The Woodlands economy, corporate partners and commercial real estate on the rise

THE WOODLANDS, Texas - Business growth in The Woodlands shows no sign of a slowdown as the massive ExxonMobil campus takes shape just south of the area and the oil and gas corridor migrates north of Houston to Montgomery County.

As 2014 comes to a close, commercial real estate builders have recently completed 1.2 million square feet of office space-built on speculation-as job growth in The Woodlands and surrounding areas pushes demand. Boasting several Fortune-500 company headquarters and a who's who of international industry, The Woodlands is increasingly attractive to multinational businesses.

"We continue to see dynamic economic development activity in The Woodlands area," said Gil Staley, CEO of The Woodlands Area Economic Development Partnership. "What display of confidence that area developers have on the economic vitality of our community."

The Woodlands Area Chamber of Commerce will host its 29th-annual Economic Outlook Conference on Feb. 20, 2015 at The Woodlands Waterway Marriott Hotel & Convention Center to explore the impact and effects of growth. Attended by local business leaders and corporate executives, the event will highlight the outlook for the area.

Peter Cella, president and CEO of Chevron Phillips Chemical —a private company that combines the chemical expertise of its two oil-industry giant parent companies—will give the keynote speech at the Economic Outlook Conference and detail his company's ability to pursue international excellence from a small-town environment. "The Woodlands offers something unique to our employees—an opportunity to live, work and play in one community. About 25 percent of our employees working in The Woodlands also live in The Woodlands, with an even larger number living in the surrounding city of Spring," Cella said.

Chevron Phillips Chemical currently has 725 employees employed in The Woodlands. It outgrew its space in Town Center and relocated 100 employees to Research Forest-Lakeside. Chevron Phillips Chemical is expanding that location to accommodate another 50 employees, and the company expects to add another 50 workers over the next three years.

"America's resurgent shale resource development has provided us an enormous opportunity to grow at a significant pace and generate new jobs. In total, Chevron Phillips Chemical has announced billions in new projects and facility upgrades and expansions along the Texas Gulf Coast," Cella said. "The schools, cultural offerings and expanding dining scene in The Woodlands make this an enriching and fun place to live for our employees and their families."

Similarly, ExxonMobil announced plans in 2013 to follow up its new campus construction by undertaking the largest construction project in The Woodlands’ new Hughes Landing development. ExxonMobil is building 650,000 square feet of office space in Hughes Landing, planned for completion in 2016, and will lease another 480,000 square feet of space. About 1,500 well-paid employees will fill the new offices.

This kind of corporate growth and the accompanying residential demands are driving infrastructure upgrades-from the development of the Grand Parkway to the expansion of Woodlands Parkway and southbound arteries.

In turn, companies with a local presence are backing the growth of the area from more than just a business perspective. Chevron Phillips Chemical has donated $100,000 to the newly announced Texas Childrens' Pediatric Hospital, which will open its doors in 2017.

"The Woodland's cornerstone of community building is aligned with our core values at Chevron Phillips Chemical," Cella said. "We thrive to be good neighbors and support a number of community projects including Habitat for Humanity, Montgomery County Food Bank, Texas Children's Hospital in The Woodlands, Junior Achievement and United Way of Montgomery County."

There's little doubt that more growth is ahead for those who live, work and play in the area.