INDIANAPOLIS (Aug. 21, 2017) – Governor Eric J. Holcomb will lead a
delegation of business leaders and economic development officials next
month to Japan, the state’s largest foreign investor, to strengthen
relationships and encourage continued investment and trade between the
two states.
“The cultural and economic ties between Indiana and Japan are storied
and strong,” Governor Holcomb said. “With more than 280 Japanese
businesses operating in Indiana today, the state’s relationship with
Japan is crucial to our economy and to supporting Hoosier jobs across
the state. I look forward to advancing these partnerships as we work
together to take Indiana to the next level.”
Departing Indiana on Sept. 7 and returning on Sept. 15, the Governor
will travel to Tokyo, Nagoya and Tochigi Prefecture, Indiana’s
sister-state. During the trip, he will meet with Japanese government
officials, national business chambers and executives of Japanese
companies with operations in Indiana, including Subaru, Toyota and
Honda. The Governor will also participate in the Midwest U.S.-Japan
Association Conference, an annual meeting to convene business and
government representatives from 10 Midwest states and Japan.
Among all U.S. states, Indiana is home to the largest amount of Japanese
investment per capita in the nation, with more than 280 Japanese
businesses that support more than 58,000 Hoosier jobs. Additionally,
Indiana is the only U.S. state with three Japanese automotive original
equipment manufacturers (OEM) and exports $1.6 billion of Hoosier-made
goods to Japan annually, making the country Indiana’s fifth-largest
export location in the world.
Since 2013, the Indiana Economic Development Corporation (IEDC) has
secured nearly 70 commitments from Japan-based firms to locate or grow
in the state, together planning to invest $3.16 billion and create more
than 7,600 new jobs in the coming years. Already this year, Toyota Motor
Manufacturing of Indiana announced plans to invest $600 million in
its Princeton operations and create up to 400 new jobs by the end of
2019, while NTK Precision Axle Corporation and Kimura Foundry
America both announced plans to establish new manufacturing
facilities in Anderson and Shelbyville, respectively.
The cost of the state delegation, which will include Indiana Secretary
of Commerce Jim Schellinger, is being covered through private donations
to the Indiana Economic Development Foundation, and the IEDC’s office in
Tokyo will assist with trip arrangements. A full itinerary and list of
delegates will be made available closer to the date of the trade
mission.
ABOUT IEDC
_The Indiana Economic Development Corporation (IEDC) leads the state of
Indiana’s economic development efforts, helping businesses launch, grow
and locate in the state. Governed by a 15-member board chaired by
Governor Eric J. Holcomb, the IEDC manages many initiatives, including
performance-based tax credits, workforce training grants, innovation and
entrepreneurship resources, public infrastructure assistance, and talent
attraction and retention efforts. For more information about the IEDC,
visit www.iedc.in.gov.
