TexAmericas Center (TAC) announced it will be one of 18 Texas-based companies to take part in a mutual cooperation and partnership agreement aimed at bringing small to mid-size businesses from Tokyo to Texas for expansion efforts.
The Statement of Mutual Cooperation with the Tokyo Metropolitan Government’s Bureau of Industrial and Labor Affairs was announced in late January by Texas Gov. Greg Abbott’s administration.
Along with other economic development partners from across the state, TexAmericas Center will help execute the program goals to assist businesses in Tokyo in expanding their operations, spurring economic developments in both Tokyo and Texas, and building great relationships built off of cultural respect for one another.
“TexAmericas Center can now use our resources and talents to put the Texarkana region on an international map for economic development,” said Scott Norton, Executive Director and Chief Executive Officer of TexAmericas Center. “We’re thankful for the governor’s pursuit of this agreement and we look forward to honoring it by making our business friends in Tokyo feel welcome in Texas.”
Information sharing, assistance in soft landing programs, offering referrals to services, and introducing partners to local contacts, companies, investors, and universities will be a priority for TexAmericas Center as part of the agreement.
"The State of Texas is proud to sign the Statement of Mutual Cooperation, further strengthening our already dynamic partnership with Tokyo and opening even more doors to economic expansion here in the Lone Star State," said Gov. Abbott during the announcement of the agreement on Jan. 27. "Tokyo and Texas may be half a world apart, but we are closing that gap by facilitating more investment and economic development between our two regions. I look forward to our continued work together as we create a more robust partnership and a more prosperous economic future."
According to Gov. Abbott’s office, more than 400 Japanese companies have operations in Texas. Japan was Texas’ 6th largest export destination in 2020 with more than $9.8 billion in exported goods.
“This partnership is an opportunity to build great relationships overseas, and one to show on an international level the expertise, resources, and opportunities that are at TexAmericas Center for small businesses that want to ease their way in to expanding,” said Eric Voyles, Executive Vice President and Chief Economic Development Officer at TexAmericas Center.
In 2021, third-party logistics partnerships grew at TexAmericas Center as companies looked to have their labor managed by a third party. This is something Voyles predicts more companies will rely on in the midst of pandemic-related disruptions to businesses and an opportunity to lessen the risk for others that want to expand but need support.
“We manage the labor and remove the stress and distraction as you look to grow your bottom line and opportunities with the support of TexAmericas Center,” Voyles said. “Beyond what we can offer as far as space and resources, we truly become a partner in how the work gets done. This scales especially to international clients, and we hope our friends in Tokyo can leverage this service.”
In 2021, nine new businesses relocated to TexAmericas Center, a 17 percent increase compared to the previous year. Those new businesses brought 60 new jobs to the region. The organization also completed construction on a 150,000-square-foot spec building and expanded its logistics services to include rail. With occupancy rates over 90 percent for its move-in ready buildings, TexAmericas Center will turn its attention to build-to-suit offerings in 2022.
TexAmericas Center is rich in opportunity and proactively engaged in developing business opportunities for the area. With more than 3.5 million square feet of industrial and office space and 12,000 acres of developable land, TexAmericas Center is a prime location for businesses looking to grow or expand into Texas and the Texarkana area.