Serial entrepreneur and textile executive chairs the TxEDC Board of Directors.
Texas maintains a unique public-private partnership that serves as the primary economic development marketing and promotion arm for the Lone Star State. The Texas Economic Development Corporation (TxEDC), whose board is appointed by Governor Greg Abbott, is an independently funded and operated 501(c)(3) nonprofit organization responsible for marketing and promoting Texas, both domestically and internationally, as a premier business location.
Along with the Governor’s Texas Economic Development & Tourism Office, these two highly focused organizations comprise the foundation of Governor Greg Abbott’s economic development agenda.
Through national and international investment attraction missions, industry events, media relations, advertising and other programs, TxEDC spreads the word of Texas’ business advantages to a target audience of corporate decision makers and site selection consultants. TxEDC markets the state through four primary means:
- Establishing a statewide network of business leaders to stimulate job-creating investment in Texas.
- Executing a plan to market Texas across the U.S. and globally as the destination of the future.
- Expanding the state’s presence with national and international trade visits.
- Elevating and promoting economic growth of existing business and regions throughout Texas.
Financial support for TxEDC comes from a broad range of organizations, Fortune 500 companies and privately held enterprises throughout the state.
At the helm of the Board of Directors of TxEDC is Chairman Arun Agarwal, an accomplished entrepreneur and textile executive who moved to Texas in the 1990s to build a successful career and launch multiple companies.
Photo courtesy of TxEDC
The Dallas-based Agarwal is the CEO of Nextt and has business interests in textiles, cotton trading and real estate. He is chair of the India American CEO Council, president of the Dallas Parks & Recreation Board and a board member of the U.S. India Friendship Council, U.S. India Chamber of Commerce DFW, and the Texas Tech Innovation HUB at Research Park. He is a volunteer and board member of Gift of Life and a volunteer for CHETNA and the Living Dreams Foundation. In addition, Agarwal received a master’s degree in business administration from IMT, Ghaziabad, a master’s degree in computer information systems from Southern New Hampshire University and a master’s degree in international business from Harvard University.
We recently caught up with Agarwal for the following discussion on his career in business and his leadership role in promoting economic development in Texas.
Many people and companies continue to flock to Texas from all over the world, but you have your own unique story. Can you share it with us?
ARUN AGARWAL: I like to tell people that I was born in India but made in Texas. I went to school in the 1990s before moving to Texas and eventually started my own company in textiles here in 2000. We created one of the largest textile companies before we got into other businesses like technology investment. And now I have been involved in founding a professional cricket league and working on developing new facilities and arenas for that sport in Texas.
“Texas is the epitome of the business success story. People outside of Texas always had this very narrow point of view as Texas only being oil and gas. We’re proud of that success—but Texas is so much more.”
— Arun Agarwal, Chairman of the Board, Texas Economic Development Corporation
How did you get involved with the state and the TxEDC?
AGARWAL: I was honored when the governor asked me to lead economic development. I wasn’t actively seeking the role, but when the Governor of Texas calls on you to serve, the answer is a resounding yes. I had the honor of chairing Governor Abbott’s international business missions to both Europe and India. He is deeply committed to strengthening Texas’ global ties, particularly with India, and entrusted me to lead the efforts in building a robust and strategic partnership between our two regions.
How does the Texas Economic Development Corporation support the growth of business in Texas?
AGARWAL: Texas is known for its strong fiscal responsibility, evidenced by a significant budget surplus. TxEDC stands out as one of the most effective public-private partnerships in the country. We proudly serve as the marketing arm while also playing a key role in supporting its economic efforts. Our commitment is reflected in our funding model — we are fully backed by private-sector contributions, ensuring zero burden on taxpayers.
What do you feel are the best attributes of the Texas business climate?
AGARWAL: Texas is the epitome of the business success story. People outside of Texas always had this very narrow point of view as Texas only being oil and gas. We’re proud of that success—but Texas is so much more. We’re rapidly emerging as the semiconductor capital of the world and a rising powerhouse in global finance. More and more, people are recognizing the unmatched opportunities Texas has to offer. That became the story of Texas: what Texas is and what Texas can offer; and the growth we have all across this state.
When we travel on business missions, people are often amazed to learn that Texas has no state income tax. Once they witness our commitment to economic growth and development, their interest in Texas only deepens. At TxEDC, our mission is clear: to bring the world to Texas—and to show them why there’s no better place to invest, innovate, and live.
Why do you think so many companies continue to choose to move to Texas?
AGARWAL: We’re led by the most driven and effective CEO in the world—Governor Greg Abbott. He doesn’t just talk about economic growth; he lives it. From early mornings to late evenings, he’s actively engaged—meeting with CEOs across the globe and connecting with small businesses right here at home. Governor Abbott is hands-on, deeply committed, and consistently shows through his actions what true leadership looks like. Governor Abbott takes an active leadership role in supporting the businesses we serve—and that commitment is reflected statewide. One of Texas’ greatest strengths is our pro-business policy environment and the collaborative spirit behind it. Here, economic development is truly a team sport. It flows from the state level down to the local communities, where the real work takes place. And when it comes to driving growth, party lines don’t matter—Democratic and Republican representatives alike stand united in their support for economic development in Texas.
Governor Abbott announcing the launch of the Texas Stock Exchange (TXSE) during a press conference at the Governor’s Mansion in Austin.
Photo courtesy of Office of the Governor
What are your organization’s top goals and priorities for the coming year?
AGARWAL: Reaching the top is one thing and staying there is another. Texas has earned the Site Selection Governor’s Cup for an unprecedented 13 consecutive years, a testament to our unmatched economic momentum. Our goal is to maintain that leadership position, keep up that project momentum and keep closing deals. We will also focus on continuing to diversify our economic portfolio. For example, we’re launching the Texas Stock Exchange and establishing its operations in Dallas. And then, finally, as new businesses come here, we look at how we can provide an ecosystem of support for them. Under the new initiative of President Trump to bring more jobs and industry back to America, there will be a surge of companies wanting to move to Texas.
What else would you like people to know about TxEDC?
AGARWAL: Aaron Demerson, President and CEO of TxEDC has done an amazing job. I have never seen such a seamless work relationship between the Office of the Governor’s Texas Economic Development & Tourism Office and TxEDC. That relationship keeps the magic happening.
