Purdue partners with 2 Indiana communities to support economic development with China
WEST LAFAYETTE, Ind. - The Greater Lafayette Commerce and Logansport-Cass County Economic Development Foundation are partnering with Purdue University to develop individual strategic plans to expand trade and investment with China as a way to stimulate local economic development.
"These are the first partnerships with Purdue's new Global Business Engagement Initiative," said Mark Van Fleet, director of the initiative, which is part of the university's International Programs office. "We will create strategic plans that can help both communities better attract foreign investment and grow exports, with an initial focus on China. Through research and analysis, we will identify what makes these areas attractive and competitive to possible Chinese investors and which local firms have high-trade potential."
Purdue's plans will be based on research and analyses of business and economic assets in Tippecanoe and Cass counties, including those of possible interest to Chinese companies. The plans will identify which local companies are engaged in international markets and suggest possible strategies to help them expand into new markets, especially China. Purdue also will recommend specific marketing strategies to generate interest among potential Chinese investors and trade partners. A Krannert MBA graduate student who has a background in Chinese culture also will collaborate on the projects.
"The university has a wealth of resources, from its expertise to its global connections, and this is a cost-effective way for our community to expand our economic opportunities," said Joseph Seaman, president and chief executive officer of Greater Lafayette Commerce. "We look forward to this partnership."
The Global Business Engagement Initiative was launched during the Feb. 25 Indiana Mayoral Roundtable on China. State and local government officials, along with community and business leaders attended the conference to learn more about using the university to help develop partnerships with China and bring business to Indiana. The initiative is focusing on China, but there are plans to expand to other countries.
Logansport Mayor Michael Fincher participated in a panel discussion highlighting his 2010 visit to China as part of an Indiana delegation led by the state's economic development foundation and accompanied by Gov. Mitch Daniels.
"I enjoyed sharing my experiences, but I also learned a lot about the role the university can play as a resource to help Cass County engage in more economic development," Fincher said. "We know there are international opportunities out there, and we're following the state of Indiana's lead in seeking such possibilities."
Nolan "Skip" Kuker, president of the Logansport-Cass County Economic Development Foundation, also said that working with Purdue to create a strategic plan only makes sense in today's global economy.
"No matter if we pursue anything, this information will be a great resource for our community, and it also will be a learning opportunity about what role Purdue can play in helping us with local economic development," he said.
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Seaman and Van Fleet will travel next week as part of a delegation that includes the Indiana Economic Development Corporation and Purdue faculty to Shandong Province in Northern China. While there, they will meet with economic development officials, industry executives and university leaders.
Earlier this year, a division of the Nanshan Group, which is based in Shandong province, announced it is building and equipping a $100 million, 435,000-square-foot aluminum extrusion manufacturing facility and office in Lafayette. The president of Nanshan America is a Purdue alumnus.
Local officials, economic development officers and business executives who are interested in more information about resources and services of Purdue's Global Business Engagement Initiative can contact Van Fleet at 765-494-0614, mvanfleet@purdue.edu.
In addition to helping communities with their strategic plans and providing consulting services, Purdue's Global Business Engagement Initiative also provides cross-cultural resources and connections to foreign trade and investment partners, said Michael A. Brzezinski, dean of international programs.
"Our goal is for Purdue to serve as a bridge to global business advantages for the state's government and business leaders who want to leverage global opportunities for economic development," Brzezinski said. "Purdue offers a variety of strengths, including our rich global history of international students, alumni and faculty and strong connections with foreign universities. These assets, paired with contributions from several colleges and offices of the university, including the Purdue Research Foundation, Purdue Alumni Association and the Krannert School of Management, allow the university to provide an invaluable and cost-effective resource for the state."
Writer: Amy Patterson Neubert, 765-494-9723, apatterson@purdue.edu
Sources: Mark Van Fleet, 765-494-0614, mvanfleet@purdue.edu
Nolen "Skip" Kuker, 574-722-5988, skip@ledf.com
Michael Fincher, 574-753-2551, mayor@cityoflogansport.org
Joseph Seaman, 765-742-4044, jseaman@greaterlafayettecommerce.com
Michael A. Brzezinski, 765-494-9399, mbrzezinski@purdue.edu
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