BIG FOUR UPDATE: Q1 2011

Each quarter I will be giving a brief update of what former Greater Houston Partnership Chairman Patrick Oxford calls, four of Houston's "Crown Jewels": The Port of Houston, the Texas Medical Center, Houston's Energy Sector, and The Johnson Space Center. These four jewels are intergral drivers of the local Houston economy and truly set Houston aprt from the rest of the US.

Port of Houston
+ Panama Canal widening in 2014 will have a substantial and positive impact on the port and corresponding Houston business.
+ 1st in the US in foreign tonnage for 14 consecutive years

+ 1st in imports for 19 consecutive years.

+ 2nd in US in total tonnage for 19 consecutive

Johnson Space Center
+ New NASA budget ending the constellation program threatening 7,000 Houston jobs.
+ GHP efforts worked out a compromise that has mitigated these losses.

Texas Medical Center
+ Largest consolidation of medical buildings in the world (140+ buildings). 93,500 employees and $14 billion annual impact.
+ Future growth: $7.1 billion in approved building and infrastructure investments through 2012.
+ Impact of healthcare bill is yet to be determined but will undoubtedly influence this center.

Houston Energy
+ Oil Prices are up to $90.79 (as of 1/19/11), with indicators pointing towards higher prices.
+ There have been no new deep water permits granted since the BP Oil spill despite the moratorium being lifted.
+ M&A activity on the rise.