George Bush Intercontinental Airport
Houston’s unbelievable growth in recent years is no secret. You know you’ve earned the rank of a major city when you’ve got not one, but two large airports. Houston commercial real estate market is skyrocketing, and the growth surrounding George Bush Intercontinental Airport (IAH) is just one example of that. Just how notable is IAH? Consider the fact that with roughly 50 million passengers flying through a year, it is the tenth busiest airport in North America. In 2006, it was called the fastest growing airport in America. It is the 7th largest international passenger gateway in the United States with at least twenty international flights a day. Capitalizing on Houston’s growth, the airport’s management has announced a plan to expand and modernize. From expanded terminals to innovative ways to signal waiting times to passengers, monitoring the airport’s growth over the next decade will be interesting.
The airport’s success has translated into regional success as well. Development surrounding the airport has boomed in the last decade. Humble, Texas, the small city that surrounds IAH, has always profited from a robust oil industry. Ever since the inclusion of the airport, the town has seen an unprecedented rate of growth. For the entire Houston metropolitan area, the city’s airport systems account for 27 billion dollars in local investment annually. So as long as the airport is doing well, it will continue to bring business to Houston and allow Houston to market its products and services abroad. Moreover, it provides a direct source of employment for many Houstonians. IAH alone employs 35,000 people, half of which work for the airlines themselves.
Locating near a major hub like IAH is lucrative because it allows you to engage in business nationally if not internationally. Rather than make the trip through the massive city limits, it might be more attractive for your potential clients to take a ten minute taxi ride to your location near the airport. This mindset has become popular worldwide, with many cities attempting to build entire urban infrastructures centered around their airports for that purpose. While IAH has yet to officially announce similar plans, there is no discounting its significant economic impact on the surrounding area and Houston.
How To Use This Information
Houston is an amazing place to start a business, and with its robust airport system, you would be hard-pressed not to call it an international business city at this point. The city has seen intense growth since the turn of this century. Now is the best time to locate a business in the area, before vacancy rates decline. To learn more about the Houston commercial real estate market, give us a call at 713-452-9000, or explore our website. With our REAL-ized™ Vision program, we will ensure that you are able to find the office space of your dreams.
Categorized in: Houston Real Estate News
This post was written by Capital Realty