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What is the Secret to Houston’s Success?

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    Houston Mayor Annise Parker on the factors leading to the city’s economic growth.

  • Duration 4:21
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What's the good news while those cities are in trouble one city in America is growing like crazy take a look at these numbers see if you can guess the city.

It is number twenty on Forbes 2012 best places for business and careers this city gain 313.

1800 new residents of the last five years and you -- -- then say so what my city has more people.

But consider this New York Los Angeles and Chicago come together and lost a combined total of more than 365000.

Residents in the same time meaning.

They're moving up.

And people are moving into the city 23 fortune 500 companies are headquartered here that's second only.

To New York City plus last year its economy saw a huge shop.

-- eight point 6%.

At a time when we're barely seeing growth nationwide and according to Ford's.

It's the fourth fastest growing city in the US they can you guess.

Could I can't Harriet.

Houston Texas joining us now an approximate as explicit as Houston's mayor.

-- needs Parker welcome -- Parker thank you for joining us.

Glad to be with you and clearly I think like your watchers would like to be used -- right now but -- while I know it's pretty hot there but the trick what is the secret sauce you know.

Peter just did a set -- piece on a lot of other municipalities that are truly struggling but.

Clearly Houston has put together an alchemy a great chemistry that attracts people attracts businesses.

And attracts growth what is it that you're doing their that's really the right thing.

Some of its planned in and some of it is just.

Luck but.

And we have a a very affordable costs of living we have a good quality of flight with all the big city amenities.

We have a very business friendly permitting and development.

Policy.

We have a broad and deep workforce we have strong international times and we have rail sea and air connections to anywhere you wanna go in the world.

We're looking at the top five employers but when you look at all the corporations that are there everything from Waste Management to Group 1 Automotive -- -- El Paso.

There a lot of energy heavy names -- Marathon Oil Alpine.

Calpine rather Apache.

But the let's talk about dot.

You know Houston was always sort of that energy black gold.

Because Citi in and argue that centric when it comes to energy anymore or have you diversified.

We diversified tremendously over the last twenty years.

I in the eighties it now or only guess -- 80% of our economy it is still up about 50%.

But it is morphing into the new energy economy not just -- gas.

And when you added that the largest medical complex in the world America's largest foreign tonnage ports.

A very robust.

Aerospace and high tech.

Complex around it NASA and -- where a large manufacturing sinner as well so we have aggressively and diversity.

Five I also want to mention to our viewers you came from the private sector which gives you big plus when it comes to actually running a city which in a -- as a business -- were software analyst.

For the oil and gas industry and I'm sure that's certainly -- do you.

When you ran you ran on a platform of among other things budget cuts.

That's Houston's at a nine year run up in this problem but budget deficit now I believe of around a 10050.

Million dollars.

What are you gonna do about that I know the City Council has to balance -- budget etc.

but what can you do was mayor to fill that gap.

Well this is a strong mayors city and -- run the city.

-- lead the city and I'm responsible for putting that budget together we just actually pass the budget in June.

That was balanced.

I've cut several hundred million dollars since I became mayor in two and a half years ago I took over a city that was in good shape.

But I had to.

Tighten the reins and make sure that we cut back where we could.

Not only was a a twenty year employee of the -- gas industry are also owned my own small business.

Four in ten years and I and I understanding yet keep a close eye on the bottom line.

We're watching it closely -- -- Parker -- Democrat from Houston you know we we give credit where credit is due a lot of people are constantly saying lately that.

The states that do the best around by Republicans here's a city that's done very well run by Democrats thank you very much.

Thank you -- -- Parker.

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