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    melting pot

    Houston named a top city for minority entrepreneur success

    John Egan
    Jan 28, 2019 | 9:01 am
    Bank of America center downtown Houston skyline
    The Bayou City has been named the top Texas metro for minority entrepreneurial success.
    Photo courtesy of Bank of America Tower

    Houston reigns as the top major metro area in Texas for successful minority entrepreneurs, a new study shows.

    The Houston area ranks No. 11 in the study, done by lending marketplace LendingTree, with Dallas-Fort Worth at No. 17, Austin at No. 29, and San Antonio at No. 34. In all, the study measures the success of minority entrepreneurs in the country's 50 largest metro areas.

    Houston is no stranger to high marks for its minority-entrepreneur environment.

    In 2017, Expert Market ranked Houston the No. 1 city in the U.S. for minority entrepreneurs. A year earlier, Rice University's Kinder Institute noted that the Houston area ranked sixth in the U.S. for metro-area concentrations of minority entrepreneurs.

    For its ranking, LendingTree looked at four metrics:

    • Percentage of self-employed minorities in each metro area. (It's 2.5 percent in Houston).
    • Minority businesses ownership parity. A metro area scores well in this regard if the share of minority-owned businesses aligns with the percentage of minority residents. (Houston received a score of 59 in this category, with 100 being a perfect score.)
    • Percentage of minority-owned businesses that posted at least $500,000 in annual revenue. (It's 46.7 percent in Houston.)
    • Percentage of minority-owned businesses that have operated for at least six years. (It's 56.2 percent in Houston).

    Ingrid Robinson, president of the Houston Minority Supplier Development Council, credits the Houston area's strong showing in the LendingTree study to a number of factors.

    For one thing, minority entrepreneurs in Houston enjoy access to a vast array of resources at each stage of a business' growth, she says. For example, Houston Minority Supplier Development Council tailors its programs, seminars, and services to minority businesses in four revenue categories, ranging from less than $1 million a year to more than $50 million a year.

    Furthermore, Robinson says, business development groups in the Houston area work more collaboratively than they do in many other regions.

    "We truly try not to duplicate efforts, but to support one another and direct minority entrepreneurs to the appropriate organization that can best meet their needs," she says.

    Robinson underscores the diversity of industries in the Houston area, including energy, healthcare, and aerospace. This diversity helps sustain business activity during tough economic times, she says.

    Then, there's the fact that Houston is diverse in its demographics. A report released by Rice University proclaimed Houston is the most racially and ethnically diverse major metro area in the U.S. More than 145 languages are spoken throughout the region by a robust mix of white, Hispanic, African-American, and Asian residents.

    ---

    Continue reading this story at InnovationMap.

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    news/innovation

    economic news

    Texas slides down the list of best U.S. state economies for 2025

    Amber Heckler
    Jun 9, 2025 | 2:15 pm
    Hand of woman putting money in jar
    Getty Images
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    After riding high among the top five best state economies in 2024, Texas' robust economy may be showing some cracks. Texas now ranks as the state with the eighth best economy, four spots lower than last year's ranking, according to a new WalletHub report.

    WalletHub's experts ranked all 50 states and the District of Columbia across 28 metrics to measure each state's economic activity and health and its "innovation potential."

    Massachusetts moved up two spots from last year to claim the No. 1 best state economy title for 2025, followed by Utah (No. 2) and Washington (No. 3). Texas was surpassed by No. 4-ranking California, as well as New Hampshire (No. 5), North Carolina (No. 6), and Idaho (No. 7).

    This is how Texas fared across the three major categories in the study:

    • No. 4 – Economic activity (down from No. 2)
    • No. 11 – Economic health (down from No. 7)
    • No. 24 – Innovation potential (unchanged)
    Texas ranked No. 1 with the most exports per capita in a three-way tie with Louisiana and Kentucky, the report found.
    The Lone Star State prides itself on its business-friendliness, and cities like Houston boast some of the most innovative companies in the nation. Texas also ranked 13th in WalletHub's separate study of the most and least innovative states for 2025.

    WalletHub analyst Chip Lupo says the states that have the best economies are often those that invest in new businesses, technology, and more. The report also suggests low unemployment rates and high wages are among the many factors that can help Texas residents be successful while also boosting the state economy.

    "A strong state economy doesn’t guarantee success for the state’s residents, but it certainly makes financial success more attainable," Lupo said.

    The states with the worst economies in 2025, according to WalletHub, are Hawaii (No. 49), West Virginia (No. 50), and Iowa (No. 51).

    texaseconomyinnovationwallethubreports
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