TEXAS
2023 – Second highest US State population – 30.5 million (y 2000 20.3m).
Home to 54 “Fortune 500” companies including Exxon Mobil, AT&T, DR Horton, Texas Instruments, Tesla, Apache Energy, Oracle, Baker Hughes, American Airlines, Conoco Phillips, Toyota.
2024 Total employed 14.5 million. Ave 2024 salary $52,600 (US ave $59,400).
Texas has $0 personal income tax rate (California 8% + / New York 4-8%)
2022 GDP US$2.35 Trillion making it the 9th largest economy in the world based on GDP.
2023 population 7.5 mill (2010 6 mill)
3.1 mill employed May 23, ave salary US$60kpa.
2023 median house price $325,000
Largest employers Medical and Energy
Second largest US new home construction market behind Dallas
BUSINESS
In 2016 the companies principals moved from Australia to the United States to manage international investors equity interests in land development projects being undertaken in Houston by Inprop USA and its partners. The original investments have now closed, however new land development projects were secured, equity was raised from Australia and our Houston based team continues to lead the Projects development to fruition.
Pelagic Property Group’s core business is to source and develop single family housing communities in Houston targeting entry and mid market new home buyers.
MARKET FOCUS
To develop quality properties in urban locations with emphasis on single-family housing estates. Target projects range in value from USD$5 million – $50 million.