Kings of the 1099 Economy: Houston No. 1 in the nation in self-employed trend —by choice
Apparently Houstonians like to be their own bosses: A recent report by Forbes on "The Rise of the 1099 Economy" puts Houston-Sugar Land-Baytown as the leader in the trend toward self-employment.
With 245,643 self-employed residents in 2012, Houston has seen a 12-percent increase since 2008, and a 51-percent expansion in its 1099 economy in the past decade.
"The city has a culture that encourages striking out on your own, and low costs and lighter regulation make it easier," Forbes contributor Joel Kotkin wrote.
"The entrepreneurial drive in Houston is clearly not a response to economic disaster — the city has a culture that encourages striking out on your own, and low costs and lighter regulation make it easier," Forbes contributor Joel Kotkin noted in the article.
He went on to describe how self-employment figures have grown by 35 percent in the energy sector since 2005, and by 75 percent in support activities for oil and gas operations in the same period.
Overall, Texas counts 934,704 self-employed jobs (a 31 percent increase since 2001), with two other Lone Star state metropolitan statistical areas making Forbes' top 10 list.
San Antonio-New Braunfels ranks No. 6, with 76,505 self-employed (representing an eight percent increase since 2008) and Dallas-Fort Worth-Arlington ranked No. 7, with 236,949 self-employed (a six percent increase since 2008).
Following Houston in the ranking is Riverside-San Bernardino-Ontario, Calif. at No. 2; Phoenix-Mesa-Glendale, Ariz. at No. 3; Seattle-Tacoma-Bellevue, Wash. at No. 4; and Baltimore-Towson, Md. at No. 5.