Economy

Houston boasts a diverse economy, having substantially lessened its dependence on the energy sector from the profound levels of the 1980s and earlier. While energy holds a place in the city's economic picture, Houston also is an industrial, commercial, medical, educational and finance center and is ranked second for Fortune 500 headquarters by Fortune magazine (2009).

Houston is in a stronger position than most of the nation regarding employment, with 2.55 million payroll jobs recorded in May 2009, according to the Greater Houston Partnership, more than the job counts in 29 U.S. states. Houston has more Fortune 100 fastest-growing companies than any other state in the nation, except California. Also, Florida, Massachusetts, New York and Oklahoma combined have fewer companies than Houston, reports the Greater Houston Partnership. Only 28 nations other than the U.S. have a GDP exceeding Houston's.