Indiana Gov. Eric J. Holcomb recently signed a memorandum in Toronto, Canada, entitled the “Memorandum of Understanding on Economic Cooperation and Trade Relations Between the State of Indiana in the U.S. and the Province of Ontario in Canada.”
Following the signing, Holcomb, Ontario provincial officials and the Indiana delegation visited Toronto’s MaRS Discovery District – a public-private partnership dedicated to commercializing publicly funded research and technology with the help of local private enterprises.
Holcomb and Ontario Premier Kathleen Wynne then released a joint statement following their meeting:
“Ontario and Indiana share a strong partnership – one that is vital to the success of workers and businesses in both our regions and to our economies. Today, we signed a memorandum of understanding (MOU) that will enable Ontario and Indiana to work together even more closely to build on our economic growth, create a more competitive business climate, foster collaboration in research and technology, and create the good jobs that will help our people succeed in a rapidly changing economy.
“Ontario and Indiana are more than good neighbors – our trade partnership is a major economic driver for our regions. Ontario is Indiana’s top Canadian export customer and in 2017, two-way trade between the two regions totaled more than $15 billion ($20 billion CAD). Nearly 190,000 Indiana jobs depend on trade and investment with Canada, with more than 110 Ontario-owned corporations and small businesses operating in the state, employing approximately 14,000 Indiana residents.
“The MOU we signed today will strengthen the economic relationship between Ontario and Indiana through greater collaboration and shared best practices across economic development and investment, workforce development, academics, infrastructure, regulatory modernization, life sciences, information and communications technologies, advanced manufacturing and materials, automotive, aerospace and aviation, and agriculture and agriculture technology between our automotive, infrastructure, advanced manufacturing, aerospace and aviation, agricultural, life sciences, academic research and tech-based sectors. This continued cooperation will foster innovation and give us a competitive edge in the global market, helping people and businesses on both sides of the border thrive.
“Ontario and Indiana remain committed to exploring new opportunities to collaborate in order to drive more growth and innovation in a period of economic change. By working together, we can achieve our shared goal of a bright, prosperous future for the people of Ontario and Indiana.”