I was in Texas this June as part of a trade mission in the company of Mondo America, Orbi Group and Geo-Plus (and I would advise you not to travel there at that time of the year as the weather can be horribly hot and humid). I was surprised to observe just how well Texas was pulling through the current economic situation. In fact, since Texans did not speculate heavily in real estate, the market there has remained relatively stable.

There are therefore business opportunities for exporters. I made the following notes, which I would like to share:

Dallas: This area does not seem to be very well known abroad. It has the highest concentration of academics and academic institutions in Texas. A number of organizations in the cancer research sector, both public and private, have been established there. The technology (including manufacturers such as Texas Instruments) and defence industries are expanding.

Houston: This city attracts millions of dollars’ worth of investments every year. A great deal of money has been spent to encourage major companies to establish themselves in the area, and the strategy certainly seems to have been successful. Furthermore, Houston has set itself the goal of being a “green” city, so all future construction projects will have to receive LEED (Leadership in Energy and Environmental Design) certification.

Northwest Arkansas (to be sure, this is another state, but the information below demonstrates the economic vitality of the region) is an extremely dynamic area that offers good opportunities for companies in the agri-food (for example, Tyson is based there) and logistics sectors, as well as for those providing products and services to manufacturers. In fact, 15% of revenues in the region come from manufacturing, in comparison with the U.S. national average of 11%.

The Texan economy will continue to thrive. On the one hand, current growth leads both local and foreign companies to invest in the area while, on the other, such growth attracts the migration of workers from other states. The number of Florida licence plates now seen on Texan roads is but one proof of this, as the economic slowdown in the Sunshine State drives people to look for work in Texas.

If you would like to learn more about this particular market, feel free to send us your questions. You are also invited to share your knowledge. In addition, the LTIBC team held a number of meetings during its trip to Texas, which has enlarged its network of contacts in the state. The latter could certainly help you develop or expand your business in this market.