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Partnership Economic Development Efforts Drive Business Growth in the Region

Published Jan 05, 2024 by Hailea Schultz

Skyline of Downtown Houston

2023 proved to be a remarkable year fueled by continued economic growth and development. Houston continued to create jobs and attract businesses from across the globe, earning a few new titles, including the No. 1 Best Place for Foreign Business, the No. 9 Best City in America and the No. 22 Best City to Start a Small Business.  

In the third quarter of 2023, the Partnership reported a total of 161 new business announcements, with 120 companies expanding their Houston-area operations and 41 establishing new operations.  

Additionally, the Partnership supported over 200 projects with 31 businesses relocating or expanding to the Houston area in 2023. Here are a few of the major project wins: 

Cart.com  
Ecommerce unicorn Cart.com announced the relocation of its corporate headquarters to Houston, returning home after spending some time in Austin. The startup was originally founded in Houston in 2020 and has experienced unprecedented growth ever since. The project has a $1 million capital investment and is expected to create 50 new jobs.  

John Cockerill  
John Cockerill Hydrogen, a world leading electrolyzer manufacturer, announced its U.S. entry with the acquisition of manufacturing space in Baytown for a new gigafactory. The facility will create 200 new jobs, have a capital investment of $145 million and produce 1GW per year of electrolyzers. 

Mayekawa 
Mayekawa, a Japanese compressor manufacturer, relocated its U.S. headquarters from Nashville to Brookshire. The move will help to better accommodate the company’s customers in the oil and gas and industrial refrigeration markets. The project has a $14 million capital investment and is expected to create 150 jobs.   

Sino Biological 
Sino Biological, a leading biotech company headquartered in Beijing, China, announced the opening of its Center for Bioprocessing (C4B) at Levit Green, Houston’s 53-acre master-planned life sciences district. The new facility will focus on contract research services, including custom recombinant protein and recombinant antibody development and manufacture. With a $10 million capital investment, the project is projected to create 50 new jobs.  

United Airlines 
United Airlines announced that it will expand its Houston-area footprint by locating its new distribution facility in Humble, near the George Bush Intercontinental Airport (IAH). The facility will have an inventory of $1-2 billion over the course of 15 years. The project is expected to create 60 new jobs and has a capital investment of $38 million.  

Waaree 
Waaree, India’s largest solar panel manufacturing company, announced that it will locate its first U.S. manufacturing plant in Brookshire, where it will produce solar cells with an initial capacity of 3GW per year. The project is expected to create 450 jobs and has a capital investment of $150 million.  

The Partnership actively works to attract businesses to the region, providing potential companies with resources and important information needed to expand or relocate. Get in touch with our team to learn more about Houston.

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