Texas Border Business
AUSTIN – Governor Greg Abbott today completed a successful economic development mission to the United Kingdom organized by the Governor’s Economic Development & Tourism Office and the Texas Economic Development Corporation. During the trip, the Governor attended a series of meetings with business and government leaders in London to deepen the strong economic partnership between the United Kingdom and Texas, encourage expanded trade in critical industries, and attract new job-creating business investments to Texas.
“Texas is a state of infinite economic opportunities, and I am honored to have traveled to London this week to strengthen the enduring economic bond our state shares with the United Kingdom,” said Governor Abbott. “From signing our new Statement of Mutual Cooperation, to meeting with Prime Minister Sunak, to holding productive meetings with business leaders, our trip has promoted sustainable economic growth, cutting-edge innovation, and job creation in both Texas and the United Kingdom. There has never been a better time to do business with Texas, and we look forward to continuing to work with the United Kingdom as we build a brighter economic future for generations to come.”
The Governor was joined on the trip by First Lady Cecilia Abbott, Secretary of State Jane Nelson, the Governor’s Economic Development & Tourism Office Executive Director Adriana Cruz, and Texas Economic Development Corporation President & CEO Aaron Demerson.
HIGHLIGHTS FROM GOVERNOR ABBOTT’S TRIP TO LONDON:
Governor Abbott Signs Statement Of Mutual Cooperation With The United Kingdom
On the first day of the mission, Governor Abbott signed a Statement of Mutual Cooperation (SMC) with United Kingdom Secretary of State for Business and Trade Kemi Badenoch to further promote economic growth, support innovation, and encourage job creation in Texas and the United Kingdom.
Following the signing, the Governor met with United Kingdom Prime Minister Rishi Sunak and discussed their commitment to deepening the already-strong cultural and economic relationship between the people of Texas and the United Kingdom.
Governor Abbott Celebrates Bond Between UK, Texas During Margaret Thatcher Centre Lecture In London
On the second day, Governor Abbott delivered the Seventh Ronald Reagan Lecture at The Margaret Thatcher Centre at the invitation of the Right Honorable Sir Conor Burns MP, the Prime Minister’s Trade Envoy to the U.S. for Regional Trade and Investment, and celebrated conservative, pro-economic growth values shared between the United Kingdom and Texas.
In the morning, the Governor also met with British Petroleum (BP) Executive Vice President William Lin and other members of the company’s leadership team at BP international headquarters. During the meeting, Governor Abbott touted Texas’ position as a global energy leader and discussed ways BP and Texas can work together to encourage more energy trade and job-creating business investments in the Lone Star State
The United Kingdom leads all nations for the number of foreign direct investment projects in Texas, and Texas is No.1 among the states for exports to the United Kingdom. In 2023, Texas trade with the United Kingdom totaled $18.2 billion, making them the state’s ninth-largest total trade partner. In the last decade, companies from the United Kingdom have invested $8.6 billion in capital investment through 326 projects in Texas, creating more than 18,200 Texas jobs.
The trip was sponsored and paid for by the Texas Economic Development Corporation, an independently funded and operated 501(c)(3) nonprofit organization responsible for marketing and promoting Texas as a premier business location. Along with the Governor’s Economic Development & Tourism Office, these two organizations make up the cornerstone of Governor Abbott’s economic development agenda to build a bigger, better Texas.
