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Current Expansion Phase Surpasses Normal Economic Cycle

US economic cycles tend to run for seven to eight years, yet the current expansionary cycle, which started in 2009, already is among the longest on record for the American economy.

Industrial demand China and India will be the main drivers behind global energy demand growth through 2040.

HOUSTON—Texas is the second-largest US economy and if it was a standalone country, it would be the 10th largest economy in the world. About 28 million people live in the state.

In addition to in-migration, immigration is important to Houston’s regional economy, according to a recent report by CBRE. Nearly a third of local jobs are held by foreign-born individuals, which comprises 25% of the region’s population base and a labor force participation rate of nearly 70%. That’s about 5% more than native-born workers, GlobeSt.com learns.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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