Agreement On Economic Cooperation And Trade Relations Between The State Of Indiana In The United States Of America And The Province Of Ontario In Canada

This Agreement is entered into between the State of Indiana in the United States of America (hereinafter “Indiana”) and the Province of Ontario in Canada (hereinafter “Ontario”) (collectively the “Parties”). This Agreement supersedes the Indiana-Ontario Memorandum of Understanding dated 27 March 2018.

Whereas, the Parties, in recognition of the substantial state-province economic activity, which includes being one of each other’s largest trading partners and targets for foreign direct investment, have established an enduring and productive relationship based on mutual interests; and

Whereas, the Parties share the objective of deepening their already well-established economic development cooperation and trade relations to strengthen their businesses and create jobs in both Indiana and Ontario; and

Whereas, the Parties traded $18.4 billion USD worth of goods and contributed $125.3 million in USD in foreign direct investments in 2022; and

Whereas, the Parties recognize:

  • the overall importance of economic relationships within North America and between the Parties;
  • the advantages derived from strengthening and broadening sectors of mutally beneficial trade and investment;
  • the signficance of working together to create a skilled and modern workforce to meet the needs of an innovative and digital economy;
  • the value of close cooperation and consultations between the Parties on economic issues to ensure open lines of communication and sharing of best practices;
  • the need for collaboration between Canadian provinces and U.S. states to reduce trade barriers within their purview; and
  • the importance of working together and in concert with their respective federal governments in matters of economic signficance.

Therefore, the Parties, in the spirit of promoting closer relationships, intend to further support and work cooperatively within the boundaries of existing laws and treaties in their respective jurisdictions on issues as set forth below:

Section 1: Areas of Cooperation

In line with the principle of mutual benefit, the Parties share the intent to cooperate with respect to the areas below. These areas of cooperation may feature more specifically in the sectoral areas of coop eration outlined in Section 2 below.

  1. Economic Development and Investment

This area of cooperation promotes business interactions between the Parties, including mutual exchange of appropriate business delegations and market information as well as other cooperative activities in recognition of the importance of two-way investment. This should enhance the mutual trade and investment relationship between the Parties in key areas such as advanced manufacturing, green economy, and energy transition, amongst other areas. The Parties will work to address changing technology and innovations, with cutting-edge provisions to maximize opportunities for Indiana and Ontario, and support trade and growth.

  1. Workforce Development

This area of cooperation supports the sharing of best practices to meet the challenges of creating and training a workforce to meet high-demand, high-wage job growth created by innovation across all sectors. The Parties will work together to identify opportunities for strategic partnerships and alliances between private sector companies and academic institutions, which will strengthen their capabilities to compete in international markets with a trained and ready workforce.

  1. Regulatory Cooperation

Respecting each Party’s existing laws and regulations, this area of cooperation helps to facilitate the sharing of regulatory best practices that recognize the importance of supporting regulatory frameworks that allow for experimentation and adoption of transformative technologies (e.g., autonomous vehicles, artificial intelligence and blockchain), while also being mindful of any consumer protection, confidentiality, safety and privacy concerns that may arise. Cooperation in this area is intended to reduce the regulatory burden on companies and help them to do business more easily in the other jurisdiction’s market.

Section 2: Priority Sectors for Cooperation

In line with the principle of mutual benefit, the Parties intend to prioritize cooperation in the sectors listed below:

  1. Infrastructure

Recognizing that both Parties are vital North American transportation hubs due to their geographically favorable locations, this area of cooperation continues to encourage the Parties to invest in state-of-the-art transportation infrastructure, which creates a more competitive operating environment for private sector companies in both Indiana and Ontario and attracts new investment.

  1. Life Sciences

This area of cooperation works to advance company partnerships, opportunities, economic development missions, symposia, workshops, and other relevant cooperative events; market access, early stage company investment, finance, and support; clinical research/regulatory affairs; and research partnerships.

  1. Advanced Manufacturing and Materials

This area of cooperation promotes collaborative projects, research, and information exchange regarding innovation in advanced manufacturing. Such cooperation aims to spur manufacturing growth by supporting regional and federal initiatives to facilitate border-to-border movement of goods and people and to work to share best practices and world-class expertise found in both jurisdictions.

  1. Automotive, including Electric, Connected and Autonomous Transportation

This area of cooperation fosters information sharing in the development and support of the automotive industry, including automotive innovation, engineering and manufacturing, and battery research and workforce development, especially as they relate to the commercialization, production, and deployment of electric, connected and autonomous transportation.

  1. Aerospace and Aviation

This area of cooperation targets the development, operation and manufacturing of aircraft between the aerospace industries of the Parties, with the aim of enhancing aerospace manufacturing attractiveness, workforce development, foreign direct investment and market access.

  1. Agriculture and Agricultural Technology

This area of cooperation facilitates appropriate cooperation and information sharing in the fields of agriculture and agricultural technology, and to include agbioscience and other agricultural-related sciences, by supporting, as appropriate, a productive long-term relationship utilizing relevant public and private entities to exchange best practices and designate areas of growth within the sector.

  1. Academic Cooperation

This area of cooperation focuses on facilitating the creation of new exchange programs or the enhancement of existing programs to support and encourage appropriate institutional collaboration between academic institutions, as well as research institutions in Indiana and Ontario.

  1. Energy

This area of cooperation centers on developing private and public sector opportunities for collaboration in the energy and energy-infrastructure sectors, with an emphasis on clean power generation and innovative energy storage solutions and technologies. This area will also explore avenues to bolster the supply chain and manufacturing opportunities for the green economy among the Parties.

  1. Information and Communications Technologies

This area of cooperation encompasses the areas of information technology and cybersecurity. Activities contemplated include technology collaboration; cooperative partnership participation and collaboration; and private sector and academic institution collaboration.

  1. Sports Economy

This area of cooperation fosters information sharing, activities and pursuits around major events that focus on sports as a driver for economic development, with the aim of enhancing global connections and strengthening supply chains that support development of the sports economies of the Parties.

Section 3: Forms of Cooperation

Under the framework of this Agreement, forms of cooperation may include the following:

  1. Organizing regular economic development missions and public sector visits;
  2. Undertaking specific projects, including technology and infrastructure demonstration projects;
  3. Sharing appropriate information and best practices regarding policies and programs, as well as policy design and capacity building support;
  4. Promoting cooperative research, development, and deployment projects in fields such as the life sciences and other technology between research institutes and universities;
  5. Jointly organizing symposia, seminars, workshops, exhibitions, and training;
  6. Participating in other commitments and/or initiatives, including multilateral consortiums;
  7. Facilitating discussions regarding cooperation and sharing of regulatory best practices;
  8. Promoting participation and support from municipalities, regions, research institutes, universities, and non-governmental organizations, as well as other organizations; and
  9. Any other mutually acceptable forms of cooperation that contribute to the goals of this Agreement.

Section 4: Government Procurement

  1. Ontario affirms its obligations under the Revised World Trade Organization Agreement on Government Procurement (WTO GPA).
  2. Indiana will actively work towards offering Ontario suppliers treatment no less favourable than that afforded to suppliers from a state not bordering Indiana, including state-level preferences.
  3. Indiana and Ontario agree to maintain an open dialogue regarding current and future trade related initiatives and developments.
  4. The Parties agree to prioritize and advance opportunities in their government procurement processes within the Working Group framework (outlined below in Section 5).

Section 5: Implementation & Working Group

  1. The Parties will, on a regular basis, inform and consult with one another on matters of common interest that represent opportunities for mutual benefit and are consistent with this Agreement. Towards that end, within six months from the execution of this Agreement, the Parties agree to form a working group (“Working Group”). The purpose of the Working Group is to facilitate the exchange of mutually beneficial information in an effort to increase foreign direct investment, develop and improve upon existing policies, and strengthen cultural ties between Indiana and Ontario. Additionally, the Working Group will also include a Procurement Cooperation Council (“PCC”) to explore and advance opportunities in their respective government procurement processes to align and advance desirable procurement practices as described above (see Section 4). The Working Group and PCC will be made up of members chosen by each Party from the public and private sectors and shall aim to meet, respectively, at least twice per year (one of which, where possible, in person).
  2. To oversee and implement this Agreement, Indiana designates the Indiana Economic Development Corporation (IEDC) as the coordinating authority for all state agency interactions related to this Agreement, and Ontario designates the Ministry of Economic Development, Job Creation and Trade (MEDJCT) as the coordinating authority for all provincial agency interactions related to this Agreement. The above designates will also be tasked with identifying participants for the Working Group.

Section 6: Performance Metrics

  1. The Parties agree to track the effectiveness of the Agreement over the term of the Agreement against key performance metrics, such as:
    1. Total two-way trade in goods by dollar value between the Parties;
    2. Total dollar value of Ontario-Indiana foreign direct investment; and
    3. Total number of Ontario-Indiana foreign direct investment projects.
  2. The Parties agree that in addition to the greater economic cooperation between the Parties resulting from the Agreement, the key performance metrics noted above may also be influenced by a number of external factors, including (but not limited to) global economic performance, commodity prices, and currency valuations.

Section 7: Final Provisions

  1. This Agreement is not legally binding and does not create any legal, equitable, or financial rights, obligations, or liabilities for the Parties.
  2. This Agreement will remain in effect as of the execution date for as long as each Party continues to find the cooperative activities under the Agreement to be of mutual benefit. Either Party may terminate this Agreement by providing 45 days’ written notice of its withdrawal to the other Party.
  3. This Agreement may be modified through discussion in the Working Group, and all amendments or modifications must be signed in writing by the Parties.


This Agreement is signed on the 23rd day of January in the year 2024 in Toronto, Ontario.

Eric J. Holcomb, Governor, State of Indiana

Doug Ford, Premier, Province of Ontario

Ann Lathrop, Chief Strategy Officer, Indiana Economic Development Corporation

Vic Fedeli, Minister of Economic Development Job Creation and Trade, Province of Ontario