Skip to main content

NRG Moving Headquarters to Houston, Adding Fortune 500 Energy Company to Region

Published May 06, 2021 by A.J. Mistretta

NRG Stadium

NRG Stadium is home to the NFL Houston Texans, credit Visit Houston

NRG Energy, Inc. announced today that the company is consolidating its headquarters in Houston from its current base in Princeton, N.J. The company cited the diversity of Houston’s professional talent along with the City of Houston’s commitment to its Climate Action Plan, among the key factors driving the decision. 

Texas is already home to the company’s largest employee and customer bases. With the acquisition of Direct Energy, which closed in January, NRG decided this was the right time to move its headquarters to Houston. The company currently has more than 3,000 employees in the greater Houston region and nearly 4,600 nationwide.

"Houston has been a second headquarters for NRG for many years, supporting many of our customers and employees. Today, we are officially designating Houston as NRG’s sole Corporate Headquarters, a step that simplifies our operations," said Mauricio Gutierrez, president and CEO of NRG. "This move has been a part of our strategic plan for some time, and Houston's commitment to climate goals and the electrification of transportation align with our own goals and strategy. Texas is a great place for business, growing at a rapid pace and attracting diverse talent and industries."

The addition of NRG expands Houston’s Fortune 500 headquarters roster to 24 companies, one of the largest in the country. NRG ranked number 324 on the 2020 Fortune 500 list. It’s the second Fortune 500 relocation for Houston in recent months following Hewlett Packard Enterprise’s decision in December to move its base here from California. 

"I welcome today’s announcement by NRG designating Houston as the company’s sole corporate headquarters," said Houston Mayor Sylvester Turner. "Over the past several years, my team and I have had substantive conversations with President and CEO Mauricio Gutierrez. I believe the decision is confirmation that Houston is a smart city for business. Just over one year ago, the City committed to purchasing 100% renewable energy through a renewed partnership with NRG Energy as the City’s retail electric provider. The plan is helping us build a more sustainable future, save over $9 million on our electric bill, and reduce emissions. The corporate decision provides stability for the company’s 3,000 employees currently living in Houston. It means that NRG has committed to being a Texas-based company that will continue to expand. I look forward to strengthening our partnership and continuing to have meaningful discussions about our shared goals and vision for Houston’s future." 

NRG and its subsidiaries generate, sell and deliver power to more than 3.7 million residential and business customers across 10 states. 

The Greater Houston Partnership and leaders from the Houston region conducted a series of visits with the NRG leadership team in recent years, including a key meeting in fall 2019 where a Partnership delegation including Mayor Turner, Bobby Tudor, Jim Fish, and David Leebron, met with NRG’s President and CEO, Mauricio Gutierrez during a business recruiting mission to New York City.

“This is another great win for Houston. NRG is a company that will help us continue to build a vibrant 21st century economy, one that is focused on innovation and technology,” said Partnership Chair Amy Chronis. “Houston has a globally diverse talent base and offers companies like NRG one of the most business-friendly locales in the nation. We are excited NRG’s leadership recognized this and look forward to welcoming the headquarters team to Houston.”

“We’ve always thought of NRG as a hometown company, and now it is official,” said Partnership President and CEO Bob Harvey. “NRG’s headquarters relocation is another milestone moment for Houston and further solidifies our position as a corporate headquarters capital. Houston is committed to leading the global energy transition, and companies like NRG are key to this effort. We are delighted they will lead their business from Houston.”

Learn more about NRG Energy and why companies are choosing to expand and relocate to Houston

Related News

Economic Development

Talent Developers Have New Pipeline to Employers

7/25/22
Talent developers across greater Houston have a new tool to help them directly connect clients without bachelor’s degrees to employers specifically seeking to hire them. The tool, Stellarworx, is a robust talent marketplace designed exclusively for jobseekers Skilled Through Alternative Routes (STARs) – those other than a bachelor’s degree. Stellarworx is now available to help the Houston region’s 1.6 million STARs jobseekers join candidate pools for good jobs through a new collaboration between the nonprofit social enterprise organization Opportunity@Work, the American Petroleum Institute, Chevron, and the Partnership through its UpSkill Houston initiative. “We know that talent developers can struggle to identify players who are actively hiring STARs and spend months build relationships with employers and compete for a limited number of jobs available for STARs,” said Opportunity@Work’s Nicole Daniels in a recent meeting hosted by UpSkill Houston. “The employers on Stellarworx have chosen to come to us because they want to embrace skills-based hiring and they want to hire STARs, and they recognize the diverse skills and perspectives that STARs bring to the table.” STARs account for about 70 million workers nationwide (60 percent of the American workforce) and cut across all demographics and people groups, according to Opportunity@Work. They have developed skills employers seek and value through avenues including community college, military service, and on-the-job training, but are often screened out of talent searches because they do not hold a bachelor’s degree. Thanks to degree requirements used as proxies for skills – or what is called “the paper ceiling” – these workers only have access to about 26 percent of all new jobs created. The paper ceiling has long-lasting effects on workers’ earning power, as it takes a STAR 30 years to reach the wages of a recent college graduate.  Stellarworx is helping change this by providing talent developers an easier way to have their clients recognized by employers hiring for good jobs with good pay and opportunities for career advancement. All jobs posted on Stellarworx come with a minimum wage of $20 per hour, and they all must lead to a career pathway. The talent marketplace: Uses skills-based matching to identify employers and jobs best suited to enrolled STARs. Offers talent developers a one-stop-shop to aggregate labor market supply and demand information. Supports a healthy feedback loop between talent developers and employers to drive better client outcomes long term. Provides talent developers data and insights to track their clients’ career searches. The Stellarworx talent marketplace was launched in late 2020 is currently operating in three U.S. cities (and counting). More than 110 employers utilize the platform to find talent from its 2,100 talented STAR users. Opportunity@Work, which developed the platform, works to rewire the labor market open pathways for STARs to work, learn, and earn to their full potential.  “If they have the skills to do the job, they should be able to get the job,”  the organization’s Bridgette Gray said. Talent developers who are interested in learning more can contact Opportunity@Work’s Nicole Daniels directly at nicole@opportunityatwork.org.   Related: Recognizing Workforce STARs a Competitive Advantage The Partnership’s UpSkill Houston initiative works to strengthen the talent pipeline employers need to grow their businesses and to help all Houstonians build relevant skills and connect to good careers that increase their economic opportunity and mobility. Learn more.
Read More
Economic Development

Houston Earns Top Spot Globally for Cost of Living

7/20/22
Houston ranked No. 1 in the world for local purchasing power, making the city an affordable place to live, according to a new report from online publisher Visual Capitalist.  Purchasing power, a metric used to gauge the number of goods and services someone on an average salary can buy, has become increasingly important to consumers amid rising inflation. The report uses New York City as a benchmark due to its high cost of living to compare both purchasing power and cost of living, or the average day-to-day expenses incurred in a given community. According to the analysis, Houston’s local purchasing power is 73% greater than New York’s. Click to expand Houston’s cost of living is 36.1% lower than the Big Apple. Houston’s cost of living is 16% lower than Los Angeles’ cost of living index at 79.2. In comparison to international cities, Beijing’s cost of living falls 14.4% lower than Houston while Tokyo and London’s cost of living rate ranks 21.7% higher than Houston. Click to expand Patrick Jankowski, the Partnership’s Senior Vice President of Research, predicts consumers will continue to feel inflation well into the end of 2022 and into 2023. The Federal Reserve will meet later this month to discuss another interest rate hike in hopes of quelling inflation. There are hints that inflation may soon start to moderate due to recent dips in prices for corn, wheat, copper, lumber, oil and natural gas.   Learn more about living and working in Houston.
Read More

Related Events

COVID-19

Economy Series: October Economic Update

The Partnership's monthly Economy Series presents exclusive data and examines trends impacting our economy on a local and state level. Analysis by the Partnership's Research Division is frequently used by executives…

Learn More
Learn More