Houston takes top spot in FT-Nikkei rankings by moving beyond oil

The article from the Financial Times highlights Houston’s transformation from a city primarily associated with the oil and gas industry to a dynamic, multifaceted hub for green energy, medical technology, and aerospace. Mayor Sylvester Turner emphasizes that while Houston remains an energy town, it is diversifying rapidly, becoming an international center for various industries. Houston’s significant shift is evidenced by the establishment of numerous innovation centers, such as the Texas Medical Center and Houston Spaceport, and by attracting major investments in green energy and technology sectors.

The article also notes Texas’s broader economic success, with multiple cities in the state ranking highly in the 2023 FT-Nikkei Investing in America rankings, thanks to Texas’s pro-business environment, lack of state income tax, and relatively low cost of living. Houston’s unique business ethos, rooted in a “make it work” mentality, continues to attract businesses, leading to its emergence as a leader in energy transition and technological innovation.