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History

 
The City of Houston was founded by A. C. and J. K. Allen in 1836. The local economy grew rapidly in the 1870s when Houston became a center for transporting goods via railroad. In 1901, the Ship Channel opening and the oil discovery allowed Houston to augment its size and economy. During World War II, additional petrochemical manufacturers were attracted to Houston because of the access to the Houston Ship Channel and the existing refining capacity. When the U.S. government selected Houston as the home of the National Aeronautics and Space Administration (NASA), Houston saw the development of many private firms that were pursuing commercial applications for space technology. Space exploration continues to spark our local economy. Over the last twenty years, Houston has emerged as a major corporate center with over 200 national firms establishing headquarters, subsidiaries, or divisions here. Recent economic development has primarily come from multinational firms. Over 600 foreign firms maintain offices in Houston, and Houston leads the South and Southwest with 53 consular offices. Today, Houston is experiencing moderate economic growth. Much of this growth has been attributed to the economic diversification that has occurred over the last several years. Economic development objectives have been established that would protect our economy from another harsh boom-bust cycle. However, with a diversified economy, Houston now finds it is more likely to follow national economic trends. Fortunately, since Houston's recovery from the recession, it offers quality living at bargain prices and has been a natural choice of many national firms as they make relocation or expansion decisions

[1] Reprinted from the City of Houston's Department of Finance and Administration Texas Government Handbook.
 
   

 

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