The economic relationship between Japan and Texas has grown significantly over the last 10 years. In 2022, the Lone Star State attracted 96 new Japanese companies set up shop in the U.S. state and 119 Japanese investment projects worth $6.9 billion in capital investments.
To find out more about that thriving business relationship, GMI POST met with the Consul General of Japan in Houston Hirofumi Murabayashi, who shared his insights into what makes Texas and Japan ideal partners.
“Out of all the ports in the United States, the Port of Houston emerged No. 1 in 2021 in exports to Japan in terms value in U.S. dollars. It used to be only around No. 6,” said Murabayashi, who added that the number of Japanese companies in Texas grew from 300 in 2015 to almost 450 by 2020.
The consul general attributes the increase of Japanese business in Texas to the state’s business-friendly tax policies, the determined efforts of various Texan cities and economic development corporations to attract Japanese investment, the availability of land, the relatively low cost of living compared to other major states, as well as its welcoming spirit and cultural diversity.
“It is not just the U.S. and Japan governments that are improving relations between Japan and the U.S. It’s the entire American and Japanese communities that are strengthening the bonds between both sides,” said Murabayashi.
Since he took up his position in November 2021, the consul general remains committed to further strengthening the economic partnership between Japan and Texas.