Texas targets post-Brexit businesses: Move here

Story highlights

  • The campaign to lure London companies is run by a Texas nonprofit
  • Texas Gov. Greg Abbott hopes to capitalize on the fallout from Brexit

Washington (CNN)Texas has a message for London businesses that might suffer after Brexit -- move to the Lone Star State for the "freedom to prosper."

TexasOne, a nonprofit organization that does the marketing for the Texas' economic development office, announced Saturday it launched an ad campaign in London during the Fourth of July weekend urging business executives there to "declare independence from high taxes" and relocate to Texas following the U.K. referendum to leave the European Union.
    Texas Gov. Greg Abbott also tweeted on Saturday, "Dear British businesses: Declare your independence from high taxes by doing business in Texas."
    Tracye McDaniel, the president and CEO of TexasOne, said in a statement that Texas "is inspiring a business revolution."
    "Independence Day is the perfect opportunity for Texas to launch this campaign in the U.K. to highlight how Texas offers companies the freedom to prosper and is a beacon of opportunity," she said in the statement.
    The ads could be seen on the Financial Times home page and 7,000 other London-based websites with Twitter and Facebook promotions.
    Brexit, or the United Kingdom voting to leave the European Union, has affected markets across the world. The U.K. Treasury chief George Osborne said the country will be "poorer" as a result of the effect Brexit had on the country's economy. He added that the U.K. will have to cut spending and raise taxes.