Texas Border Business
AUSTIN, Texas – Governor Greg Abbott today met with Rt. Hon. Liz Truss MP, former Prime Minister of the United Kingdom, to discuss ways Texas and the United Kingdom can continue strengthening their economic partnership. Held in the Governor’s Office at the Texas Capitol, this marked former Prime Minister Truss’ first visit to Texas and her first meeting with Governor Abbott.
During the meeting, Governor Abbott and former Prime Minister Truss shared interests in bolstering their respective economies, including ways the United Kingdom can replicate Texas’ model of economic success through low taxes, reasonable regulations, and business-friendly policies. Former Prime Minister Truss also commended the Governor for signing the largest property tax cut in Texas history earlier this year.
Additionally, the Governor and former Prime Minister Truss both discussed Texas’ continued efforts to attract more businesses to the state, including protecting vital industries from unnecessary state and federal regulations. The Governor noted his continued efforts to defend Texas’ robust oil and gas industry from President Joe Biden’s destructive energy policies, including fighting to protect Texas’ energy industry from environmental, social, and corporate governance (ESG) standards and signing laws that allow Texas’ energy sector to flourish.
In July, First Lady Cecilia Abbott and Secretary of State Jane Nelson led an economic development mission to Germany, the United Kingdom, and France, touting Texas’ robust economic ties with the United Kingdom while in London. Joined by Texas Economic Development and Tourism Executive Director Adriana Cruz, and Texas Economic Development Corporation Board of Directors Vice Chairman Arun Agarwal, they also promoted Texas at the United Kingdom House of Parliament.
The United Kingdom leads all nations for the number of foreign direct investment projects in Texas. In 2022, Texas trade with the United Kingdom totaled $21.2 billion, making them the state’s ninth-largest total trade partner. In the past decade, companies from the United Kingdom have contributed $5.6 billion in capital investment through 337 projects in Texas, creating more than 15,100 jobs.
