Sugar Land Texas Industries
Business is thriving in Sugar Land, Texas. Supported by a strong infrastructure, an educated workforce and low taxes, the city has evolved from a Houston suburban community to one of the fastest-growing cities in the United States. 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 when it comes to streamlining 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 Schlumberger, ChampionX and Fluor. 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 was responsible for creating 23% of new jobs in Sugar Land between 2009 and 2019. A thriving biotech industry has emerged to support the health sector, partially driven by the city’s proximity to the largest medical center in the world, Texas Medical Center. Sugar Land’s high concentration of graduate-level employees and technically skilled professionals also contribute to the life sciences in specialisms ranging from research and development to pharmaceutical manufacturing.
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 things efficiently running.
Information Technology: The IT sector is becoming one of the biggest Texas industries. 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.
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 is continuing 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, energy and retail, 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.
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 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.