Texas Cities Leading the Way in Economic Recovery Efforts – Part 2

Thursday, January 7th, 2010

As a continuation of our last post, we’ll continue discussing a recent article that appeared on Forbes.com discussing America’s Fastest-Recovering Cities. Texas is leading the economic rebound with four cities on the Top 10 list of cities leading the way in economic recovery.

In our previous post, we discussed San Antonio (ranked #2 on the list) and Austin (ranked #3 on the list), and what has helped these rapidly growing cities survive and even flourish during the economic crunc that has had such a crippling effect on so many other cities. Today, we’ll discuss the other two cities on the Forbes.com list, and look at some of the factors that have kept them on the rise.

Dallas – Ranked #6

One of the best attributes Dallas has going for it in the current economy is a bustling sector of diversified tech companies that are all continuing to grow as we enter the new decade. The thriving tech industry has provided new jobs in the Dallas area through the recession, and is showing no signs of slowing down.

Along with tech, Dallas is also driven by banking, commerce, telecom, energy and transportation. Only New York and Houston are home to more Fortune 500 companies, and D/FW airport has transformed the Dallas-Ft. Worth area into one of the busiest inland ports in the country.

Houston – Ranked #8

Known as one of, if not the most prolific oil cities in the U.S., you may be surprised to see Houston on this list, considering the instability in the oil and gas industry as of late. Well, despite the stereotype, Houston is far more diversified in the energy industry than just abandoned oil wells and chemical factories.

As the fourth largest U.S. city, Houston also excels as a port, and as a leading medical city. The research segment is only elevated further by the presence of NASA and the Johnson Space Center – the location of Mission Control Center. With the second most Fortune 500 companies making Houston home, the growth in the Houston area continues to impress, and shows no signs of slowing down any time soon.

A Great Place to Call Home

One thing all the Texas cities on our list – and the cities around Texas for that matter – have in common, is that before the recession, home prices were stable. Texas never fell under the weight of the “boom” that many cities fell victim to, and as a result, never suffered from the resulting crash. As quoted in the Forbes.com article, research economist at the Real Estate Center at Texas A&M University James P. Gaines said, “Texas didn’t have as big of a boom, so we’re not having anywhere near the kind of bust.”

It’s easy to see why so many people are happy in this state – and why so many people can’t wait to move here.

Tags: economic recovery, energy industry, tech industry, top cities