Houston Mid-Market CEOs Optimistic About Future Growth Prospects
The National Center for the Middle Market (NCMM) joined the Greater Houston Partnership (GHP) to discuss the rapid growth of mid-sized firms throughout the state of Texas. Business, policy, and thought leaders from around the region attended the discussion, which focused on the kinds of strategies and game-changing events that are driving robust and continued growth in this sector.
The GHP event featured Dr. Anil Makhija, NCMM's Academic Director, as the keynote speaker. Three CEOs from regional mid-sized businesses – Jeff Applegate, CEO of Texas Injection Molding, Kenneth Guidry, President of Pannell Kerr Foster of Texas, and Steve Mechler, President, Balfour Beatty Construction, Houston's Division – joined the panel discussion to share their firsthand insights.
All three CEOs were optimistic about the outlook for middle market companies. In fact, Jeff Applegate is so bullish that he made a big investment in December when he acquired a customized, specialty plastics manufacturer based in the community. His service-oriented, relationship-based approach is fueling a renaissance for middle market manufacturing across the region.
According to NCMM research, mid-sized companies have a major impact on the economies of both Texas and Houston. Texas is the nation's top growth market for mid-sized firms. There are 10,000 mid-sized companies throughout the state, employing more than 3.9 million and generating more than $497 billion in 2013. Specifically in Houston, middle market companies generate 17 percent of total revenue and account for 34 percent of employment.
The discussion was moderated by Molly Ryan, a reporter from the Houston Business Journal who covers manufacturing, technology, the Port and logistics. Click here to read her article "Houston's middle market companies share their secrets to success."
This event was a part of GHP's Thought Leader Series featuring innovative national industry experts on important topics of interest to the business community. The NCMM continually seeks to engage middle market companies around the country on a variety of topics.