IEDC to Target Semiconductor Innovation and Launch New Taiwan Office

Indiana will showcase its bold, future-focused strategy at SEMICON Taiwan and announce a new office in Taipei to further develop relationships and two-way trade opportunities

INDIANAPOLIS, Sept. 03, 2024 (GLOBE NEWSWIRE) - Indiana Secretary of Commerce David Rosenberg will lead an economic delegation to Taiwan this week to showcase Indiana's future-focused economy and cultivate partnership opportunities to advance semiconductor R&D, production and applications in advanced manufacturing, technology and AI. This trip also kickstarts the opening of a new Indiana Economic Development Corporation (IEDC) office in Taipei.   

"Indiana's reputation as a globally engaged, future-focused economy continues to grow, and we can't wait to share our bold vision with industry and government leaders in Taiwan this week,” said Sec. Rosenberg. “The state's strategy to cultivate a robust semiconductor ecosystem is already paying dividends for our economy and, more importantly, for Hoosiers. Partnering with economies like Taiwan that boast high-tech, high-growth economies will provide even more opportunities for innovation and industry advancement. This week's economic development trip to Taiwan and our new IEDC office in Taipei will further solidify new opportunities to grow these sectors and attract robust supply chains in Indiana.”

Sec. Rosenberg and the Indiana Economic Development Corporation (IEDC) will showcase the state's growing semiconductor industry at SEMICON Taiwan, a premier microelectronics event, hosted Sep. 4-6. The event, which is hosted by SEMI – the global industry association bringing SEMIEXPO In The Heartland to Indiana in 2025, is expecting record participation with more than 1,100 exhibitors across 3,700 booths. This year's conference showcases how members of the global semiconductor community collaborate to drive the unstoppable wave of AI and features critical themes focus on green manufacturing, heterogeneous integration, materials, testing, smart mobility and workforce development.  

The IEDC's Taiwan office, which officially launched Aug. 1, builds on recent economic momentum between Indiana and Taiwan following Gov. Holcomb's trip to Taiwan in 2022 and the signing of a memorandum of understanding between the two regions that calls for cooperation in academics, economic development and investment and supply chain resiliency. Taiwan represents a unique opportunity for Indiana as its industry is inline with the state's focus on advancing innovation and building a future-focused economy.  

The new Taipei office will focus on strengthening opportunities for investments in high-tech, high-growth sectors, with an emphasis on semiconductors, AI, agtech and agbioscience. IEDC has appointed Stewart Randall as its Taiwan Advisor, and he will be assisting with the appointment of an IEDC Taiwan Director in the coming weeks. Stewart has worked in international business development since 2012 and has extensive knowledge of Asia's semiconductor industry. 

Under the leadership of Governor Eric J. Holcomb, Indiana has achieved significant growth of its semiconductor industry. In 2022, the state launched the AMPD Task Force focused on creating a competitive environment and helping semiconductor companies start and locate in Indiana. Since then, the state has attracted seven new semiconductor companies, secured a federal tech hub designation for microelectronics, and broken ground on a new, 10-acre public-private microelectronics hub, WestGate One, near the Naval Surface Warfare Center – Crane Division.  

While in Taiwan, Sec. Rosenberg and the delegation, which includes representatives of the IEDC and the Applied Research Institute (ARI), will meet with semiconductor industry leaders. The delegation will visit the headquarters of MediaTek, which announced in 2022 that it is partnering with Purdue University to create a new semiconductor design center in Indiana; meet the Taipei Computer Association; and AmCham Taiwan and the Taiwan Electrical and Electronic Manufacturers' Association. The Secretary will also visit National Taiwan University and the Taiwan External Trade Development Council. 

This trip builds off of Governor Holcomb's trip to Taiwan in August 2022, and Indiana's continued momentum in the semiconductor space. Indiana is home to 10 Taiwan-based business establishments, including microelectronics firm MediaTek, and boasted more than $1.61 billion in trade between the two regions in 2023, with top import and export categories including computer and electronic products, chemicals, electrical equipment and components and machinery and transportation equipment.  

About IEDC The Indiana Economic Development Corporation (IEDC) is charged with growing the State economy, driving economic development, and helping businesses launch, grow and locate in the state. Governed by a 14-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit iedc.in.gov. 

Contact:
Nathan Brown
Indiana Economic Development Corporation
317-586-1096
nabrown1@iedc.in.gov