Texas to open new office in London, report says

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London’s Lady Mayor, Susan Langley & Texas Governor, Greg Abbott (Courtesy: @CityofLondon on X)

AUSTIN - The State of Texas is looking to put businesses in the United Kingdom on their radar, with the launch of a dedicated London office expected this month, according to a report by The Guardian. 

The intention is to lure jobs and investment to the low-tax Lone Star State.

Texas sets sights on UK financial giants

The Red Lion British Pub in Houston flies the United Kingdom flag at half-mast on the day following the death of Her Majesty The Queen Elizabeth II, Thursday, Sept. 8, 2022, in Houston. (Photo by Marie D. De Jesus/Houston Chronicle via Getty Images)

What we know:

On Sunday, The Guardian reported that Texas recently secured approval for a new site in London, which will be led by James Taylor, a partner of a lobbying and public relations firm based in Austin. The approval of the London-based office would add to a growing list of international offices from which the state can try to draw corporate entities across its borders.

Lobbyists who will reportedly be working in the London office are likely to court U.K. businesses, which are expected to include London banks and investment houses, as the State of Texas brings many benefits for business in the state of Texas. 

The benefits for businesses that choose to base their headquarters in the Lone Star State include fast-track business courts, and sometimes up to multimillion dollar subsidies due to Texas not charging corporation tax or income tax.

The City of London and TXSE

HONG KONG, CHINA - 2024/06/21: In this photo illustration, the proposed new national stock exchange The Texas Stock Exchange (TXSE) logo seen displayed on a smartphone with an economic stock exchange index graph in the background. (Photo Illustration

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Local perspective:

Governor Abbott and the State of Texas’ international business ambition seemingly caught the attention of the City of London Corporation. 

In late February 2026, London’s Lady Mayor, Susan Langley, traveled to Dallas to discuss how London could tap into the state’s first dedicated stock market, the Texas Stock Exchange (TXSE). The TXSE is an officially registered national securities exchange system that intends to launch trading as well as ETP and corporate listings in 2026.

"As two globally significant economies, London and Texas are natural partners, and this meeting signals a renewed ambition to deepen cooperation, drive investment, and strengthen transatlantic ties," the City of London Corporation said in a social media post.

UK firms eyeing an exit?

Big picture view:

Texas’ global presence, with offices in Mexico, Taiwan and more, is designed to attract foreign direct investment and job creation into the state, while also helping Texas companies export worldwide. 

UK businesses have been abandoning the London Stock Market, with over 150 choosing to leave the London Stock Exchange, abandoning it and choosing either to go private or shift their listings to hubs overseas.

Mid-April launch

What's next:

Linda McMahon, the head of the Dallas Economic Development Corporation, reposted the Guardian report stating that she will be part of a delegation of local lobbyists traveling to London this month to mark the launch of the office in mid-April.