The Woodlands Edition | March 2022

Growing industry Alongside the health care and education industries, the profes- sional and business services sector saw a slight increase to become The Woodlands’ third-largest nonretail employer in 2021 with 4,217 of the 36,673 nonretail jobs among those employers in the region, according to the EDP’s report. The industry makes up 11.5% of the major nonretail jobs in the area, up from 4,203 jobs, or 10.9%, the previous year. It had pre- viously decreased from comprising 16% of area jobs in 2019. Staley said the professional and business services industry consists of a variety of jobs, including engineer- ing firms, communication firms and credit card transaction companies, which provide services to the market. “They fit well with the assets that we have in The Woodlands,” Staley said. “They require office space, … and we are perfectly suited for that. Most of them require highly edu- cated employees, and we can meet that need.” U.S. Census Bureau data from the 2015-19 Annual Community Survey five-year estimates shows, in The Woodlands, 98.7% of the popula- tion age 25 or older is a high school graduate, and at least 63.8% have a bachelor’s degree. This is higher than the city of Houston and Mont- gomery County where 78.9% and 87.7%, respectively, of residents are high school graduates and 32.9% and 34.5%, respectively, have a bachelor’s degree. Jankowski said the professional, scientific and technical service indus- tries were among the fastest growing across the Houston region in 2021. “These tend to be white-collar jobs and well paid, which is good for Hous- ton’s overall economy,” Jankowski said. Nath said he believes the business and professional services sector has

Expressing optimism for growth Despite the reported losses, Sta- ley said he remains optimistic due to the number of requests for proposal from companies looking to relocate to the area. As of Feb. 22, Staley said the EDP was speaking with four busi- nesses, including those outside the state and country, that are looking to locate headquarters in the area. Staley said the EDP is targeting Cal- ifornia for recruitment purposes, and it is in the process of working with two life sciences companies, but he could not disclose the companies’ names. In the 2022 EDP report, there are two life science companies in the major nonretail employers, which make up 0.6% of the total jobs: Rigaku Americas with 135 employees andMil- liporeSigma with 103 employees. Staley added the growth in health care jobs in the area has contributed to making The Woodlands a medical center for the region north of Houston with major expansions to two facili- ties due to be completed in June. From 2021-22, the health care industry has collectively added 338

jobs to the area, growing from 10,806 to 11,144, or increasing from 28% to 30.4% of total jobs among major non- retail employers, according to the EDP. Among the top five employers for the area, hospitals Memorial Her- mann The Woodlands Medical Center added two jobs; Houston Methodist The Woodlands Hospital added 203 jobs; and CHI St. Luke’s Health added 257 jobs. However, EDP data shows other health care employers, such as Texas Children’s Hospital andMcKesson Spe- cialty Health, lost 40 and 391 jobs. When the South Tower at Memorial Hermann TheWoodlands Hospital and the Healing Tower at HoustonMethod- ist TheWoodlandsHospital expansions are completed by June, it is estimated 650 additional jobs will come with them, according to the hospitals. “I think we are already a true med- ical center for primary care,” Staley said. “It is addressing the population growth we have seen year after year.”

bright prospects, both locally and nationally, as it makes up about 13% of nonfarm jobs across the United States in 2022 and is projected to grow throughout the 2020s. “Given that The Woodlands is often identified as one of the best places to live in the U.S., it may attract more educated and skilled workers to the area, and that may also catalyze the growth of these services,” Nath said. A statement from Alight Solutions, the largest professional and business services employer in The Woodlands area with 1,530 employees—up from 1,200 in 2021—stated the lingering effects of the pandemic have led to an increased demand for services. Alight Solutions helps companies with ben- efits, payroll and human resources, and the company built a new facil- ity in The Woodlands in 2020 as part of its anticipated growth over the next decade. “We believe the need for these services will remain strong given the renewed importance placed on employee retention and recruitment,” the company said in a statement.

For more information, visit communityimpact.com .

RISING OIL PRICES

Prior to 2014, oil prices had a direct impact on job growth for the industry. After bankruptcies and market crashes, investors have reprioritized and rig growth has slowed, according to experts.

The Woodlands area energy jobs 2021: 4,325 2022: 2,969

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SOURCE: NASDAQ/THE WOODLANDS AREA EDP COMMUNITY IMPACT NEWSPAPER

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THE WOODLANDS EDITION • MARCH 2022

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