Houston ranks as a top city for overseas business
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Houston ranked as the best U.S. city for international business in the second annual FT-Nikkei Investing in America ranking.
Why it matters: U.S. cities compete to attract foreign investors' money, per the Financial Times.
- Houston, with its reputation as the energy capital of the world and recent focus on the energy transition with green innovation, has positioned itself to be an international hub for a growing number of multinational corporations.
Details: Houston jumped four spots from last year.
- The city scored high for its openness, investment trends, workforce and talent as well as its business-friendly policies, excellent logistics, affordable cost of living and diverse community.
What they're saying: "Houston pulled ahead by providing the kind of services that overseas multinationals need to succeed in the U.S.," said Peter Spiegel, U.S. managing editor of the Financial Times.
- "This ranking is a testament to Houston's position as a thriving global city with a diverse mix of industries that are attractive to international investment," Bob Harvey, CEO of the Greater Houston Partnership, said in a statement. "Rankings like this bolster our case as we continue to attract companies from around the world."
The big picture: Other Texas cities, including Dallas, Austin, Plano and Irving, also made the top 10, driven by an influx of foreign investment in the automotive and technology sectors.
By the numbers: The Houston area has trading relationships with more than 200 countries and is home to more than 1,700 foreign-owned firms, according to the GHP.
- Houston's top trading partners include, in order, Mexico, China, South Korea, Brazil and the Netherlands.
- Plus: A quarter of Houstonians were born outside the country. The city also has nearly 90 foreign consulates, two international airports, and a port that handled more than 200 million metric tons of cargo worth $240 billion in 2022.