Holcomb Leads Indiana Trade Mission to Taiwan, South Korea | national news

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Governor Eric Holcomb and a delegation of Indiana business and education leaders begin a week-long Asian trade mission that includes visits to Taiwan and South Korea.

The Hoosiers were due to arrive early Sunday morning local time in Taipei, Taiwan, for two days of meetings with business leaders, top academics and government officials from the Chinese island nation home to nearly 24 millions of people.

They will travel to South Korea on Wednesday for two more days of public events and private conferences before returning home to Indiana on Saturday.

“It’s going to be a busy week of high-caliber, high-potential meetings,” Holcomb said in an interview with The Times.

The Republican Chief Executive is the first US state governor to visit Taiwan since before the COVID-19 pandemic. The last trade mission by an Indiana governor to Taiwan was led by Republican Gov. Mitch Daniels 17 years ago.

Holcomb said partnerships with Taiwan are especially critical today as Indiana bets on semiconductors, thanks in part to the CHIPS and Science Act recently signed into law and championed by U.S. Sen. Todd Young, R-Ind. ., and U.S. Representative Frank J. Mrvan. , D-Highland, and a $1.8 billion SkyWater Technology semiconductor research, development and production facility to be built in West Lafayette.

The hometown of Purdue University will also soon be the US base for chip design by Taiwan’s MediaTek, which supplies chips for wireless communications, high-definition televisions, portable mobile devices, navigation systems and consumer multimedia products.

“Taiwan is sort of the center of gravity for semiconductor design and production,” Holcomb said. “So we come across a number of companies that are not just revolving around semiconductors, but the industries that will drive the economies of the future.”

Mark Lundstrom, dean of Purdue’s College of Engineering, and Purdue University president-elect Mung Chiang join the governor for parts of the trade mission, along with representatives from the state’s commerce agency, the Indiana Economic Development Corp.

“Boilermakers have long-standing academic partnerships with institutions in Taiwan and South Korea, and we look forward to attracting tech companies and jobs to the hard tech corridor in Hoosier State,” said Chiang said.

The governor, however, insisted that the long-term benefits of his trip to Asia will reverberate across the state, though it appears West Lafayette sees most of the short-term gains.

“Northwest Indiana is on a direct flight path from one of our nation’s largest economies to our state’s capital with Purdue sort of in the middle. logistically, corporate access to talent, and then manufacturing and design. So, yes, we’ll be promoting the entire state of Indiana, and I think our track record is going in that direction,” Holcomb said. .

Meanwhile, Holcomb stressed that the focus in South Korea in the second half of the week will include advanced manufacturing, agriculture, biosciences and other industries that already have a well-defined niche in the market. northwest Indiana.

“I am committed to building an economy of the future with these global partners who are helping propel Indiana forward by creating the businesses of tomorrow, today,” Holcomb said.

Indiana Secretary of Commerce Brad Chambers said the overall goals of the trade mission include not only renewing and growing Indiana’s economic and academic partnerships, but also strengthening the commitment of the State towards innovation and interest in working across international lines to build the economy of the future.

“The unprecedented economic progress Indiana has achieved this year doesn’t happen without like-minded partners here and around the world,” Chambers said. “A shared commitment to innovation and collaboration is essential to our continued success, and I’m excited to spend the week building on that collaboration with our friends in Taiwan and South Korea.”

Holcomb said there’s a ‘0% chance’ he’ll make a surprise visit to North Korea on this trip, even though Kim Jong-Un, North Korea’s supreme leader, may be as big a basketball fan as the big Hoosier boss.

Instead, Holcomb plans to focus on building and nurturing business relationships with South Korean business leaders and speaking about Indiana’s commitment to innovation to members of the House of Commons. American trade in Seoul.

“I couldn’t be more energetic to spend this week building new relationships, strengthening long-standing ones and strengthening key industry partnerships with Taiwan and South Korea,” Holcomb said.

Indiana is already home to more than 1,050 foreign business establishments, representing more than 40 countries and territories, including 10 from Taiwan and 12 from South Korea.

In 2021, 47 foreign companies have committed to establishing or expanding in Indiana. Together, these companies plan to invest $3.55 billion in Indiana, creating jobs with an average wage of $29.57 per hour and accounting for 14% of total new jobs hired last year. according to the IEDC.

Records show this is Holcomb’s 12th international economic development trip since taking office in 2017.

The cost of the trade mission is paid for by private donations to the Indiana Economic Development Foundation.

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