Houston is the nation’s fifth-largest office market, with 213 million square feet of net rentable area. Roughly 2 million square feet of new office space is currently being developed. The region is also the sixth-largest market for industrial space with roughly 510 million-square-feet of supply and another 3.3 million square feet under construction.
Texas is a right-to-work state, ensuring a choice among quality union and non-union skilled labor. State right-to-work laws secure the right of employees to decide whether to join or financially support a union. Union activity has slowed dramatically in the Houston region.
The majority of Texas enjoys a deregulated energy market, thus providing electricity customers with a selection of retail providers and open market competition. For the majority of the Houston region, electric power is provided by CenterPoint Energy, the local PUC-regulated Transmission and Distribution Utility or “local wires company.” Centerpoint Energy's assets total more than 22.8 billion. Water supply now available or under development will meet Houston’s needs beyond 2035.
Houston’s tax structure makes it a low cost center for doing business. See Taxes & Incentives