HOUSTON TOPS IN ENTREPRENEURIAL ACTIVITY

According to monthly economic report by SigmaBleyzer
Casey Wooten, Reporter, Houston Business Journal, Houston, TX, Fri, July 16, 2010

HOUSTON TOPS IN ENTREPRENEURIAL ACTIVITY
According to monthly economic report by SigmaBleyzer

Casey Wooten, Reporter, Houston Business Journal, Houston, TX, Fri, July 16, 2010

HOUSTON - Despite the U.S. economic recovery slowing in June, Texas businesses continued growing and Houston reigned supreme in terms of entreprenual activity, according to a monthly economic report by SigmaBleyzer.

On a positive note, June was the 11th straight month of output expansion in manufacturing and the 14th consecutive month of growth in the overall economy.
May’s level of industrial production in the Lone Star State was 5.1 percent higher than a year ago, the third straight month of gains, and the mining industry reported a 20 percent increase in output.

Meanwhile, Houston has the highest level of entrepreneurial activity out of the 15 largest U.S. cities, according to the latest Kauffman Index of Entrepreneurial Activity.

“Larger Texas metros, which entered this recession with more stable housing markets, a relatively higher concentration of commodity producers, and a greater exposure to government, education and export-oriented manufacturing, appear to be more resilient; and are emerging faster from the economic downturn,” the SigmaBleyzer report said.

Texas’ unemployment rate was 8.3 percent in May when Texas saw the first annual gain in jobs in May since the end of 2008. In June, the rate dipped slightly to 8.2 percent compared with 9.6 percent nationally.

That may increase, though, as the moratorium on deepwater offshore drilling puts “at serious risk the long-term oil production prospects of the Gulf of Mexico” and may have a significant impact on the Texas economy, the report added.

LINK: http://www.bizjournals.com/houston/stories/2010/07/12/daily45.html

NOTE:  SigmaBleyzer is a member of the U.S.-Ukraine Business Council (USUBC), Washington, D.C., www.usubc.org.  SigmaBleyzer Private Equity Investment Group, since the early 1990's, has focused mainly on private equity investments in Ukraine.  They also have equity investments in Romania and Kazakhstan.  In August of 2009 SigmaBleyzer made their first U.S. based private equity investment in a Dallas based beverage manufacturer, Jus-Made LP, and plans to make more such investments in the U.S.. SigmaBleyzer has more than $1 billion in corporate assets under management.