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Growth ^ American <br />�� <br />�m������uu U�� ��uum���U����K� �� <br />Opportunities for New <br />Scott D. Livingston <br />Economic Development <br />The Gateway City: La Porte, Texas <br />holds promise for retailers. <br />~U & Gas Production and International Trade Fuels <br />Retail Development ^ La Porte, <br />In 1889 French settlers gave La Porte, Texas its <br />name because ofits proximity Lothe entrance <br />ofwhat isknown today asthe Houston Ship <br />Channel. "La Porte", translated into English <br />means "Gateway",which isthe Gateway tuthe <br />Houston Ship Channel and the Port o[ <br />Houston, both ofwhich are iconic symbols of <br />the Houston Region's international trade and <br />commerce. LaPorte also sits atthe center of <br />the 2nd largest petrochemical and refining <br />complex inthe world, which isanintegral part <br />ufthe United Skates'aconomicrecovery and <br />shift toward independence from foreign oil. <br />Technological advances inhacNngand <br />natural gas extraction from shale rock <br />formations has generated aboom inthe U�. <br />energyindustr«, Over $]Sbillion ofnew <br />capital investment along the Houston Ship <br />Channel inoil &gasrefining and <br />petrochemical production iscreating over <br />lll.00Onew directjobs,154'000indirect jobs, <br />and spinoff investment inManufacturing, <br />international trade, and ofhce/warehouse <br />development.' Since Princess and Norwegian <br />Cruise Lines began offering cruises from the <br />newly opened Houston Bayport Cruise <br />Terminal, tourism isalso growing! More than <br />$2.34billion ofindustrial investment, and an <br />additional $l.5billion ofanticipated <br />investment bythe end o[2Ol4inLaPorte, <br />isfuelling opportunities for new retail and <br />restaurant development! <br />10 QEONevvs.com <br />Over $357million inretail salesand5U0,000 <br />square feet ofretail space are needed toaddress <br />the pent-up and unmet demand for today's new <br />retail and restaurant development in La Porte's <br />primary trade area today.This scenario offers <br />many and varied opportunities for retailers, <br />restaurants, developers, and tenant <br />representatives inLaPorte. LaPortp'sprimary <br />trade area includes apopulation of3O0,OOU.a <br />daytime employment population nfl54.0OO'an <br />average household income of$72,0O0'and <br />access kn6million tourists. As home of the San <br />Jacinto Monument, San Jacinto Battleground <br />where Texas won its battle for independence <br />from Mexico in1836'Battleship Texas, and <br />Sylvan Beach, La Porte possesses rich heritage <br />and aunique place in Texas hist <br />The discovery ofshale gas and the resulting <br />drop in�S.natural gas prices has changed the <br />global dynamics ofthe petrochemical industry. <br />U.lproduction ofpetrochemicals, plastics, and <br />other chemical products from natural gas and <br />natural gas liquids will significantly increase, and <br />U.lpetro- chemical exports from Texas will not <br />beashort term phenomenon.' VNththe <br />opening ofthe expanded Panama Canal in2U16, <br />both the Port ofHouston and Houston Ship <br />Channel will continue toplay amajor role in <br />international trade.' The expanding new <br />economy based upon domestic oi|&gas <br />production and international trade ishereto <br />stay. <br />LaPorte welcomes the opportunity topartner <br />with retailers, estaumnts,deveopeo.and <br />tenant representatives todevelop new retail and <br />restaurant projects inLaPorte,Texas.Threceive <br />afree map and information which highlights the <br />retail and restaurant development opportunities <br />inLaPorte, please contact Scott D.Livingston at <br />/ "Billions Planned mShip <br />Shale Boom", Houston Business Journal, 18 Oct. 2013. <br />u Port Region Investment Survey Shows <br />Strong Private Investment, Construction Employment <br />Through 2015", Port of Houston Bureau, Jan. 2013. <br />3 "Houston's Chemical Reaction — Shale Gas Powers <br />Industrial novm^.Tierra Grande, July 2013. <br />* "Port Inspires Industrial Development mu^Porte and <br />Deer Park", Houston Business Journal, 4 Feb. 2014. <br />