First Lady Abbott, Secretary Nelson To Lead European Economic Development Mission
Showcasing Texas’ World-Class Economy In Germany, the United Kingdom, France
AUSTIN – First Lady Cecilia Abbott and Secretary of State Jane Nelson today announced that they will lead an economic development mission to Germany, the United Kingdom, and France, organized by the Governor’s Office of Economic Development and Tourism and the Texas Economic Development Corporation. The Texas delegation will depart tomorrow, July 8, 2023 and return on July 15, 2023. During the trip, the delegation will tour businesses and hold meetings with European leaders to promote Texas’ world-class economy and attract more global business investment to the state. This will be First Lady Abbott’s second trip to Germany, the United Kingdom, and France.
“Thanks to the strength of our skilled and growing workforce, Texas is a magnet for business investments from around the world,” said First Lady Abbott. “I am proud to represent the people of this great state as we again travel to Germany, the United Kingdom, and France with Secretary Nelson, Economic Development & Tourism Executive Director Adriana Cruz, and members of the delegation representing our Texas business and community partners. We look forward to meeting with business leaders and officials to further strengthen our already strong relationships and explore new opportunities to grow jobs and expand economic opportunity here in the Lone Star State.”
“Texas’ strong economy offers many opportunities for investment and partnership to benefit both our state and Europe,” said Secretary Nelson. “I’m delighted to join the First Lady in representing Texas on this important economic development mission”
Germany is second among all nations for the number of foreign direct investment projects in Texas. In the last decade, German companies have invested $9.4 billion in capital investment through 141 projects in Texas, creating more than 11,900 jobs. In 2022, Texas’ total trade with Germany totaled $17.3 billion, making Germany the state’s 13th-largest total trade partner. That same year, Texas exports to Germany totaled $8.3 billion. Texas exports account for 11 percent of all U.S. exports to Germany.
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 last decade, companies from the United Kingdom have invested $5.6 billion in capital investment through 337 projects in Texas, creating more than 15,100 jobs.
France is the largest European destination for Texas LNG exports. Over the last 10 years, French companies invested $5.7 billion in capital investment through 83 projects in Texas, creating more than 7,000 jobs. In 2022, Texas imports from France totaled $4.1 billion, and Texas exports to France totaled $11.5 billion. Last year, Texas trade with France totaled $15.6 billion, making France the state’s 14th-largest total trade partner.
The trip will be 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 Office of Economic Development and Tourism, these two organizations make up the cornerstone of Governor Abbott’s economic development agenda to build the Texas of tomorrow.
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