Houston's high concentration of energy expertise and experience has meant a large number of relocations to the Houston region since Shell left New York for Houston in 1971. In Houston, you'll have access to three million workers and more engineers than any other U.S. metro. With more than 500 exploration and production firms, 800 oilfield service companies and more than 90 pipeline transportation establishments, Houston is truly the Energy Capital of the World.
Additionally, new energy technologies such as hydraulic fracturing and deep-water offshore technology began or are centered in Houston. On top of this, Houston's petrochemical sector is experiencing record level growth with $50 billion in dollars of facility construction underway.
Houston’s status as the Energy Capital of the World and the brain trust of the global energy industry has resulted in an ecosystem that offers a competitive advantage to energy companies working in solar, wind, biomass and other renewables activities.
Texas and Houston are well-positioned as leaders in developing large scale renewable energy projects in both wind and solar. Houston has a growing base of solar energy sources and is home to more than 100 solar-related companies. Texas continues to pave the way by leading the nation in installed wind capacity by state, and Houston is home to some 30 wind-related companies.
Houston is also a hot-spot for funding in the renewable energy space. Of the $5.2 billion in venture funding received by Houston enterprises in between ’15 and ‘17, renewable energy accounted for the largest share with more than 35 percent. In addition, Houston-based private equity firms manage over $62 billion in assets, with 70 percent focused on energy.
Innovation is driving dramatic gains in productivity and efficiency: Todays’ rigs are bigger, more powerful, and increasingly more accurate. Data analytics and automation are transforming the oil & gas industry in remarkable ways, and it’s all happening in Houston
As Houston continues to leverage our unique strengths as the Energy Capital of the World with the expertise, talent, and ability to scale, we are creating an environment that naturally fosters emerging digital technology companies and their R&D work.
At least 21 of the Houston’s 40 corporate R&D centers are focused on energy technology and innovation. You can find a healthy mix of innovative start-ups to experienced and evolved tech companies focusing on a range of activity, including blockchain, data analytics and AI.