Market Profile: Houston

The city of Houston, Texas, currently is enjoying an economy that is considerably healthier than that of the rest of the US. In the 1980s, with the oil price bust, Houston lost about 250,000 jobs. Now in its 5th year of recovery, Houston has regained all of those jobs and then some. It is the US...

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Bibliographic Details
Published in:Advertising Age 1991-07, Vol.62 (29), p.M1
Main Author: Burgower, Barbara
Format: Article
Language:English
Subjects:
Cities
Economic growth
Minority & ethnic groups
Profiles
Space shuttle
Statistical data
Target markets
Online Access:Get full text
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Summary:The city of Houston, Texas, currently is enjoying an economy that is considerably healthier than that of the rest of the US. In the 1980s, with the oil price bust, Houston lost about 250,000 jobs. Now in its 5th year of recovery, Houston has regained all of those jobs and then some. It is the US' oil capital, with more than 5,000 energy-related companies represented. The fastest growing sectors of Houston's economy are business services, medical services, and engineering services. The Johnson Space Center, which is responsible for the space shuttle program, pumps about $1 billion into the economy each year. In 1992, Space Center Houston, a $70-million tourist attraction, will open, hopefully contributing $100 million to the Houston economy in its first year. Shipping also is integral to Houston; the Port of Houston ranks 2nd in foreign tonnage and 3rd nationally in total tonnage. For retail sales, the city is expected to rank among the top 10 markets nationally through at least 1994.
ISSN:0001-8899
1557-7414