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IEDC leads European trade mission

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Officials from five of Indiana’s largest economic development organizations, Rolls-Royce North America and Duke Energy are traveling to Europe next week on a job- and investment-attraction mission.

The Indiana Economic Development Corp. is leading the delegation, which will visit Germany, Italy and the United Kingdom from April 17 to May 1.

Their first stop will be the four-day Hannover Messe Trade Show, a global exhibition focused on renewable and conventional power generation, transmission and distribution. After that, the group will move on to Italy for several days of business meetings.

The trip will conclude in England, where meetings will concentrate on the defense, aerospace, biotech and electric vehicle industries. Retired Rolls-Royce North America executive S. Michael Hudson will be the keynote speaker at a U.S. and Indiana Aerospace and Defense seminar co-sponsored by the West of England Aerospace Forum, Bristol International and United Kingdom Trade & Investment.

According to IEDC, Germany has $3.5 billion in total capital investments in Indiana, while the United Kingdom has total investments here worth $11.3 billion. This is IEDC’s fourth European trade mission since 2005.

Reached on the road via cell phone Thursday morning, IEDC spokeswoman Blair West couldn’t immediately quantify the number of new jobs or total new business capital investments the IEDC’s previous European trips have yielded for Indiana.

Instead, she pointed to a recent example: Schott North America’s Oct. 20 announcement of plans to add 150 jobs in Vincennes. Schott, which already made glass-ceramic cooktops for home appliances at its Vincennes facility, said it plans to invest $7.2 million there after winning a defense industry contract to fabricate transparent armor. Schott's armored windows were selected for a new line of mine-resistant, ambush-protected all-terrain vehicles designed for the rugged mountains of Afghanistan.

IEDC awarded SCHOTT a package of incentives including up to $2.3 million in performance-based tax credits and up to $50,000 in training grants.

West said the German company's Indiana expansion came as a direct result of Gov. Mitch Daniels' 2007 European trade mission. She said it was one of several deals that can be directly traced to that trip.

Other economic development groups sending representatives on the upcoming mission include Indianapolis Economic Development Inc., Indy Partnership, Northeast Indiana Regional Partnership and the Columbus Indiana Economic Development Board.

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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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