The nation's economy may still be recovering from the recession, but The Woodlands seems unaffected by economic turmoil faced by the rest of the United States and much of the world.
Speakers at the 27th annual Economic Outlook Conference—hosted by The Woodlands Area Chamber of Commerce—discussed different topics March 8 at The Woodlands Waterway Marriott Hotel, but all seemed to agree Texas and The Woodlands are thriving. U.S. Rep. Kevin Brady, R-The Woodlands, said Texas has experienced 29 percent retail growth from 2000-2011 and an 8.7 percent growth from 2009-2011, more than twice the national pace.
However, Brady said the rest of the country has struggled, with the nation's gross domestic product growing 2.3 percent annually in recent years compared to a 3.3 percent pre-recession average. Brady said he believes three key areas need to be examined to improve the nation's economy: growth in the energy industry, fewer regulations and significant tax reform.
"Washington has all the money they need; they don't have all the money they want, and they need to learn the difference," Brady said.
Greg Brenneman, chairman of CCMP Capital Advisors, and David Arkless, president of Corporate and Government Affairs, painted a similar picture of the American economy. Brenneman estimates a 1.5 percent economy boost for the U.S. in 2013, but said the country will be stagnant during the first half of the year due to the 2 percent payroll tax and other tax increases.
Arkless, meanwhile, said he believes the nation needs to focus on employing young people, with as many as 14.5 million unemployed people in the United States despite 8 million job listings posted online every month. He said the country needs to encourage young people and skilled immigrants to receive vocational training in areas where the country has job openings.
"We have to get back to what makes this country great," he said. "We have to get immigrants to work for us effectively."
Focusing solely on the local economy, The Woodlands Development Company Co-President Alex Sutton highlighted growth in the community. Sutton spoke of proposed office, residential and retail development, particularly the Creekside Village Center, Millennium apartments, office buildings along Waterway Square and Hughes Landing, which features 2 million square feet of office space and 175,000 square feet of retail space.
"We want this to be a place that's active and vibrant," Sutton said of Hughes Landing.
Gil Staley, CEO of The Woodlands Area Economic Development Partnership, said The Woodlands has less than a 2 percent vacancy in its office space and recorded a record increase of 1,172 new jobs in 2012. Staley said recent or upcoming major employer relocations to The Woodlands include Layne Christiansen, Nexeo Solutions, RPC, Inc., and STS Products in Oak Ridge North.
He said expansions at Anadarko, Repsol USA, Talisman Energy USA and Chicago Bridge & Iron also will bring new jobs to the community.
"Mr. [George] Mitchell envisioned there would be a job for every household," Staley said. "We have enough jobs for The Woodlands, Oak Ridge North, Shenandoah and the newest community, Woodforest."
Chief executive officers of two of the community's new major employers discussed their respective industries and why they chose The Woodlands for relocation. Ron Mittelstaedt, CEO of Waste Connections, Inc., said his solid waste and recycling company relocated 90 percent of its employees to Texas in 2012, leaving a struggling California economy whose voters outnumber its workers.
"It is fundamentally broken," he said of California's economy. "California looks at the Southeast and Texas in particular and asks, 'Where did I go wrong?'"
Lee Rothby, CEO of Newfield Exploration Company, said the oil and gas company moved its corporate office and over 100 employees to The Woodlands over a year and a half ago, attracted by the community's economic success and amenities.
"We're not alone in this," Rothby said. "There are a lot of companies that have been attracted by the area."