Austin News

Governor Greg Abbott of Texas recently concluded a successful economic development mission to the United Kingdom aimed at bolstering the economic partnership between Texas and the UK. The trip, organized by the Governor’s Economic Development & Tourism Office and the Texas Economic Development Corporation, focused on enhancing trade relations and attracting new business investments to Texas.

During the visit, Governor Abbott expressed his enthusiasm for the economic opportunities available in Texas, stating, "Texas is a state of infinite economic opportunities." He highlighted the importance of strengthening the economic bond between Texas and the United Kingdom, emphasizing the promotion of sustainable economic growth and job creation in both regions.

Accompanied by First Lady Cecilia Abbott, Secretary of State Jane Nelson, and other officials, the Governor engaged in various meetings with business and government leaders in London. Key highlights of the trip included the signing of a Statement of Mutual Cooperation with the UK Secretary of State for Business and Trade to support economic growth and innovation. Additionally, Governor Abbott met with UK Prime Minister Rishi Sunak to underscore their commitment to furthering the cultural and economic relationship between Texas and the UK.

The Governor also delivered the Seventh Ronald Reagan Lecture at The Margaret Thatcher Centre, where he celebrated the shared conservative and pro-economic growth values between the United Kingdom and Texas. Furthermore, discussions with British Petroleum (BP) executives focused on enhancing energy trade and investment opportunities between BP and the Lone Star State.

The United Kingdom stands as a significant investor in Texas, with the state being the top destination for UK foreign direct investment projects. In 2023 alone, trade between Texas and the UK amounted to $18.2 billion, solidifying their position as key trading partners. Over the past decade, UK companies have invested billions in capital projects in Texas, leading to the creation of thousands of jobs.

The economic development mission was supported by the Texas Economic Development Corporation, working in alignment with Governor Abbott's agenda to promote Texas as a premier business location. The trip underscored the mutual commitment to fostering economic growth, innovation, and job creation between Texas and the United Kingdom, setting the stage for a prosperous economic future for both regions.