The Washington D.C.-based Brookings Institution has selected Indianapolis to take part in an effort designed to attract and leverage direct foreign investment. The Indy metropolitan area is among six that will develop a Global Trade and Investment Strategy as part of the Global Cities Initiative.
The Indy Chamber says the new initiative will build off its existing Indianapolis Metro Export Plan. Other communities that are part of the joint program of Brookings and JPMorgan Chase are Charleston, Chicago, Louisville-Lexington, Phoenix, and Wichita.
The chamber says Indy's participation follows an extensive application process and it received the nod for its "readiness and commitment to strategically pursue foreign direct investment through such activities as greenfield expansions, mergers and acquisitions, and other types of foreign investment including EB-5, private equity, joint-ventures and sovereign wealth funds."
Indy Chamber Chief Executive Officer Michael Huber says "for the regional economy to thrive, we must grow regional businesses and attract talent on a global scale. We're honored to be among world class peer cities in this cohort and look forward to developing this strategy and broadening the opportunities available for Indy businesses on the global stage."
A team of local leaders will spearhead the central Indiana effort. It includes: co-chairs Al Smith of JPMorgan Chase and Melina Kennedy of Cummins Inc., Gil Latz of IUPUI, Kent Anderson from the Indiana Economic Development Corp., The International Center's Diane Thomas, Marvin Blade of Duke Energy and Huber.
The chamber says foreign direct investment is a staple of regional economies and it infuses capital, invests in workers, strengthening global networks and sharing best business practices.