Gov. Abbott declares Texas as America’s new financial capital at Annual Convention
Governor Greg Abbott formally declared Texas the new Financial Capital of America at the Texas Bankers Association’s 141st Annual Convention in Dallas on Thursday.
A combination of the most financial services employees of any state, the most banks of any state, the most community banks of any state, a business-friendly tax and regulatory environment, and a growing, sustainable economy are among the key contributors to the proclamation. The Governor also noted the remarkable growth of financial services infrastructure here, as well as the rise of the Texas Stock Exchange and the expansion of NYSE and Nasdaq in the Lone Star State. Further, the adoption of socialist policies, hyper-taxation, and government weaponization by other jurisdictions, such as New York, are fundamentally incompatible with being the home and epicenter of American capitalism and free enterprise.
“Texas would not be what it is today without our banks and other financial institutions,” said Governor Abbott. “Think of the massive tidal wave of economic growth we have in our state, and you can see what the promise of the economic future looks like. Growth cannot be accomplished without capital and access to capital, and TBA has been a part of that since the beginning. When Texans succeed, the state succeeds, and that is why we have the best economy of any state in the United States.”
“The Texas banking sector has a deep bench with a unique combination of globally active banks and the most vibrant community and mid-size banks in America,” said TBA President and CEO Chris Furlow. “Our banking sector’s strength and depth is a true differentiator not seen in other states or other countries. America is choosing Texas. The world is choosing Texas.”
During the fireside chat, Governor Abbott highlighted Texas’s standing as the nation’s premier destination for business and investment. The Governor noted that Texas has been named the Best State for Business for 21 consecutive years, the number one state for economic development for 14 years, and the national leader in job creation. Texas is also home to more Fortune 500 headquarters than any other state.
The Governor emphasized that Texas’ continued economic momentum depends on investing in the workforce of tomorrow. Texas’ workforce development initiatives ensure Texans are prepared to fill the state’s growing number of high-demand jobs and attract more financial business investment.
Check out Governor Abbott’s declaration here.