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Indiana offers support to U.K.-based companies amid Brexit concerns

July 6, 2016

Indiana commerce officials are showing support for companies based in the United Kingdom as they face financial and political uncertainty after Brexit—the country’s vote to leave the European Union.

The state plans for an Indiana delegation to show an advertisement to those attending the 2016 International Farnborough Air Show, which is held each year in Hampshire, England. The ad will read, “Brexit or not, you’ll always be front of queue for business in Indiana.”

“International job creators play an important role in Indiana’s economy, with nearly 800 foreign-owned establishments operating here today, including more than 50 U.K.-based business,” said Victor Smith, Indiana Secretary of Commerce in a written statement.

Britain’s vote to leave the European Union affected global markets and caused the British pound to fall to its lowest level in decades. The decision is expected to hurt investment and long-term business commitments to the U.K.

This is the third consecutive year an Indiana delegation will be attending the air show, which this year runs July 15-17. During the last two years, industry leaders have announced plans to invest more than $900 million in their Indiana operations, committing to create more than 1,200 new Hoosier jobs. The state’s aircraft and spacecraft exports have increased at an average annual rate of nearly 30 percent.

Gov. Pence was part of a 22-person trade delegation from Indiana that visited the U.K. in 2014.

“To our U.K-based firms, know that we support you and value the Hoosier jobs you create. To job creators across the globe, we invite you to learn more about the benefits of doing business in a state that works,” Smith said.

The ad is part of the Indiana Economic Development Corp.’s ongoing "A State That Works" campaign, which highlights the reasons why companies should choose Indiana for business.

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Recent Articles by Adrianna Pitrelli, The Statehouse File

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