Governor Mike Parson will depart for Australia Thursday for a second international Trade Mission. Australia is Missouri’s ninth largest international market with over $308 million in exports in 2018.
The Governor will make several stops in Melbourne and Sydney to engage with infrastructure leaders, meet with worldwide business executives, and promote Missouri as an ideal location for business.
Building on Governor Parson’s infrastructure and workforce development priorities, one of the primary goals of the Trade Mission is to examine the feasibility of using an infrastructure asset recycling program in Missouri to raise revenue and strengthen the state’s infrastructure.
“Since day one, we’ve been focused on building Missouri’s future by improving infrastructure and workforce development,” Governor Parson said. “One of the ways we can do this is by looking at practices that are being successfully implemented in places like Australia, a leader in the infrastructure asset recycling industry, and bringing those best practices back to Missouri.”
In 2014, the Australian government launched an infrastructure asset recycling model in which state governments are incentivized to leverage public assets in sale and lease transactions.
Governments in Australia are currently being incentivized to sell off or lease public infrastructure assets such as ports, wharves, electric grid segments, and housing developments. Revenue raised through those transactions is then reinvested into infrastructure projects.
In addition to learning about different infrastructure strategies and best practices, Governor Parson will meet with several worldwide business leaders and Australian CEOs to highlight Missouri’s strong economy and business climate.
Governor Parson will participate in two roundtable discussions with international business leaders to discuss investment and workforce development opportunities in Missouri.
Governor Parson will also participate in a panel discussion with agriculture industry officials to discuss ag-tech trends and investments in the U.S. and the important role Missouri plays in the U.S. economy.
Governor Parson will meet with company executives with existing relationships in Missouri to thank them for their investment in the state and companies without a presence in Missouri to encourage them to consider Missouri for future investment plans.
Meetings scheduled include the Macquarie Group, Boeing Defense Australia, Western City and Aerotropolis Authority, and Infrastructure Australia.
Additionally, Governor Parson will visit with several dignitaries to learn about infrastructure asset recycling, including the Deputy Secretary of Infrastructure and Structured Finance with the New South Wales Treasury, the Premier and Deputy Premier of New South Wales, and the U.S. Consul General.
Governor Parson will also participate in a roundtable with CEOs and directors to highlight how the administration’s objectives are being achieved through a strong focus on workforce development and infrastructure.
The Trade Mission is funded by the Hawthorn Foundation, a Missouri non-profit organization.
For updates on the trip, follow @GovMikeParson on Facebook and @GovParsonMO on Twitter.