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The economy of Houston is based primarily on the energy industry, particularly oil.However, health care, biomedical research, and aerospace also constitute large sectors. In 2021, the gross domestic product (GDP) of the Houston–The Woodlands–Sugar Land metropolitan statistical area (MSA) was 537 U.S. dollars billion, the fourth-largest of any metro area in the United States. [1]
These three men formed a partnership on August 1, 1904. The company moved to Houston early in the 20th Century because that city was gaining on Galveston for the title of Cotton Capital of the U.S. after the near-complete destruction of that port by the 1900 Galveston hurricane, and on account of Houston's rapidly expanding shipping facilities ...
Location; Country: United States: Location: Houston (Texas, USA): Coordinates: 1]: UN/LOCODE: USHOU [2]: Details; Operated by: Port of Houston Authority: Owned by: City of Houston: Type of harbour: Artificial / natural: Number of cargo container terminals: 2: Number of major general cargo terminals: 5: Statistics; Annual cargo tonnage: 212 million (2006) [3]: Annual container volume: 1.6 ...
Port Houston's move to limit traffic for larger container ships to once a week may put a damper on growing volumes trade out of the Gulf Coast. The shipping restriction adds to another recent ...
The Texas LNG project is a multi-decade liquid natural gas shipping terminal project near Brownsville, Texas. It has been in the planning stages since the early 2010s and, as of 2019, gained regulatory authority approval for construction and operation in the 2020s, with initial export shipments as early as 2025.
Texas is one of only 7 states not to have a state income tax. [22] [23] The state sales tax rate, 6.25%, is above the national medium, with localities adding up to 2% (8.25% total). [24] Texas does have a "back to school" sales tax holiday once a year (generally around the first weekend in August) on clothing and footwear under $100. [25]
In January 2014, Roman Abramovich through his Millhouse LLC, which is a Moscow-based asset management company, signed an agreement at the John Houghtaling II house in New Orleans and made a $50 million investment in the American Ethane Company but backed out in late 2015 after the Russian intervention in Ukraine and the Russian annexation of Crimea because of sanctions against Russia. [6]
At the moment, trade economies in both Texas and California face some headwinds, including a slowing U.S. economy as a result of anti-inflation efforts, plus cutbacks by retailers and other buyers ...