Lt. Governor Becky Skillman signed Memorandums of Understanding with three Chinese businesses. Godeagle, Jiaxing Stone Wheel and Henan Fukang Feather Group all intend to invest in Indiana.
The agreement with Godeagle would establish a cooking oil production and processing facility headquartered in Muncie that may create more than 50 jobs. Jiaxing Stone Wheel plans to enter into a joint venture with Chinese-owned Sutong in Elkhart that could lead to 150 jobs for a wheel and brake drums manufacturing facility. Henan wants to expand its feather collecting and processing facilities in Huntingburg, creating up to 40 jobs.
“The agreements signed today open the door for more opportunity for our state and Hoosiers,” Lt. Governor Skillman said. “Indiana’s business friendly environment is leading to additional job growth and investment from the relationships we have built in China.”
Lt. Governor Skillman also hosted the Indiana Economic and Trade Exchange Summit, connecting members of the Hoosier delegation with nearly 40 Chinese companies interested in investing in Indiana. Chinese-owned companies made 332 job commitments in Indiana from 2008-2011, investing $130.75 million.
The Lt. Governor will continue meeting with prospective importers of Hoosier goods, Chinese government officials and representatives of Chinese businesses. China is Indiana’s second largest Asian trading partner. From 2000-2010, Indiana’s exports to China grew by 554 percent.
Additional information about the economic development mission to China is available on the Lt. Governor’s website, www.lg.in.gov/china2012.htm. Tax dollars are not being used to fund this trade mission.
Source: Office of Lt. Governor Becky Skillman