Chairman's Letter

Hello friends-

The year has kicked off with exciting news on the topic of stock exchanges in Texas. Late January, the Texas Stock Exchange (TXSE) announced that they have closed their initial funding round and filed registration with the SEC. If approved, trading will launch in early 2026.

Then, it was announced that the New York Stock Exchange will open an exchange in Texas. NYSE Chicago will be moving to Texas and renamed NYSE Texas. NYSE cites Texas as “the state with the largest number of NYSE listings, representing over $3.7 trillion in market value” and calls out its pro-business environment.

As for the Houston economy, job growth is expected to trend higher in 2025, despite the recent downward trend, reports the Houston Business Journal. At their annual Economic Forecast event, experts cited inflation as something to watch. They also noted Houston’s continued diversification from oil and gas helps the local economy be less dependent on one industry.

Also on our minds are developments from the new administration in Washington regarding oil and gas production, corporate tax cuts and renewable energy updates. We’re also eyeing tariffs and their impact on business and immigration as it relates to employment.

Lastly, we hosted our 35th anniversary open house recently. It was great to mingle and connect with clients and friends of the firm.

If we can help answer any questions or navigate legislation changes throughout this year, don’t hesitate to contact us.

Sincerely,