Governor Abbott Showcases Texas’ Economy Across The Globe In 2024
Governor Greg Abbott today highlighted the three economic development missions he led in 2024. During the trips, the Governor met with business leaders and government officials around the globe to showcase and promote the booming Texas economy.
“Texas is the eighth-largest economy in the world, a global leader in energy and trade, and the world’s premier economic destination because of our top-tier business climate,” said Governor Abbott. “That is why this year, I visited with business leaders and government officials in India, Japan, South Korea, Taiwan, and the United Kingdom to showcase the booming Texas economy and attract more businesses to invest in our great state. As Texas looks toward growing our economy even more in 2025, we will continue to provide leading businesses from across the nation and the world with the opportunities they need to thrive in Texas.”
HIGLIGHTS FROM TEXAS' 2024 ECONOMIC DEVELOPMENT MISSIONS:
Governor Abbott Bolsters Enduring Economic, Cultural Bond With India
In January, Governor Abbott led an economic development mission to India to meet with company executives, business leaders, and government officials to promote Texas’ booming economy; encourage trade, job creation, and capital investment by Indian companies in Texas; and strengthen the ongoing partnership between India and Texas.
"Texas remains the most popular destination for Indian foreign direct investment and jobs created in the entire United States," said Governor Abbott. "I am confident this enduring bond and strong collaboration will continue for years to come after this very productive economic development mission."
The Governor visited with technology, manufacturing, and energy leaders in Mumbai and technology executives in New Delhi. While in New Delhi, Governor Abbott also met with External Affairs Minister of India Dr. Subrahmanyam Jaishankar. Both leaders discussed the continued collaboration between Texas and India across a variety of industries, including semiconductor manufacturing and aerospace technology.
Governor Abbott Strengthens Texas’ Economic Partnership With The United Kingdom
In March, Governor Abbott traveled to the United Kingdom on an economic development mission 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.
"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," said Governor Abbott. "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.”
On the first day of the mission, Governor Abbott met with then-Prime Minister Rishi Sunak at 10 Downing Street – the historic residence of British prime ministers since 1735. The two leaders discussed bolstering the cultural and economic relationship between the people of Texas and the United Kingdom. Prior to the meeting, Governor Abbott signed a Statement of Mutual Cooperation (SMC) with United Kingdom Secretary of State for Business and Trade Kemi Badenoch. The SMC promotes economic growth, supports innovation, and encourages job creation in Texas and the United Kingdom. It also prioritizes collaboration in critical sectors such as new and emerging innovative energy solutions, including hydrogen, carbon capture, and energy storage; chemicals production; health and life sciences; supply chains and critical minerals; advanced technologies; aerospace; and more.
On the second day, Governor Abbott delivered the Seventh Ronald Reagan Lecture at the Margaret Thatcher Centre and met with British Petroleum (BP) Executive Vice President William Lin and other members of the company’s leadership team at BP international headquarters.
Governor Abbott Announces State Of Texas Taiwan Office, Signs Economic Agreement In Taiwan
In July, Governor Abbott completed a successful three nation economic development mission to Taiwan, South Korea, and Japan. During the trip, the Governor met with company executives, business leaders, foreign dignitaries, and government officials to promote Texas’ booming economy and drive progress in industries that are critical to the future of the global economy.
On the first full day of the economic development mission, Governor Abbott announced the opening of the State of Texas Taiwan Office during a press event in Taipei. The State of Texas Taiwan Office will help attract foreign direct investment and job creation into Texas and increase Texas exports into Taiwan and other Asian countries.
“Texas and Taiwan are critical economic partners that seek to drive the future of innovation,” said Governor Abbott. “By working together, we will ensure our people have the freedom and opportunity to thrive in the growing economies of the 21st century.”
Governor Abbott also signed an Economic Development Statement of Intent with Taiwan Minister of Economic Affairs Jyh-Huei Kuo. The EDSI helps boost investment, expand trade, spur job creation, and increase innovation in critical industries between Texas and Taiwan. It also prioritizes collaboration in critical sectors, including semiconductor manufacturing, electric vehicles, energy resilience, and more.
Governor Abbott Bolsters Texas-South Korea Economic Partnership In Seoul
After a successful trip to Taiwan, Governor Abbott traveled to South Korea to strengthen economic relationships, visit with foreign dignitaries, and meet with business leaders. In South Korea, the Governor announced that SeAH Group has established a high-performance metal manufacturing facility in Temple, generating $110 million in capital investment and creating over 100 new jobs in Central Texas.
“SeAH Group’s $110 million investment in Temple is a testament to the unique and unmatched business opportunities the Lone Star State has to offer businesses,” said Governor Abbott. “I look forward to welcoming SeAH group’s new manufacturing facility to Texas and continuing to work with them to bring even more investments and jobs to our state.”
The Governor also met with Samsung Electronic Co., Ltd. Executives at their semiconductor campus in Pyeongtaek and toured the P1 line in the Pyeongtaek complex. Additionally, Governor Abbott was briefed on the company’s cutting-edge manufacturing operations at the complex.
Governor Abbott Meets With Japan’s Chief Cabinet Secretary Hayashi In Tokyo
Governor Abbott then visited Japan to meet with Chief Cabinet Secretary Yoshimasa Hayashi at the office of the Chief Cabinet Secretary in the Prime Minister’s Office, known as the Naikaku Sōri Daijin Kantei. Both the Governor and Cabinet Secretary explored ways Texas and Japan can continue to strengthen the economic partnership through trade and new foreign direct investments.
“Texas and Japan aspire to drive the future of innovation, and by meeting with Japanese government officials, we ensure Texas and Japan continue to work together to spur economic growth and prosperity for our two peoples,” said Governor Abbott. “We will ensure our economic ties are bolstered through cooperation and mutual economic development that will empower the next generation of leaders to thrive.”
Following the meeting with Chief Cabinet Secretary Hayashi, the Governor met with Japan’s Minister of Foreign Affairs Yoko Kamikawa.
Governor Abbott Signs Statement of Mutual Cooperation With Aichi Prefecture In Tokyo
Wrapping up the three-nation economic development mission while in Tokyo, Governor Abbott joined Aichi Prefecture Governor Hideaki Ohmura to sign a historic Statement of Mutual Cooperation. This agreement between Texas and Japan will encourage more trade in critical industries and attract new business investments to Texas.
“Texas and Japan must continue to expand our important relationship and grow our economic and cultural ties,” said Governor Abbott. “That is why I am proud to sign this key economic development agreement with Aichi Prefecture. As Texas and Japan drive the future of innovation, this trade agreement will provide our two peoples with the economic freedom and opportunity to thrive for generations to come.”
Governor Abbott also met with Toyko Governor Yuriko Koike at the Tokyo Metropolitan Government Building to discuss their shared commitment to deepening the unique cultural and economic relationship between the people of Texas and Japan. In 2020, the Governor’s Economic Development & Tourism Office signed a Statement of Mutual Cooperation with the Tokyo Metropolitan Government’s Bureau of Industrial and Labor Affairs, outlining a framework to assist Tokyo’s small and medium-sized enterprises as they seek to expand their business to Texas.