Houston's Economic Development Guide: 2021

Page 12

Meeting of the Minds The George R. Brown Convention Center is in the heart of Downtown.

REGIONAL ECONOMY DYNAMIC ECONOMY FOR CONTINUED GROWTH

With a regional gross domestic product (GDP) of $478.8 billion, Houston is the nation’s seventh-largest metro economy and has grown by $100 billion (inflation-adjusted) over the past decade. If the MSA were an independent nation, it would rank as the world’s 27th-largest economy.

Over the past decade, Houston has demonstrated remarkable growth and resilience.

2018 Gross Domestic Product Metro Area

$ in Billions

1.4 million new residents

New York

1,772.3

500,000+ jobs created

Los Angeles

1,047.7

$100 billion increase in GDP

Chicago

689.5

San Francisco

548.6

Washington, D.C.

540.7

Dallas

512.5

HOUSTON

478.8

Boston

463.6

Philadelphia

444.1

Atlanta

397.3

The Perryman Group notes that by the end of the next decade, Houston’s: population will hit

8.4 million

payroll employment will reach GDP will top

$1.0 trillion

4.0 million

Source: U.S. Bureau of Economic Analysis

10 / HOUSTON.ORG


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