Odessa, TX

Learn what others know: Odessa is the best place for your business!

southeast freight building and parking lotOdessa is a vibrant, growing community. Life in Odessa is not just about business. It is a community that welcomes its citizens with open arms in the business community and daily life.

Odessa has long been known for its rich resources due to its location in the Permian Basin, the largest single source of oil and gas deposits in the United States. The abundant energy combined with world-class infrastructure, a skilled workforce and a pro-business climate has proven Odessa ideal for business. 

The local economy has rapidly diversified recently, with new businesses coming to the community. Today, Odessa is a focal point for product distribution for national and international companies outside the oil and gas industry.

As a result, Odessa continues to grow, with the population forecasted to exceed 215,000 by 2040. Employment forecasts 1.70% growth annually in that timeframe, creating over 37,400 net new jobs. Real personal income and retail sales are projected to increase by 3.81% and 4.13% per year, respectively. For comparison, the rate of growth for output in Texas is forecast to be 3.25% annually through 2040, with employment in the state expanding at a pace of 1.70% per year.

The outstanding cultural and recreational opportunities, healthcare facilities and ease of access to the surrounding region make Odessa the ideal place for business expansion and relocation.

Population

Total Population

120,403

Population
Growth Rate

0.61%

Median Age

34

Diversity Index

83.400

Source: ESRI, 2024-09-26

Housing & Income

Households

43,220

Total Housing Units

50,706


Owner Occupied

28,282

Renter Occupied

14,938

Vacant

7,486

Median Home Value

$214,864


Average Home Value

$268,130

Income
Growth Rate

Median
Household Income

0.00%


Per Capita Income

2.70%

Income Projection

Median Household

$74,880 $81,546


Average Household

$95,320 $109,209


Per Capita

$34,375 $39,277

Source: ESRI, 2024-09-26

Workforce

Total Businesses

4,348

Total Employed

60,042

2024 Retail Trade Businesses

cp-industries

Businesses

652

Employed

8,792

2024 Educational Services - Businesses

cp-industries

Businesses

78

Employed

8,636

2024 Accommodation / Food Service

cp-industries

Businesses

424

Employed

7,218

2024 HealthCare / Social Assistance

cp-industries

Businesses

464

Employed

6,302

2024 Food Service / Drinking Est.

cp-industries

Businesses

359

Employed

6,050

2024 Public Administration

cp-industries

Businesses

97

Employed

5,668

Some
High School

6,849

Graduated
High School

18,615

Associates
Degree

8,299

Bachelor's
Degree

11,457

Graduate
Degree

5,205

Source: ESRI, 2024-09-26