According to a Forbes magazine article published in 2012, Houston was ranked number one on their list of America’s Coolest Cities. Houston is again at the head of another list published in early 2015 by the top business magazine. America’s Fastest Growing Cities – 2015 puts the Texas metropolis at the top of the list for a number of economic factors. So exactly why is Houston the fastest growing city in America?

The first reason is oil. The new techniques of horizontal drilling and fracking have increased Texas oil production to its highest levels in decades. Because of this oil boom, the city of Houston has experienced a 4.5 percent growth in the employment rate from 2013 to 2014, making it the nation’s fastest. According to Forbes, who used Moody Analytics to obtain their job growth data, the Houston metro area has added an incredible 667,800 jobs since 2005.

Another reason for Houston’s rise to the top of Forbes’ list is the exploding export industry, which is directly affected by the oil boom. In the years 2009 to 2013, exports have risen by 74.5 percent, with over 3000 companies doing business internationally. These figures make Houston the United State’s top exporting city, above New York and Los Angeles.

A third factor in Houston’s growth is the Texas Medical Center which is the largest employer in Houston. It is also the largest medical center in the world, and is comprised of 21 hospitals, eight academic and research foundations, and numerous non-profit organizations. The world renowned M.D. Anderson Cancer Center is located in Houston’s medical district and attributes to millions of dollars dedicated to finding a cure for cancer.

With the increase in yield from the oil boom and the well established medical industry, the median pay rate of Houston has also increased, rising to an average of $71,900 for those with a college education. This rate places Houston in fourth among America’s largest metropolitan areas, based on numbers from Payscale.com. The oil boom as well as the job and pay rates are also responsible for an economy which grew 3.52 percent, rounding out the factors for ranking Houston as America’s fastest growing city.

2015 is expected to be another big year for Houston. Since 2009, approximately 1,500 corporations have relocated or expanded to the city. In the upcoming year, the metro area is projected to add another 63,000 jobs. Companies such as Valero Enegy, FMC Technologies, and Mattress Firm are among the most recent additions to the Houston boom. They join well known companies such as ConocoPhillips, Halliburton, and Marathon Oil.

There is some speculation that the city’s job growth will slow down due to the falling prices of oil, prompting some to consider changing their initial projection of job growth in 2015. This, however, is not expected to have an adverse effect on Houston’s overall economy, which has been stable over the last decade despite the economic woes felt by the rest of the country. Senior Vice President of Research, at the Greater Houston Partnership Patrick Jankowski, sums up the bright future of the city, saying that Houston grows when oil prices are low. The city booms when oil prices are high.