Governor Abbott To Lead Economic Development Mission

Office of the Texas Governor | Greg Abbott | Press Release

Governor Greg Abbott announced he will lead an economic development mission to Taiwan, South Korea, and Japan, organized by the Governor’s Economic Development & Tourism Office and the Texas Economic Development Corporation. The Governor will depart today, July 5, 2024, and return July 13, 2024. During the three-nation trip, the Governor will meet with world-class businesses and government leaders to drive forward progress in industries critical to the future of the global economy.

“As we look towards the future, Texas is leading the way by advancing freedom and opportunity through cooperation and mutual economic development to empower the next generation,” said Governor Abbott. “Texas offers businesses in critical and emerging industries, such as semiconductors and advanced manufacturing, across the country and around the world the tools and the opportunities to grow and thrive. I look forward to meeting with business and government leaders in Taiwan, South Korea, and Japan to strengthen our economic and cultural partnerships as we work together to forge the future of innovation.”

The Governor will be 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, Texas Economic Development Corporation Board Secretary Adrian Cannady, Texas Economic Development Corporation President & CEO Aaron Demerson, and a delegation of five Texas legislators and 23 Texas business and community leaders. Gromer Jeffers with The Dallas Morning News will also join the delegation as the Texas pool reporter.

Since taking office in 2015, Governor Abbott has led multiple business development missions to Cuba, France, India, Israel, Japan, Mexico, and the United Kingdom. First Lady Abbott and the Texas Secretary of State have also led business development missions to the United Kingdom, Germany, and France. During the most recent trips in 2023 and 2024, Governor Abbott signed economic development agreements between Texas and France and Texas and the United Kingdom to promote trade, foster innovation, and attract new foreign direct investments to Texas. This will be the Governor’s first visit to Taiwan and South Korea and his third trip to Japan.

Taiwan led all nations for foreign direct investment in Texas in 2022 at over $5 billion. Over the past 10 full years through 2023, companies from Taiwan have invested $5.29 billion in eight foreign direct investment projects creating more than 2,200 jobs in Texas. In the first five months of 2024, Taiwanese companies have invested $103 million in two additional projects expected to create more than 220 new jobs in Texas. Texas trade with Taiwan totaled $21.3 billion in 2023, making Taiwan the seventh-largest total trade partner with Texas.

South Korea leads all nations for foreign direct investment by amount of total capital investment in Texas over the last decade. Over the past 10 full years through 2023, companies from South Korea have invested $20.59 billion in 38 projects creating more than 7,000 jobs in Texas. In the first five months of 2024, South Korean companies have invested $27.52 billion in nine additional projects expected to create more than 4,800 new jobs in Texas. Texas trade with South Korea totaled $32 billion in 2023, making South Korea the fourth-largest total trade partner with Texas.

Japan leads all nations for the number of jobs created by foreign direct investment projects in Texas over the last decade. Over the past 10 full years through 2023, companies from Japan have invested $10.87 billion in 129 projects creating more than 20,000 jobs in Texas. In the first five months of 2024, Japanese companies have invested $1.47 billion in six additional projects expected to create more than 520 new jobs in Texas. Texas trade with Japan totaled $31.2 billion in 2023, making Japan the fifth-largest total trade partner with Texas.

Business and community leaders of the Texas delegation participating in the economic development trip, with Texas legislators joining for the Taiwan portion, include:

• Chairwoman Angie Chen Button
• Senator Carol Alvarado
• Senator Tan Parker
• Representative Gio Capriglione
• Representative Jacey Jetton
• City of Amarillo Economic Development Corporation President and CEO Kevin Carter
• The Borderplex Alliance Executive Vice President Marcos Delgado
• Brazos Valley Economic Development Corporation President and CEO Susan Davenport
• Calpine CEO Thad Hill
• CenterPoint Energy Executive Vice President, Regulatory Services & Government Affairs Jason Ryan
• City of Dallas Office of Economic Development Assistant Director for Business & Community Development, Heather Lepeska
• City of Dallas Economic Development Corporation President John Stephens
• Dallas Regional Chamber Senior Vice President of Economic Development Mike Rosa
• Development Corporation of Abilene President and CEO Misty Mayo
• Fort Worth Economic Development Partnership Executive Vice President Jessica Heer
• Frisco Economic Development Corporation Vice President Gloria Salinas
• Greater Houston Partnership Senior Vice President for Economic Development Craig Rhodes
• Greater San Marcos Partnership President and CEO Mike Kamerlander
• greater:SATX President and CEO Jenna Saucedo-Herrera
• Greater Waco Chamber of Commerce Executive Vice President for Economic Development Kris Collins
• Houston Airport System Deputy Director of Global Industry and Government Affairs Saba Abashawl
• Irving-Las Colinas Chamber of Commerce Vice President of International Affairs Joe Chapa
• Kilgore Economic Development Corporation Executive Director Lisa Denton
• McKinney Economic Development Corporation President & CEO Michael Kowski
• Opportunity Austin CEO Ed Latson
• Ryan, LLC Principal-Credit Incentives Maher Maso
• City of Temple Economic Development Corporation President and CEO Adrian Cannady
• City of Victoria Economic Development Corporation President Jonas Titus

The following events are scheduled for the first day of the economic development mission in Taiwan:

• Meeting with Taiwan President Lai Ching-Te
• Economic Development Statement of Intent signing with Taiwan Minister of Economic Affairs Jyh-Huei Kuo
• Announcement on Texas strengthening economic ties with Taiwan

The trip is 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 are the cornerstone of Governor Abbott’s economic development agenda to build a bigger, better Texas.