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Jobs and Housing
NASA's arrival (40 years ago), sent growth surging throughout the clear lake area. (Clear Lake Chamber of commerce, 2004) "Bay Area Houston is home to 92% of Houston's aerospace jobs and 4.5% of Houston's total employment." (Tierra Grande 2003) "Bay Area Houston residents earn some of the highest incomes in the Houston area, with 18.3% of house-holds bringing home more than $100,000 per year." (Tierra Grande, April 2003) NASA has just been awarded Mission to Mars. Bush outlined his budget plan to include, "an additional $1 billion to NASA's existing five-year plan, or an average of $200 million per year." (Bay Runner February 2004) "International trade growth has played a key role in Houston's remarkable economic recovery from the oil price collapse of the mid-1980's." "This strong trade center is the impetus for the Bayport expansion project." "This trickle down effects of the $1.2 billion, 15-20 year project will no doubt have an impact on the Texas real estate industry." Regarding construction of the Bayport containerized cargo and cruise terminal..."Haris County residents acknoledged the expansion projects importance to the area's economic growth when they approved, 60% to 40%, a $387 million bond issue for phase one of construction." A study by the Port of Houston Authority says that, "Phases one and two of the project will generate more than 28,000 permanent jobs. The construction phase is expected to generate 24,000 temporary jobs." "Most sectors of the county's economy, and in particular the area's real estate industry, are expected to benefit from the expansion. (above quotes from Tierra Grande, January, 2004) |
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"Aerospace, technology and
specialty chemicals have been the strongest contributors to Bay
area Houston's economy," according to a recent report by Angelou
Economics. " However, tourism, recreational boating, and
biotechnology are broadening the region's economic base."
(Tierra Grande, April 2003)
