A University of Houston report suggests that the Northwest region of Harris County will grow by more than 13 percent over the next decade buoyed by Exxon Mobil Corp.’s proposed development near the area.

The analysis, done by the University of Houston Hobby Center for Public Policy, said that the region was expected to gain 400,000 residents in 10 years and that household income would grow 27 percent among those making between $100,000 and $150,000 per year.

The study shows that the changes will add new jobs as well as millions of dollars in new commercial and residential sites. It will also require the region to undergo redevelopment along its major thoroughfares.

Other results from the report include housing values to increase by 27 percent for those in the $200,000 and $300,000 range. “This growth, plus the impact of the Exxon Mobil development on the new 385-acre campus, should lift land and home values and increase jobs in our region,” the Chamber’s president, Barbara Thomason, president of the Houston Northwest Chamber of Commerce, said in a statement.

An estimated 4,000 Exxon Mobil employees are expected to move to the site.
Source: Houston Business Journal

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