% (as of February 2009)
The DFW market continues to see occupancy levels fall, The San Antonio apartment market has hit the ceiling in
resulting in stagnating rents over the past four months. terms of rents. The increase in vacancy rates have forced
With mounting lay‐offs expected to occur within major communities to begin lowering rents as opposed to simply
corporations in the Dallas area, north Texas is feeling the increasing concessions and the results are market average
impacts of the economic slowdown. declines in both square foot and per unit metrics.
As apartment occupancy continues to decline, look to see Absorption continues its negative trend on both an annual
communities offer more concessions as they attempt to and monthly basis, indicating that pressure on rents is not
stabilize occupancy. This increase in concessions will have a over. Monthly absorption in February stands at negative
negative impact on turnover rate, as residents that are un‐ (152) units with Y‐T‐D absorption also being negative at
able to afford full market rents will undoubtedly turn to the (104) units.
next best special at a neighboring project. San Antonio apartment market occupancy decreased 0.14
Absorption in February was negative (168) units, while an‐ points over the month, and is down 2.15 points over the
nual absorption stands at 680 units. last twelve month period to 88.87%.
Rental rates per unit posted a monthly decrease declining Rental rates PSF decreased $0.001 in February to $0.856
$0.57 to $758.50. Over the last twelve months, rent per unit PSF, but remain $0.006 above last year’s level.
has increased $10.74. At $692.48 rent per unit reported a monthly decrease of
The average rent PSF increased $0.009 PSF over the past $0.66, although they are still up $5.62 over the last year.
year to a rate of $0.89 PSF. As of February 2009, there are 6,533 units under construc‐
Ongoing construction in DFW climbed to 24,069 units at the tion with 7,060 units in the planning stage.
end of February 2009, with an additional 19,918 units in the
planning stage.
Houston Austin
Total # of units: 543,417 Total # of units: 129,142
Current Occupancy%: 87.38% (as of June 2009) Current Occupancy%: 89.63% (as of February 2009)
The overall vacancy rate increased slightly to 12.62%, from The Austin area MF market continued to struggle during
a rate of 12.55% in the previous month. February, as occupancy declined by over half a point and
The Houston apartment market continues to show mixed rents remained flat after months of steady increase.
signals as rents climb while occupancy declines. Many pro‐ Austin’s MF market occupancy decreased 0.57 points to
posed apartment communities are being transitioned to 89.63% and has fallen 3.62 points since this same time last
“hold” status while a large portion of developers are seek‐ year.
ing agency loans in order to obtain financing in this chal‐ The average rent PSF has stabilized at $0.99 and has gained
lenging marketplace. $0.01 PSF over the past twelve months.
Overall rents stand at $0.88 PSF. Class “A”: $1.165 PSF Average rent per unit posted an increase of $0.32 in Febru‐
(down slightly from May’s rate); Class “B” remains steady at ary; currently at $829.96, rent per unit is up $13.62 over
$0.83 PSF; Class “C” also remained steady at $0.71 PSF and the past year.
Class “D” rates declined slightly to $0.71 PSF. Austin posted negative absorption in February of (399)
Pre‐leasing is currently underway in thirty‐two communities units, bringing annual absorption to negative (485) units.
containing a projected 9,164 units city‐wide. There are currently 11,090 units under construction
Overall occupancy is expected to slip further as these new throughout the Austin area.
communities lease‐up, while rental rates are anticipated to There are 14,752 units in the planning stage in the Austin
continue increasing at a steady pace. area market.
As of February 2009, there are 25,162 units under construc‐
tion and 10,721 units in the planning stage.
Page 13
16. Interesting Quotes
DALLAS/FORT WORTH
DFW to lead in construction starts
(Mixed‐Use: Dallas‐Fort Worth‐Arlington) 7/16/2009
Dallas‐Fort Worth is predicted to lead Texas in starts, according to a report by McGraw‐Hill Construction. The 2009 forecast calls for $14.1 billion
in construction starts in North Texas, compared to $12.5 billion in the Houston‐Sugar Land‐Baytown area, $4.9 billion in San Antonio and $4.4
billion in Austin. Those figures represent a 12 percent decrease in DFW construction compared to 2008.
The $14.1 billion in DFW includes:
$4.2 billion in residential construction,
$6.3 billion in nonresidential, and
$3.6 billion in non‐building construction – according to the forecast.
Construction starts in Texas this year are expected to fall by 21 percent to $49.8 billion, the steepest drop since 1967.
[Dallas Business Journal]
Fort Worth is tenth fastest‐growing city in the nation
(Demographics: Dallas‐Fort Worth‐Arlington) 6/30/2009
(Fort Worth) ‐ Fort Worth was the tenth fastest‐growing city in the country in 2008, and three other Texas towns were in the top ten, according to
U.S. census population estimates released Tuesday.
Texas was well‐represented among the fast gainers. Round Rock, north of Austin, was number two on the list with a gain of 7,877 residents.
McKinney was number five and Killeen was number nine on the growth chart of cities with populations over 100,000.
However, Fort Worth, which added 24,413 residents over the 12‐month period and grew to 703,073, stands out in the crowd, census demogra‐
pher Greg Harper said. "If you look at the ten fastest‐growing cities, Fort Worth is number ten, but it is by far the largest city among the ten,"
Harper said. "It is growing at 3.6 percent over that time, and it is a little unusual to see a city of that size among the fastest‐growing. If you look at
the top 25, it is still the largest city among those cities in terms of percent change from 2007 to 2008."
In Dallas, an increase of 13,538 people made for a total population of 1,279,910.
[Star‐Telegram]
DFW ranks tenth in global competitiveness
(Economy: Dallas‐Fort Worth‐Arlington) 4/27/2009
Fueled by a strong business climate, the Dallas‐Fort Worth area ranked tenth in global competitiveness among 21 international metropolitan re‐
gions, according to a report by the Dallas Regional Chamber.
Dallas‐Fort Worth’s low costs of doing business and low business taxes were the region’s strongest assets, whereas creating a more robust talent
base is the region’s biggest challenge, according to the findings of “Global DFW.”
Dallas tied for tenth place with Houston, the only other Texas metro area on the list. Tokyo, New York, Paris, Toronto and London made up the
top five.
A panel of economists prepared the report for the Dallas Regional Chamber. The goal of the two‐year study is to create a better understanding of
the region’s competitive position in the global economy.
The region’s wave of globalization started in the mid‐1970s when Dallas and Fort Worth began to merge around the newly opened Dallas‐Fort
Worth International Airport, said Lyssa Jenkens, chief economist and vice president of Business Information & Research for the Dallas Regional
Chamber. Since then, easy access to the region, its business climate and a strong quality of life have made Dallas‐Fort Worth increasingly competi‐
tive in the global economy.
“If the question is, ‘does globalization matter,’ the answer for Dallas‐Fort Worth is, ‘Yes, it’s who we are,” Jenkens said. “DFW is the product of
globalization.”
Dallas Regional Chamber of Commerce.
Page 16
17. Interesting Quotes
HOUSTON
Houston shines in economic survey
(Economy: Houston‐Sugar Land‐Baytown) 6/17/2009
(Houston) ‐ Houston is one of the strongest‐performing metro areas in the nation, according to a new study from the Brookings Institution.
The Bayou City is ranked No. 4 in the Washington D.C.‐based MetroMonitor report on the economic performance of the 100 largest metropolitan
areas during the recession through the first quarter 2009.
Houston is one of four Texas cities in the top five. San Antonio leads the list, followed by Oklahoma City and Austin, while Dallas comes in fifth
place.
The rankings were based on four indicators: Percent employment change from peak quarter to first quarter 2009; percent change in unemploy‐
ment rate from March 2008 to March 2009; percent gross metropolitan product change from peak quarter to first quarter 2009; and percent
change in housing prices from first quarter 2008 to first quarter 2009.
Specializations in energy and government, large amounts of federal hurricane recovery funding for the Gulf Coast, and smaller increases in hous‐
ing prices during the early and mid‐2000s were among the likely reasons why the Southwest, including Texas, performed better economically
than other metro areas, the report said.
[Houston Business Journal]
Houston No. 1 in nation for manufacturing
(Industrial: Houston‐Sugar Land‐Baytown) 5/22/2009
Houston ranks first among U.S. cities for number of manufacturing plants and related jobs, according to the 2009 Texas Manufacturers Register.
Houston ranks above that of New York, Chicago and Los Angeles. Manufacturing has emerged as a top employer and thriving business in Texas
also.
According to the 2009 Texas Manufacturers Register, Houston boasts 3,957 manufacturers employing 221,697 workers. Texas as a whole is home
to 23,589 manufacturers employing 1,218,586 workers.
"Houston's combination of low cost living, favorable business climate, educated workforce and proximity to the oil industry has made it the
choice of many manufacturers and other Fortune 500 companies," says Tom Dubin, President of Manufacturers' News.
MNI reports industrial machinery and equipment manufacturing is Houston's top sector, accounting for 58,716 of the city's manufacturing jobs or
27 percent with virtually no change in employment reported over the year survey year, which runs from April 2008 to April 2009. Oil & gas extrac‐
tion ranks second with 30,584 jobs, up 7.8 percent over the year while third‐ranked fabricated metals account for 28,903, down 5.4 percent.
According to the industrial directory, Dallas ranks second in the state for industrial jobs, with 89,819 workers, and ranks sixth in the nation for
industrial employment. Fort Worth is third with 67,283 jobs, while fourth‐ranked San Antonio is home to 53,196. Austin accounts for 42,434 of
Texas' industrial jobs, according to MNI.
[PRNewswire]
Houston earns top spot in nation for corporate growth
(Economy: Houston‐Sugar Land‐Baytown) 3/9/2009
(Houston) ‐ Houston’s domination in the energy sector and its ability to land huge technology deals drove the city to the number one spot for the
first time on Site Selection magazine’s list of Top Metro rankings for corporate location and expansion activity. Site Selection said Houston
clinched the top spot after scoring 179 corporate real estate deals in 2008, unseating three‐year incumbent Chicago‐Naperville‐Joliet.
Dallas‐Fort Worth‐Arlington finished second with 156 projects, and Chicago came in third with 138. Last year, Houston was fourth behind Cincin‐
nati and St. Louis for cities with more than 1 million in population.
[Houston Business Journal]
Page 17
20. Houston San Antonio / Austin
1300 Post Oak Blvd., Suite 1200 Pacific Plaza, Suite 604
Houston, TX 77056 14100 San Pedro Ave.
(713) 871‐5800 San Antonio, TX 78232
(210) 828‐2112
www.q10kdhco.com
2009 Mid‐Year