Mitsubishi Heavy Industries relocating headquarters to Houston

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Wednesday, May 4, 2016
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MIstubishi Heavy Industries is moving its headquarters from New York to Houston.

HOUSTON (KTRK) -- It is more than a ceremonial shot in the arm.

Mistubishi Heavy Industries moving its continental headquarters from New York to Houston is a big vote of confidence from a global corporation.

"When a company like this puts a headquarters here that signals to other companies that are on the East Coast or the West Coast, 'Hey I ought to be thinking about moving my headquarters to Houston,'" said Bob Harvey, the president and CEO of The Greater Houston Partnership.

It's big enough Governor Greg Abbott and members of Congress were here to welcome the new headquarters, which is relocating from New York.

"You could have chosen any place in the United States to make your headquarters. We are proud you chose Houston. You chose wisely," said Gov. Abbott. "It is even sweeter knowing that New York's loss is Texas' gain. This has been the result of quintessential Texas teamwork."

It comes at a time when Houston's economy is in a bit of haze, with low energy prices having a far-reaching effect. The latest numbers from the Texas Workforce Commission show Houston gaining in service and healthcare related jobs, but losing big in manufacturing, mining and retail.

That said, the Greater Houston Partnership reports there were 244 new companies that set up shop in Houston in 2015. So far this year, there are 89 and 1 in 5 come from foreign companies like Mitsubishi.

"Texas as you know, last one in the recession in 2008, first one out," said Texas Congressman Randy Weber, who attended the ceremony. "You heard a lot of discussion about how great Texas is. We're gonna make it through this."

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