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2019 Houston Economic Outlook

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Houston's Economy Back On Track

2019_Houston_EconOutlook_ExecutiveSummaryHouston ranked among the top-performing U.S. metros last year and has historically been a top 10 metro leading the nation in population and job growth. According to the U.S. Census Bureau, the Houston-The Woodlands-Sugar Land MSA recorded the 3rd largest year-over-year increase in nonfarm payroll employment, recording an increase of 86,200 jobs or 2.8%. Professional and business services added the largest number of jobs from April 2018 to April 2019, up 22,300.

Since the dramatic fall of oil prices that occurred in late 2014, Houston’s economy slowed significantly and grew at a lesser pace in 2015, 2016 and 2017 than its’ average annual rate. Even though Houston’s economy experienced accelerated growth in 2017, it was well below Houston’s potential due to the impact of Hurricane Harvey, which paralyzed the city for several weeks in August 2017. Houston’s resiliency to overcome immense devastation led to an up-tick in consumer spending within weeks after the event and within a years time the city was back in growth mode.

Houston has historically been one of if not the top metro in population growth. Metro Houston area, which consists of nine counties, recorded the third largest numeric population gains in population growth between July 2017 and July 2018 of 91,689 people and added one million new residents between 2010 and 2018, an 18.2% increase. A recent study by the Greater Houston Partnership reports that nearly one in four residents in the Houston region was born outside of the United States. Metro Houston’s population forecasts show Houston’s population growth to increase to 7.1 million by 2020.



Houston’s strategic location and core strengths, including an expanding healthcare sector, cutting-edge medical advancements, technological breakthroughs across industries and strong import/export trade activity (No. 1 U.S. port in foreign tonnage), uniquely position it to play a vital role in meeting national and global market demands. Houston has and will continue to stand as a global leader among U.S. metros and the world.



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Sections Covered:

Population Growth | Employment Sector | Business Climate | Global Energy Capital | Petrochemical & Plastics Industry | Port Houston | NASA/Johnson Space Center | Mobility Infrastructure | Airport System | Texas Medical Center | Biosciences & Biotechnology



2019 Houston Economic Outlook

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Lisa Bridges

Director of Market Research


Lisa joined Colliers in 2010 as Director of Market Research and has 37 years of commercial real estate experience. Lisa initiates proactive market research projects to further the business goals of the company. She writes and prepares 29 market reports annually, including quarterly reports on Houston's retail, office, industrial and healthcare properties.  Further, she prepares statistical ownership reports for various clients as well as an annual Houston Economic Overview. Lisa also creates PowerPoint market presentations, trade journal articles, and other marketing materials supporting the company's business endeavors. She works with senior management in planning the company's marketing strategy and public relations support for local and national conferences, luncheon meetings, recruitment programs, and special events.  Lisa works closely with the company's brokers to develop effective custom market research material specific to existing and potential clients.

Lisa serves on the Colliers Editorial Board, the Colliers U.S. Research Council, and is a recipient of the Colliers Researcher of the Year Award.

Lisa earned the Commercial Property Research Certification (CPRC) from Colliers University.  CPRC is the first and only accreditation for commercial real estate research professionals. It offers a professional development path to increase strategic and tactical expertise in marketing/research, knowledge of the industry and capabilities with commercial real estate tools.

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