Quote:
Originally Posted by edluva
attractively sounding statement.
now for some substance...
future of what?
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Good question.....
With the right amount of luck and planning, Houston could become a top 5 Western global city in several decades (
at the most optimistic level).
The energy industry is one of the most technical, knowledge-based, well-paying industries to be in. Houston has one of the highest median incomes in the country. The global private energy industry has been consolidating in Houston along with some quasi- public/private companies. Also, the energy industry has an aging workforce due to the lack of hiring and retaining talent from 80's bust to the early 2000s so there will be quite a few workers retiring or have already retired. My dad is a holdover from the 80s bust as an electrical engineer (I don't think they call it that anymore) and can tell you about the talent shortage.
The energy industry has led Houston to punch weigh above it's weight in terms of manufacturing and exports. There's between $35-50 billion in expansions and upgrades for petrochemical plants in the Houston area that will only further increase it's manufacturing prowess.
Houston is diverse, international, affordable, and an economically mobile city. It's passed billions in bonds in 2012 to rebuild and/or upgrade inner city schools, add new parks, better roads/sidewalks, and drainage (it's a big deal in Houston).
Obviously, there's quite a few pitfalls and weaknesses that can derail Houston's rise to more prominence. Houston certainly can diversify it's economy more and invest more in higher education.
Personally, I see investing in higher education as the ticket to being the next global city. University of Houston is still a ways off from becoming a flagship Texas university with the likes of UT and TAMU. Rice University is a top research university per capita, but it's a small and will hopefully keep expanding over time. Houston also needs to diversify it's transportation and continue to make gradual improvements in urbanity.
I realize this won't be a popular post on this forum as Houston can represent the things this forum dislikes, but there's no denying the economic might and mobility.