Holcomb using final days in office to strengthen partnerships with international companies

Gov. Eric Holcomb visits the Gardens by the Bay in Singapore, an example of urban green space innovation. (Photo from governor's X account)

Speaking to reporters over Zoom from Singapore — a stop on his latest international economic development trip — Gov. Eric Holcomb said the upcoming elections in the U.S. are at the top of international business leaders’ minds. 

“There is drama abroad just as much as at home,” he said. “There are folks who binge watch our political theater as if it’s a reality show and can’t get enough of it and hang on every minute.” 

However, Holcomb said he tries to emphasize that Indiana offers certainty, predictability and stability for companies looking to establish business in the U.S. 

“It’s our first date for a lack of a better description,” he asserted. “We’re turning on our Hoosier hospitality neon sign that says ‘if you want to grow, we want to grow with you and we can go further and farther together.’” 

Holcomb is trying to maximize his remaining days in office by creating new economic partnerships with companies across the world, which he believes will benefit Hoosiers long after he hands off the torch to the next gubernatorial elect. 

“It’s pedal to the metal. Indiana cannot afford to downshift, down my stretch or in the 169 days when I hand the keys for someone else to drive forward,” Holcomb said. 

He, along with First Lady Janet Holcomb and Indiana Secretary of Commerce David Rosenberg, embarked on the trip on July 20. They plan to return on Tuesday July 30. The trip has focused on advanced manufacturing, defense and energy.

Since taking office in January 2017 Holcomb has taken 24 international economic development trips. However, this is his first official trip to Australia and Singapore. Most of the governor’s visits — including his ongoing trip — are paid for using private donations to the Indiana Economic Development Corporation.

The governor said he accepts invitations to visit international business and government leaders out of respect, and that there is “no substitute for showing up.” He also said visiting international locations for companies already headquartered in Indiana — such as visiting Penske Australia and Eli Lilly’s Australia and Singapore locations — helps further strengthen relations. 

So how does he know if these trips are working? 

“A lot of people talk — Indiana walks and we back it up and then we go back home and we start working the deal and getting more details to surround it,” he said. “And then hopefully, ultimately, we’re standing side by side in the state of Indiana and celebrating cutting a ribbon or doing a groundbreaking.” 

About 1,050 foreign-owned businesses have locations in Indiana, according to the Indiana Economic Development Corporation. Holcomb said that developing ties with international companies can further support small businesses in the state. 

“A lot of times the big businesses get the headlines, but it’s the small businesses that are the suppliers, that are the talent, that are scaling up,” he said. “That’s why it’s been so important to us to, in recent years, devote so much time and energy and activity toward venture capital and increasing access to venture capital, so small businesses can scale up in Indiana and actually stay in Indiana.” 

Additionally, the impact of these partnerships, he predicts, will likely be seen decades in the future.

“The payoff will be that families have high wage careers, where they can live, work and play and enjoy our great state,” Holcomb said. 

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