Published May 16, 2019 by A.J. Mistretta
Houston’s economy has become increasingly tied to global forces in recent decades. From trade to foreign investment, the local region is now a center of international activity—one that’s expected to continue to strengthen in the years to come.
The factors affecting the region’s international connections will be front and center at the Partnership’s annual Houston’s Global Economy event set for June 13. Jack Fusco, President and CEO of Cheniere Energy, will give the luncheon keynote and Partnership Senior Vice President of Research Patrick Jankowski will present his take on Houston’s international trade and investment ecosystem.
“In the last few years, Houston has faced a significant downturn in the oil and gas sector and a major hurricane,” Jankowski said. “But we’ve been able to successfully weather these events because our ties to the global economy have made us more resilient.”
Here are just a few of the reasons why companies conducting business internationally should attend Houston’s Global Economy:
Houston leads the nation in exports, sending goods and commodities produced in the U.S. to destinations around the world. Just over 17% of Houston’s overall economy is tied to exports, according to the most recent data available. The presentation will include an analysis of Houston’s top trading partners and give perspective to the role trade plays in the region’s economy.
The number of foreign-owned companies investing in the Houston region has grown significantly in recent years. Today, foreign direct investment (FDI) prospects represent about 40% of all economic development projects the Partnership works on. FDI projects are sought after since they often come with competitive salaries and help diversify the local economy. Jankowski will discuss the current FDI landscape in Houston and its likely trajectory.
Roughly 1-in-4 Houston residents is foreign born, but there are often misperceptions about this segment of the population. Jankowski will give an overview of the region’s international population growth over the last decade and share insight on this important demographic. “One of the positives of being a global city is the exchange of culture and ideas that comes from a diverse, international population,” he said.
Fusco with Cheniere will share insight into how that company operates in a global market. He’s also expected to discuss doing business in China and Cheniere’s growing LNG interests along the Gulf. The escalating trade war between the U.S. and China and the potential fallout will almost certainly be among the topics on the table.
As part of the morning session prior to the luncheon, there will be a panel discussion among local experts on foreign trade and investment. The panel will include Amy Chronis, Managing Partner, Deloitte; Brenda Mainwaring, Vice President of Public Affairs, Union Pacific Railroad Co.; and Jason Stevens, President and Chief Executive Officer, Mitsubishi International Corp. The three will share their perspectives on the global economy and the obstacles their firms have overcome in expanding their work overseas.
Click here to register to attend Houston's Global Economy on June 13.