King & Spalding Quietly Keeps Growing in Texas

In 1995, Houston was still very much an energy town and suffering from weak commodity prices, with oil trading around $17 per barrel and natural gas below $2 per thousand cubic feet. But jobs, building permits and home sales were increasing, and business leaders were optimistic about the future.

“Over the past year, Houston’s economy has slowly picked up steam, and local growth favorably compares with that of the rest of Texas for the first time since the end of the Persian Gulf War,” Bill Gilmer, an analyst at the Federal Reserve Bank of Dallas in Houston, said at the time.