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San Francisco might come out on top but for the vast majority of people I.E. the middle class, Houston is the better place. Lots of money to be made in Texas and you can live a comfortable life. If I had a trust fund and had millions to spend **** yeah I would be in San Francisco in a heart beat, but life is good in Texas and there's a reason why millions are moving here.
Some of the same uninformed banter in this thread about Houston. Not to take anything way from San Francisco. Unlike the early 80's where oil dominated the Houston economy, it is now around 40% of the economy. That's still a big chunk but nowhere near what it use to be. The City leaders know what they are doing to avoid another 80's bust. And as others have stated, these oil companies are getting into the clean energy game as well.
The gadgets invented by the companies in San Francisco are useless without the energy extracted by the companies in Houston.
Not exactly.
The 2 biggest energy companies in the United States are NOT based in Houston. Exxon is based in Dallas and ironically, Chevron is based in the Bay Area.
Also,
this article only mildly compares SF and Houston.
Moreso, the article calls out LA and Chicago for their comparatively stagnant ability to retain their prominence in vital industries like finance, media, manufacturing and engineering.
I do agree with Joel Kotkin that we might be seeing a reshuffling in the ranking of economic importance. I have long stated my opinion that SF and Houston are headed for a duel for 2nd place in the future.
The 2 biggest energy companies in the United States are NOT based in Houston. Exxon is based in Dallas and ironically, Chevron is based in the Bay Area.
While the corporate headquarters of those companies might be located elsewhere, the vast majority of their employees work in Houston. As a matter of fact Exxon is currently building a large corporate campus just outside of Houston that is expected to house 10,000 employees, and Chevron is building another office tower in Downtown that is expected to house 10,752 employees.
While the corporate headquarters of those companies might be located elsewhere, the vast majority of their employees work in Houston. As a matter of fact Exxon is currently building a large corporate campus just outside of Houston that is expected to house 10,000 employees, and Chevron is building another office tower in Downtown that is expected to house 10,752 employees.
Yes, they can build a bunch of office space elsewhere, most large companies do that.
But they are NOT headquartered in Houston.
Despite the decades long, rampant speculation and regurgirated gossip by Houstonians, Exxon and Chevron's headquarters are not in Houston, nor has either company ever intimated that they ever plan on moving their headquarters.
So my comment that you quoted is 100% true. No ifs, ands or buts about it.
It's definitely the Bay Area by far. Cities like San Francisco and San Jose will continue to grow influence and importance much faster than Houston will. Also the Bay Area attracts better talent from not only the US but around the world. Houston location will somewhat hurt it in the long run because it will always have to compete with Dallas. The Bay Area doesn't have to compete so much with LA because it is removed far enough from its realm of influence. Houston will always have to fight tooth and nails against Dallas when it comes comparing economics in Texas.
Think Kotkin sells Chicago way short in this article. People on the coasts, especially millenials, are being permanently priced out of the market in places like SF, DC, NYC...and it seems likely many of these young folks will seek out places such as Chicago in the coming decades. I just don't see Houston attracting people who want to live a car free pedestrian transit lifestyle. There is also the possibility that Houston will gradually evolve into a higher cost entity as it grows into a major city. it's current advantages may diminish. While those of low cost legacy cities may return.
I'm a millenial-age engineer and I left California for a new job in Chicago, largely because of the more affordable rate of living. As far as my interests go, the only thing Houston/TX has got on Chicago is being closer to Mexico and having a better country/roots music scene. Chicago wins in every other category, including my specific area of engineering (medical devices). I still go back and visit friends in CA, still appealing in some ways, but way too ridiculously expensive out there. How anti-progressive of them indeed. Frankly, I think anywhere in the USA is going to have it's share of problems since the country in general seems to be in decline, north, south, east and west. If I had a mobile income, I'd buy a house in Latin America and just live down there.
Last edited by blacknwhiterose; 10-08-2014 at 10:48 AM..
Well-educated, highly talented employees and managers are picky about where they live because they can be. Since the SF Bay Area is a much, much more desirable region overall than Houston, it'll always be a place where executives and other high-ranking professionals will hang their hats while overseeing operations in Houston, mostly staffed by blue-collar workers who can't afford to live well in the SFBA. And eventually, once all of Houston/Texas' natural resources are depleted and the place no longer serves a purpose, it'll be on to the next. Maybe AL or MS--who knows?
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