Reprinted with permission from the Vincennes Sun-Commercial newspaper
November 28, 2023
Earlier this fall, Mayor Joe Yochum, Knox County Commission President Kellie Streeter, and I joined Gov. Eric Holcomb and Indiana Economic Development Corporation (IEDC) executives for a trade mission trip to Japan. Some may ask, why are trips like these important to Indiana — and particularly Knox County and Vincennes?
Here’s a key fact: Indiana has the highest concentration of U.S. foreign direct investment (FDI) from Japanese companies, and much of that is in our region. We took part in this mission to sustain sound and positive relationships with Japanese companies who have a stake in our region.
Knox County, of course, directly benefits with the local presence of Futaba Indiana of America Corporation, a Japanese entity that operates a major manufacturing center in Vincennes. Futaba directly supports manufacturing operations of Toyota in nearby Princeton, which gives you an idea of the critical connectivity inherent in FDI.
The Knox County local government participation also sends an important message: our local officials care enough about the substantial multi-million-dollar investments in southern Indiana that they will personally take the time, energy, and funds to visit in-person. That’s an important consideration that cannot be understated.
It’s important to know that FDI-centered companies in Indiana employ more than 200,000 workers, with more than half of those workers in important manufacturing jobs. More than 300 Japanese companies in Indiana employ more than 55,000 people. Several major Japanese subsidiaries, including Futaba and Excell in Knox County, directly serve the automotive manufacturing industry.
As one can imagine, there exists intense competition from many states and regions who would love to have these companies and jobs in their area. Through consistent performance and delivery, Indiana — and Knox County — are winning that competition. Indiana has earned a stellar reputation for successful investments, and Knox County is an important part of that.
Maintaining Japanese interest and attraction to Indiana is definitely not a static endeavor. Japanese express high interest in local workforce issues. To keep operations running at optimal levels, they need to retain qualified professionals and also need access to new workers to accommodate expected growth.
During these face-to-face meetings, we’re able to let key Japanese executives know how Knox County and the state of Indiana are actively addressing these needs. The face-to-face discussions and interchanges about these current issues go a long way.
These types of trips embody hard work in preparation and follow-up. Besides marketing the state and Knox County as excellent investment opportunities, we’re able to conduct the all-important follow-up. It’s always a good thing to remind companies of the great decision they made to invest and grow in Indiana and of course, Knox County.
Economic development — and especially international economic development — is literally a contact sport. When you read of or even drive by a Japanese manufacturing facility in southern Indiana, one can appreciate much more deeply the dynamics required for our region to maintain a robust, mutually beneficial relationship with Japan.
Economic development — and especially international economic development — is literally a contact sport. When you read of or even drive by a Japanese manufacturing facility in southern Indiana, one can appreciate much more deeply the dynamics required for our region to maintain a robust, mutually beneficial relationship with Japan.