The Woodlands Area Chamber of Commerce hosted the 30th annual Economic Outlook Conference on Feb. 26 featuring panelists on health care, the economy and retail trends in The Woodlands.

Gil Staley, CEO of The Woodlands Area Economic Development Partnership, and Alex Sutton and Tim Welbes, co-presidents of The Woodlands Development Company, discussed job growth and retail development.

“The original vision [for The Woodlands] was to do a city in the forest,” Sutton said. “We’ve maintained that vision, and we’ve continued to maintain that vision. It’s really fun to be able to sit in my office in Hughes Landing and watch the eagle terrorize the fish in Lake Woodlands and at the same time be in an environment where we’ve got the kind of employment...where you only have to commute maybe a mile or so. It’s really [a] developed city where you can live, work, play and learn.”

Updated major employer numbers were released during the conference, and energy holds the No. 1 spot, accounting for 32 percent of the job market in The Woodlands. Professional services and the health care sector round out the top three, with education taking fourth place.

In 2015, 68 companies made up 30,330 jobs in the area. However, at the year’s end, The Woodlands had a building vacancy rate of 9.4 percent, or about 1 million square feet.

“We look at [vacancy] as opportunity and economic development,” Staley said. “When it does turn, and we all know it will, first to market is the winner. We’re ready for that.”

Sutton said of the 9.4 percent of vacancies, about one-third is in the Hughes Landing area, which is still being developed. Since the beginning of 2016, total vacancy has dropped to 8.7 percent.

Two of the three office buildings in Hughes Landing are completely leased. The third building recently opened, and the first tenants will be moving in March, Sutton said.

Health care

In the health care sector alone, Houston Methodist’s 470,000-square-foot facility in The Woodlands and Texas Children’s 548,000-square-foot campus will open in 2017.

Michelle Riley-Brown, president of Texas Children’s Hospital The Woodlands, said they are always planning ahead when it comes to staffing requirements.

“We’re making sure that we’re planning for the future and providing specialty care for Montgomery County and surrounding counties in those planning efforts,” she said.

Memorial Hermann is also undergoing an expansion project, and CEO Josh Urban said the facility will house 351 beds by this summer.

Education

Conroe ISD is looking at adding at least four new schools to the Oak Ridge feeder zone alone, Staley said.

“It’s needed for our students for our population, but it’s a job creator,” he said.

The Woodlands Christian Academy accounts for over 100 jobs on The Woodlands’ major list of employers. The John Cooper School will open its new 50,000-square-foot science, technology, engineering and math building in time for the start of the fall semester.

Lone Star College-Montgomery and the Sam Houston State University branch in The Woodlands continue to grow. SHSU, in particular, is contributing to the health care services industry in the area.

Retail growth

Restaurant Row at Hughes Landing now consists of seven restaurants—with Truluck’s slated to open in March.

“That will complete Restaurant Row,” Sutton said. “We’re very pleased with the way that’s developed.”

Embassy Suites in Hughes Landing opened in December. The Westin in Waterway Square, set to open mid-March, will feature a 24-hour pet-friendly Starbucks. Although The Woodlands’ economy is experiencing a minor downturn, Staley said people should not be worried.

“I’m still optimistic,” he said. “This is the best downturn we’ve experienced.”