Business

HSBC, GHP Forecast Exports Adding 55,000 Houston Jobs By 2019

Petrochemical construction and investment in Mexico’s energy sector will drive the boom.

A new study from global banking firm HSBC and the Greater Houston Partnership estimates that rising exports will add more than 55,000 jobs to the region’s economy over the next few years.

The study bases its projection on the combined effects of new investments in chemical plants and liquefied natural gas terminals, as well as the opening of Mexico’s oil and gas sector to Houston businesses.

Patrick Jankowski is vice president of research for the Greater Houston Partnership and the lead author of the report.

“You’ll see the jobs associated with the chemical plants come on strong in the next two to three years. The oil and gas and the engineering-related [jobs] will be a little bit further down the road.

“We’re waiting to see what happens in Mexico, and as Mexico opens up more of its interior to foreign investment and foreign involvement, you’ll start to see those. But probably over the next five years is when we’ll see the total 55,000 additional jobs that were going to be created,” Jankowski said.

Houston now handles more foreign tonnage than any other U.S. port, having taken the top spot from New York in 2012.

Between 2005 and 2012, Houston’s exports increased by more than 160 percent.

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Andrew Schneider

Politics and Government Reporter

Andrew heads Houston Public Media’s coverage of national, state, and local elections. He also reports on major policy issues before the Texas Legislature and county and city governments across Greater Houston. Before taking up his current post, Andrew spent five years as Houston Public Media’s business reporter, covering the oil...

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