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AUSTIN, TEXAS – A coalition of leading Texas business trade associations today issued a joint statement strongly objecting to the increasing interference of outside influencers and proxy advisory firms attempting to dissuade companies from redomiciling in the Lone Star State. The Texas Association of Business, Texans for Lawsuit Reform, Texas Oil and Gas Association, Texas Civil Justice League, Texas Chemistry Council and the Texas Association of Manufacturers expressed concern that out-of-state entities are prioritizing political agendas over shareholder value. This coalition, representing thousands of employers across the state, assert that the recent wave of corporate interest in Texas is a direct result of the state’s proactive steps to create the most stable, predictable, and sophisticated business environment in the United States.

“Texas has recently enacted landmark corporate governance reforms designed to provide businesses with the clarity and legal certainty they require in a modern economy. Central to this evolution is the establishment of the new Texas Business Courts, which provide a specialized judiciary with the expertise to handle complex commercial disputes efficiently. Unlike the unpredictable legal landscapes found in other jurisdictions, the Texas system is built on a foundation of judicial restraint and legal excellence, ensuring that corporate leadership can focus on growth rather than meritless litigation.

“Despite these clear advantages, certain proxy advisors continue to recommend against Texas moves, revealing a profound conflict of interest rooted in their ties to politically motivated organizations such as CalPERS and various labor unions. These advisors are weaponizing their influence to advance ideological goals that often run contrary to the financial health of the companies they evaluate. Their opposition to Texas is not based on economic data or legal reality, but rather on a desire to maintain leverage over corporate boards via jurisdictions that favor activist agendas over shareholder returns.

“A conflict of interest also exists as certain proxy advisors are in a high-profile legal challenge to block the Texas Attorney General’s Office enforcement of a 2025 law that imposes extensive public and directed disclosure obligations on proxy advisory firms. The law applies to firms whose recommendations are not solely in the financial interest of equity holders. 

“The coalition calls upon corporate boards and institutional investors to see through the biased noise of these outside influencers. The decision to redomicile in Texas is a decision to embrace a future of economic freedom, judicial predictability, and robust capital markets. Texas business leaders remain committed to defending the state’s right to compete and will continue to welcome any company seeking to escape the stagnation of politically charged business climates for the unparalleled opportunities found only in Texas.”

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