07 19 2024 Gov. Holcomb to travel to Australia, Singapore to foster new opportunities in the global economy

INDIANAPOLIS - Governor Eric J. Holcomb will depart on an international economic development trip to Australia and Singapore this weekend to cultivate new collaborations and opportunities with each region across government and industry. The trip will focus on growing partnerships to advance mutually beneficial economic development, innovation and talent development in key shared sectors such as advanced manufacturing, defense and energy.

"Indiana is celebrating win after win thanks to our strategic focus on cultivating a globally minded, future economy," said Gov. Holcomb. "Australia and Singapore both represent significant partnership opportunities due to their strengths in bolstering innovation, attracting and developing talent and cultivating growth in critical sectors. I look forward to taking Indiana's message across the Pacific and working to foster new opportunities for our businesses and our residents."

Gov. Holcomb, First Lady Janet Holcomb and Indiana Secretary of Commerce David Rosenberg will depart Indianapolis for Australia on Saturday, July 20, and return from Singapore on Tuesday, July 30. They will be joined by representatives of the Indiana Economic Development Corporation (IEDC).

Indiana shares strong trade ties with both regions, with imports and exports topping $1.8 billion and $944 million with Australia and Singapore, respectively. The state is home to 32 Australian business establishments, including C&R Racing, CSL Plasma, Everstream, Pratt Paper, SalesPond and Tronics, and two Singaporean-owned businesses. Both regions host a number of Indiana-based businesses, with CAI, Eli Lilly and Company and Zimmer Biomet operating in both Australia and Singapore.

AUSTRALIA

In Sydney, Gov. Holcomb will meet with U.S. and Australian government officials, including New South Wales Minister for Agriculture Tara Moriarty and U.S. Consul General in Sydney Christine Elder, to discuss shared strengths and opportunities between Indiana and Australia. The delegation will also attend a roundtable discussion at the U.S. Studies Centre at the University of Sydney, which aims to enrich the Australia-United States relationship, joining industry and government leaders and students to discuss economic and policy connections between the two countries and to highlight Indiana's growing leadership position in the U.S. and globally.

The governor and Sec. Rosenberg will also meet with executives of Australia-based businesses, including Rux Energy, which is helping enable the shift to low-cost green hydrogen. Gov. Holcomb will also address guests from business, government and academia at a reception hosted by U.S. Consul General Elder, highlighting Indiana's focus on global engagement and the growing ties between Indiana and Australia.

On Wednesday, the delegation will travel to Melbourne to continue fostering ties. Gov. Holcomb will meet with representatives of the state of Victoria to explore partnership opportunities between Indiana and Victoria, which boasts strong advanced manufacturing, defense, energy and life sciences industries. The delegation will also meet with leadership of the American Chamber of Commerce (AmCham) in Victoria and attend a roundtable hosted by the chamber in partnership with IFM Investors, a Melbourne-based institutional investor and asset manager that has invested in the Indiana Toll Road.

SINGAPORE

On Saturday, Gov. Holcomb and the delegation will travel to Singapore, known for its pro-growth business climate, advanced connectivity and infrastructure, innovation and advanced manufacturing exports. The governor will meet with U.S. and Singaporean government officials and representatives of Enterprise Singapore - the government's enterprise development office, to discuss opportunities to increase investment, trade and innovation between Indiana and Singapore.

Gov. Holcomb and Sec. Rosenberg will also meet with members of the Singapore business community interested in expanding to the U.S. at a business and industry roundtable hosted by Enterprise Singapore, pitching Indiana as a competitive destination.

Indiana is home to more than 1,050 foreign-owned business establishments, representing more than 40 countries and territories. In 2023, foreign-owned companies committed to investing $20.49 billion to locate or expand operations in Indiana - a 182% increase from 2022 and 71% of the IEDC's total committed capital investment in 2023 - and create approximately 8,500 new Hoosier jobs.

This marks Gov. Holcomb's 24thinternational economic development trip as governor and his first official visits to Australia and Singapore. The cost of the governor's travel is being paid through private donations to the Indiana Economic Development Foundation.

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