HALLIBURTON PRESENTS HOUSTON TECHNOLOGY CENTER GRAND OPENING CELEBRATION

HOUSTON (August 19, 2002) – On Wednesday, August 28 2002, Halliburton presents the Houston Technology Center (HTC) grand opening celebration. The HTC is rolling out the red carpet and inviting the community to enjoy the Hollywood movie premiere theme, networking, live and silent auctions, a door prize drawing, complimentary hors d’oeuvres and a cash bar. 

Paul Frison, president and CEO of the HTC explained why this grand opening is so monumental to the HTC, “Three years ago, the HTC was created as a business accelerator for emerging companies in Houston’s technology sectors: energy, information technology, life sciences and NASA-originated technologies; but up until now, we had no permanent home.  Yet even without a facility in which to house start-ups, the HTC’s 60 client companies have collectively raised $400 million in venture capital and created 800 jobs for Greater Houston. With our new state-of-the-art facility, the HTC can now cement Houston’s position as a leading city for starting and growing emerging technology companies.”

Dave Lesar, Halliburton chairman, president and CEO, explained why Halliburton chose to partner with the HTC for this event, “As Houston’s third largest employer and a long-time leading innovator in technology and growth in the energy industry, Halliburton is a dedicated supporter of Houston’s high-tech sector as a whole.  We view the HTC as a synergistic partner in growing and developing technology talent; and believe that coupling our history of creating high-tech advancements for the petroleum and energy industries with the HTC’s network and resources is a perfect match.”

The event starts at 5:00 p.m. with building tours and networking.  At 6:30 p.m. Dave Lesar,  chairman, president and CEO of Halliburton, Mayor Lee Brown, US Congresswoman Sheila Jackson Lee and Midtown Chairman Bob Sellingsloh will welcome Paul Frison, CEO and president of the HTC into the new facility.  At 6:45 p.m. the live auction will commence and building tours will resume.

HTC’s new state-of-the-art facility at 410 Pierce Street in Midtown includes 12,000 square feet of business incubator space able to accommodate as many as 15 - 17 HTC client companies.  More than 6,000 square feet is dedicated to providing the city’s diverse communities with IT training, including a 200-seat meeting room and the IT training lab with 50 computer workstations.

The extensive remodeling of the HTC was made possible by a $1.1 million grant from the Economic Development Administration (EDA) with matching funds of $750,000 from the Midtown Redevelopment Authority Tax Increment Reinvestment Zone (TIRZ) No. 2.  HTC will lease the building from the Midtown Redevelopment Authority for a period of 20 years.

About Halliburton
Halliburton, founded in 1919, is one of the world’s largest providers of products and services to the petroleum and energy industries.  The company serves its customers with a broad range of products and services through its Energy Services Group and Engineering and Construction Group business segments.  The company’s World Wide Web site can be accessed at www.halliburton.com.
 

About HTC
Houston Technology Center (HTC) is helping Houston generate a new, vibrant economy in key technology sectors, including Energy, Information Technology, Life Sciences and NASA-originated technologies.  HTC accelerates the growth of emerging technology companies by providing them with business guidance and introductions to investors, mentors and professional service firms.  The new 26,000-square-foot Houston Technology Center includes incubator space for client companies, an Information Technology training lab where workforce development training courses are held, and space for networking and educational events that bring Houston’s technology community together.  A non-profit corporation, HTC is supported by more than 300 corporations and organizations, as well as Houston’s leading academic institutions, the Greater Houston Partnership, the Texas Medical Center, the Johnson Space Center, and the City of Houston.   For more information, visit www.houstontech.org

About Midtown
Since the mid-1990s, redevelopment of Midtown has made it an emerging jewel in Houston.  Midtown offers urban residential living, retail centers, restaurants, places of worship, parks, recreation, and office space in an environment that promotes pedestrian mobility, preservation of the area’s history, opportunities for new growth and carefully designed aesthetics.  Midtown is located between downtown and Houston’s Museum District and Texas Medical Center, and is one of the most rapidly changing neighborhoods in the city.  

Development in the Midtown area falls under the steering of the Midtown Redevelopment Authority and the City of Houston’s Tax Increment Reinvestment Zone (TIRZ) No. 2, and is promoted by the Midtown Management District.  Since the Midtown Redevelopment Authority was founded in 1995 over $450 million in improvements have taken place in the area.

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