Texas has opened a new office in London, aiming to draw investment and jobs from the United Kingdom to the state, according to an April 14 announcement. The move is part of Texas’ broader effort to expand its economic development strategy internationally.
The establishment of the London outpost comes as Texas continues its campaign to attract companies from higher-tax U.S. states and now seeks opportunities overseas. Officials associated with Governor Greg Abbott are targeting financial firms in London, hoping to build on Texas’ recent success in surpassing California for Fortune 500 headquarters.
Lobbyists at the new office will promote Texas’ business advantages, including no state income tax, no corporate tax, and lighter regulations. They will also highlight newer initiatives such as specialized business courts designed for quicker resolution of corporate disputes and incentive packages intended for large employers.
Cities like Dallas and Austin are positioning themselves as alternatives to traditional coastal hubs. Dallas has emphasized its growing financial sector with efforts such as “Y’all Street,” seeking to attract banks and asset managers who may be looking beyond New York or reconsidering their position after Brexit.
Interest from overseas companies appears strong; local economic development leaders report inquiries from manufacturers in Europe and Asia. State officials say this new presence builds on existing international offices in Mexico and Taiwan.
The opening of the London office underscores increased competition among global cities for businesses and capital. As London faces challenges retaining company listings, Texas is intensifying its outreach by offering incentives and branding itself as a destination for international firms.
