Southern Indiana Business Report
FRENCH LICK – The annual Radius Indiana stakeholder luncheon brought together mayors from around the Radius region Feb. 26 to tout the opportunities in their cities during a meeting with the Japan External Trade Organization.
Japan ranks number one in direct foreign investment in the United States, investing a total of $783.3 billion in 2023. Those investments supported nearly 1 million US jobs in 2022. Just in manufacturing alone, Japanese investment supported 529,200 jobs in 2022.
In Indiana, 336 Japanese companies have a presence. That number includes M&C Tech in Washington, which is the only Japanese-owned company in the Radius region. The Hoosier state also has the distinction of being the only state with three Japanese OEMs – Toyota, Honda and Subaru.
JETRO works to foster a positive economic relationship between the US and Japan. Indiana is served by the JETRO Chicago office. Tomofumi Nishizawa, executive director of the Chicago office, said JETRO’s mission is to support Japanese companies to launch their investments and businesses in the US and Midwest. JETRO also works to strengthen relationships between state and local governments and Japanese companies.
Last week, mayors and LEDOs engaged with JETRO about the latest developments in their cities and towns.
Washington Mayor David Rhoads said Japanese-owned M&C Tech has done well since it opened its Washington facility in 2017 and recently acquired land for a possible expansion.
“We’re always looking for new investments,” Rhoads said.
Salem Mayor Justin Green, who visited Japan several years ago, said Salem is in a transition of wanting to grow its existing economy and appreciated the opportunity to meet with JETRO.
Huntingburg Mayor Neil Elkins said his city is focused on improving its infrastructure with an expansion of its water and wastewater facilities that will quadruple capacity. The city is also working with the Huntingburg Airport Authority to increase its hangar capacity and terminal.
“We have a lot of jets that fly in on a daily basis,” he said.
He also touted the local school system, its STEM programs and an educational partnership with Toyota to introduce students to modern manufacturing.
Mike Engleman, Loogootee City Council president, spoke on behalf of Mayor Brian Ader, who was unable to attend.
“We’ve got some things moving in the right direction,” he said. “We’re revitalizing our downtown and have improved accessibility.”
He also mentioned a new housing development and the restoration of downtown buildings as other examples of progress.
“Being a small city, if we can get one major investment to come in, that would really open up opportunities for our city to grow,” he said.
He also noted Loogootee’s proximity to NSA Crane and working with the Martin County Alliance to move the city forward.
Shance Sizemore, executive director of Lawrence County Economic Development, and Sarah Turpen, Bedford’s community and business development director, spoke about opportunities in Bedford and Lawrence County.
Sizemore said a new 50,000 square feet shell building, which can be built out to 200,000 square feet, will be completed this summer in Mitchell. The building is a joint venture between the City of Mitchell and the Lawrence County Redevelopment Commission.
The county also has three large employers that are suppliers of components used by Honda, Toyota and Subaru.
“Since 2018, Lawrence County has seen $2.3 billion in investment announcements,” he said.
Turpen said the city of Bedford is investing $22 million to improve its wastewater treatment system and the city is making plans to celebrate its bicentennial this year.
Brianne Jerrels, Greene County economic development director, spoke on behalf of Linton Mayor John Preble. She said Linton and Greene County are focused on quality of life issues such as housing and amenities that will retain and attract residents. She said Linton recently added a dog park and is working on improving walkability. Wagler Education and Training Center addresses workforce readiness by offering a variety of job training programs.
Progress in Crawford, Orange counties
Local Economic Development officials in Crawford and Orange counties highlighted their assets and progress.
Jesse Belcher, executive director of Crawford County Economic Development, said a new housing development will see 57 homes built over the next five years near the county’s industrial park via a partnership with the French Lick Resort, which will build the homes. Construction is to begin later this year.
Four businesses have expanded and median household income has increased. The progress has resulted in interest in other home developers.
“The biggest challenge we’ve ever had is that our workforce has traditionally commuted outside the county for jobs,” he said. “If we had a company locate in our industrial park and pay a competitive wage, we have people who would be happy to stay and work in Crawford County rather than go 30 miles away for work.”
Belcher also said the tourism opportunities at Patoka Lake are “booming.” Turning to education, he said local schools are aligning with local workforce needs to minimize brain drain and graduates moving away for jobs.
Kristal Painter, COO of Discover Southern Indiana, spoke on behalf of Orange County Economic Development about efforts to increase housing and infrastructure. French Lick Resort is adding workforce housing stock in French Lick, the first new housing subdivision there in 60 years. OCEDP has also focused on workforce development by offering training programs.
Stakeholder luncheon
Radius Indiana hosted its annual stakeholder meeting at the French Lick Resort with more than 100 in attendance. Radius Indiana CEO and President Jeff Quyle reviewed the 2024 activities of Radius Indiana. Keynote speaker was Seema Sheth, senior vice president and regional executive of the Louisville Branch of the Federal Reserve Bank of St. Louis.