Texas: Governor Abbott Hosts German Federal Minister Of Labor And Social Affairs Heil In Austin
Txylo.com/10282244

~ Austin, Texas - Governor Greg Abbott welcomed Federal Minister of Labor and Social Affairs for the Republic of Germany, Hubertus Heil, and other German leaders to the Governor's Mansion today. The meeting focused on strengthening the economic partnership between Texas and Germany, with a particular emphasis on industries such as artificial intelligence (AI), energy, and semiconductors.

Governor Abbott highlighted Texas' position as the top state for semiconductor manufacturing and the number one exporter of semiconductors in the nation. He also discussed ways in which Texas' all-of-the-above energy strategy can continue to support Germany's energy needs. The Governor praised Texas as the leading state for liquefied natural gas (LNG) exports and stressed the importance of collaboration in the energy industry to meet national security needs for both Texas and Germany.

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In addition to economic partnerships, Governor Abbott championed Texas' business-friendly environment and favorable regulatory climate as key factors for companies from critical industries to expand or relocate to the state.

Germany is second only to China in terms of foreign direct investment projects in Texas. In the last decade alone, German companies have invested $11.97 billion through 145 projects, creating over 12,800 jobs. In 2023, total trade between Texas and Germany reached $18.8 billion, making Germany the state's ninth-largest trade partner. During that same year, Texas exported $8 billion worth of goods to Germany, accounting for 10.4 percent of all U.S. exports to the country.

The meeting between Governor Abbott and Federal Minister Heil highlights the strong economic ties between Texas and Germany and their shared commitment to continued collaboration in various industries. Both leaders expressed optimism about future opportunities for growth and cooperation between their respective economies.

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