[co-authors: Alex Gomez, David Barbour, Kathleen Wu]*
1. What is the current business climate in your jurisdiction including major political, economic and/or legal activities on the horizon in your country that could have a big impact on businesses?
We currently have a good, business-friendly climate in Texas. Our jurisdiction has seen a large, inbound increase of individuals and corporations relocating to our market. Texas boasts lower housing costs, lower tax rates, an experienced talent pool, and regulations that have made it easier for companies to operate. A few notable companies that have relocated or that will be relocating their headquarters to Texas include: Toyota, Tesla, McKesson, AECOM, Oracle, and Charles Schwab.
2. From what countries do you see the most inbound investment? What about outbound?
A few of the countries our firm sees inbound work from include: Denmark, Mexico and South Korea. We also receive referrals from WLG affiliates across the network and throughout the US.
3. In what industries/sectors are you seeing the most opportunity for foreign investment?
Energy, Infrastructure, Technology
4. What advantages and pitfalls should others know about doing business in your country?
Advantages
- Business friendly laws
- Conservative court (aids to business friendly)
- Fast tracked
Pitfalls
- Laws can vary from state to state in the US. It is important to understand the different jurisdictions and work with practitioners that know the ins and outs of their specific markets.
5. What is one cultural fact or custom about your country that others should know when doing business there?
Boots and cowboy hats are completely acceptable in Texas as long as you check your hats at the courtroom door.
*Hunton Andrews Kurth LLP
