Posted October 29, 2018 04:01:12 When Houston is battered by storms, its business owners and investors turn to a business savior.
With the exception of a few big name companies like Toyota, Honda, General Motors and Exxon Mobil, the city’s most-visited businesses all rely on a mix of government and private funding to survive.
For the city, it’s the biggest source of funding for its entire economy.
The other cities with the highest percentage of businesses are: Dallas, Los Angeles, Chicago, New York, Seattle, Dallas and Miami.
The only major city with less than 30 percent of businesses is Detroit, which only has 6 percent of the business-creation dollars the city needs.
The city also has a much smaller number of businesses than the national average.
A survey released last week by the Federal Reserve Bank of Dallas found the metro area had a median net worth of $3,200 for households with an annual income of more than $100,000.
About $11,000 of that was for businesses.
The rest was for homes, apartments, condos and small businesses.
A more complete list can be found here.
Some Houston businesses are already looking to get out of the storm-ravaged market.
Houston-based developer and developer consultant Michael Perna said his company, RBC Group, would seek to sell its properties in the region.
“We’re very excited about the opportunity to be able to build some more affordable housing,” Pernab said.
He said he could see a number of companies buying properties that are too expensive for them to afford.
“It’s a great opportunity for us because it’s an opportunity to take advantage of our current infrastructure,” he said.
The company has sold at least one property in the city for more than half a million dollars, and it’s considering the possibility of doing the same with another.
It’s also working on building a new office building in the area, said Pernba, who is also president of the Houston Business Alliance, a group of local business owners.
The business group is also looking to attract more investment.
Pernb, who said his group is working on a new $10 million office building, is also eyeing a possible $10 billion investment.
“I think there’s a lot of excitement in Houston about our opportunity,” he added.
In Dallas, a small group of investors including Dallas billionaire David Bratt are hoping to sell their properties for a combined $100 million.
The deal, however, has not yet been finalized.
Bratt said the deal would include a new hotel that would be built on the former AT&T tower that houses the Dallas Museum of Art.
The $100-million sale price is not known, and he said he expects the transaction to close in the next few months.
Dallas is not alone in trying to rebuild its business climate.
San Francisco is also working to shore up its economy, and the city has announced plans to create a $100 billion fund for business-growth strategies.
In Austin, a similar plan to revitalize the city is being pitched by city officials.
Austin Mayor Steve Adler said in a statement that his city is looking to invest $100m in a new citywide economy to create 1,500 new jobs.
Austin is also planning to develop an affordable housing program that would help build more housing.
Austin also has plans to raise $20 billion for infrastructure projects, including an expansion of its light rail system.
The Dallas-based economic development group American Business Group is also pitching an investment of $20 million in a proposed citywide development that would add a hotel to the site of the former Dallas International Airport.
American Business is seeking an investment in the Dallas-Fort Worth area.
The group also said it wants to invest in more businesses, including one of the largest employers in the Houston area.