Ports of Indiana and the Indiana State Department of Agriculture (ISDA) have signed a Memorandum of Understanding (MOU) to increase collaboration, expand agricultural trade, and create new container shipping opportunities for Indiana.
The primary purpose of the MOU is to establish a framework for enhanced collaboration, with the aim of promoting increased agricultural trade and fostering economic development for Indiana.
The MOU outlines an agreement for the organizations to partner in the following ways:
- Encourage and support the expansion of agricultural exports through the state’s port facilities
- Investigate opportunities to develop new container shipping facilities that would serve critical needs in the agriculture and hardwood industries
- Connect key agricultural stakeholders with Indiana’s ports to explore new shipping opportunities and convene critical stakeholder forums
- Research container export opportunities related to ISDA’s key priorities
“ISDA has helped position Indiana agriculture as a global leader in innovation and commercialization for food and fuel production, and our ports play a critical role in connecting our ag industry with world markets,” Ports of Indiana CEO Jody Peacock said. “Our organizations and our industries are inextricably linked, and we have several shared objectives and opportunities for collaboration that can create future growth for our state and our agricultural communities.”
Earlier this year, the two organizations partnered with the Indiana Soybean Alliance and Indiana Corn Marketing Council to conduct a trade mission to Indonesia and to host the first-ever Indiana Container Shipping Conference. Governor Eric Holcomb kicked off the conference as business, agriculture and transportation leaders discussed ways to develop new container ports, grow agriculture exports and expand global trade to support Indiana’s economic growth. In July, Ports of Indiana received federal approval to establish Indiana’s first international sea cargo container terminal on Lake Michigan and signed an MOU with the Port of Antwerp-Bruges to explore new agriculture and container shipping opportunities.
Agriculture contributes more than $35 billion annually to the Hoosier economy, making Indiana the ninth largest agriculture state. Indiana ranks 13th in the nation for waterborne shipping, generating $29.9 billion in annual economic impact. Ports of Indiana handles more than four million tons of agriculture products at its three ports on the Ohio River and Lake Michigan, and those cargoes make up more than a third of the total shipments.
Click here to view the MOU.