Sugar Land is Home to Key Industries in Texas
Business is thriving in Sugar Land, Texas. The city has evolved from a Houston suburb to one of the fastest-growing cities in the United States. Supported by a strong infrastructure, highly educated workforce and competitive tax rates, Sugar Land is filled with opportunity.
Like Houston industries, the range of Sugar Land Texas industries – both established and emerging – have contributed to its emergence as an economic powerhouse. These key sectors include:
Advanced Manufacturing: Sugar Land, TX, is a hub of technological innovation instreamlining and reinventing manufacturing processes. Several advanced manufacturing companies like Systel, Accredo Packaging and Applied Optoelectronics Inc., serve both domestic and international markets. Sugar Land is also home to some of the largest employers in the energy industry, including SLB, ChampionX and CVR Energy. Sugar Land has easy access to raw materials, suppliers and customers via a network of major ports, airports and interstate cities. It also boasts an impressive 8.9 million square feet of industrial space.
Life Sciences: Sugar Land’s healthcare industry created 23% of new jobs in Sugar Land between 2009 and 2019. A thriving biotech industry has emerged to support this growing health sector. It is partially driven by the city’s proximity to the largest medical center in the world, Texas Medical Center, located in the south-central Houston area. Sugar Land’s high concentration of graduate-level employees and technically skilled professionals also contribute to the quickly growing industry of life sciences. Specializations in this industry range from research and development to pharmaceutical manufacturing, biotechnology and health services.
Business & Professional Services: Sugar Land is home to several large financial and engineering companies that require administrative and managerial support. 3,077 Sugar Land citizens work in finance and insurance, with 2.2% forecasted annual growth in this sector. These companies rely on sales, marketing, accounting, human resources, legal and operational specialists to fuel their success. Businesses also employ general administration staff in their corporate headquarters to keep business services and operations running efficiently.
Information Technology: The IT sector is becoming one of the biggest biggest greater Houston industries as well as Texas sectors. Sugar Land’s access to high-speed telecommunications networks makes it a prime center for technological growth. IT companies in Sugar Land include Fiserv, HCSS, Texas Instruments and Prime Communications. They benefit from highly educated, technologically skilled and work-ready graduates who have ongoing access to courses, training and workshops in the Houston region.
Business Development and Innovation
Sugar Land is a business-friendly city that continues to attract significant investment and diverse talent. It is home to highly skilled architecture, engineering, healthcare, management and life sciences candidates, including recent graduates, entrepreneurs and executive-level professionals. 60% of residents possess a bachelor’s degree or higher – a factor that significantly contributes to the city’s reputation for innovation and its rate of economic development.
The city boasts the second lowest property tax rate among cities of comparable size. It offers state and local financial incentives, such as tax abatement and enterprise funds, to ensure businesses thrive. In 2020, Sugar Land received a total of $40 million dollars in capital funding. It is also well-placed for national and international trade and business development with easy access to road, air and sea ports. These favorable conditions open the door to all companies looking to expand and stay ahead of the competition.
Forecasted Sector Growth
Sugar Land continues to build on its momentum as one of the fastest-growing business hubs in the country. It has a strong presence in health care, advanced manufacturing, retail, energy and natural gas, but there is a shift towards biotech, information technology and finance companies.
The 1,000-acre Sugar Land Business Park is home to corporate headquarters and industrial spaces that suit a wide variety of business needs. Its strategic location within the Houston MSA situates the Sugar Land Business Park as a prime location for new businesses emerging from a rapidly growing Houston economy. It offers ease of accessibility to Harris County, the Woodlands, the Houston Metro Area and locations in the Texas Gulf Coast region, such as Galveston.
While the regional economy has generally slowed in recent years, Sugar Land has maintained steady job growth. Between 2015 and 2020, employment was four times the national rate and 50% greater than elsewhere in Houston. The healthcare industry grew employment by 92%, and it’s likely to remain the largest job-creating industry for Sugar Land over the next decade. Information Technology is an emerging area of growth, with computer and electronic product manufacturing set to grow by 2.3% in the next year. Experts also predict the creation of an additional 26% more IT jobs in this major industry by 2030.
All Sugar Land Texas industries are projected to grow by 1.9% annually. The city’s infrastructure, quality of life and economic incentives make it a hotspot for business growth and talent retention – both regionally and nationally.
Sugar Land provides an affordable cost of living and an attractive, business-friendly environment. This makes it stand out compared to other metropolitan areas, like New York or Dallas.
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