Local officials recently signed a nonbinding agreement with a Chinese company interested in bringing a possible agricultural business venture to Marion.
The Grant County Economic Growth Council on Tuesday issued a news release about the late November visit from China Tiancheng Group of Companies.
“It’s another step in the long process (of) attracting foreign direct investment,” said Tim Eckerle, executive director.
Mayor Wayne Seybold and Growth Council consultant Linda Dawson met with company representatives during an unannounced trip to China earlier that month.
Marion is one of a small number of Indiana cities that have attracted Chinese-owned companies. According to Jennifer Lewellen, executive director of the America China Society of Indiana, seven mainland Chinese companies have located in Indiana.
However, at least one of these — YK Furniture in Marion — has fallen on hard times in the Hoosier state. The company failed to reach its goal of creating a furniture retail store and distribution center in the former Hobby Lobby building, 1500 S. Western Ave., and has been in a holding pattern as Tree of Life Bookstores, LLC, advances its own plans in the building.
During the recent company visit, Seybold and Growth Council President Scott Murphy signed a nonbinding letter of intent with the company declaring its goal of exploring additional business opportunities in Marion.
Lewellen said this was common practice for Chinese businesses, but noted it is more “fluid” than Americans are used to.
“(Memoranda of understanding) don’t necessarily mean anything, neither do contracts,” she said. “For the Chinese those mean we agree to investigate working together.”
City Development Director Darren Reese said the company was interested in a “Made in USA” business that would produce both livestock and crops.
“At this point, they’re looking at significant export of U.S.-grown livestock and crops,” he said.
Growth Council Marketing and Communications Director Courtney Smear said the representatives visited k bistro, Indiana Wesleyan University, Taylor University and sat in on a Chinese language class in Marion High School.
“They want to know that Marion is making efforts to be culturally diverse,” she said.
Lewellen said Chinese businesses put a high premium on establishing relationships with potential business partners. She said results from overseas trips undertaken by local officials like Seybold may have longer business timelines than Americans expect.
“You just have to nurture relationships until you see money on the table,” she said. “The group up (in Grant County) has been longer at it than others.”