The Corporation of the City of Markham and Indy Economic Development Inc. Sign Economic Development Partnership

Agreement connects two globally-minded communities with shared strengths in advanced industries, innovation and technology 

MARKHAM, ON and INDIANAPOLIS, IN — August 21, 2026 — The Corporation of the City of Markham and Indy Economic Development Inc. (IEDI) this week signed a memorandum of understanding (MOU) in Markham, establishing a formal partnership in pursuit of deeper collaboration between two globally-connected communities with shared strengths in advanced industries, innovation and technology.

“Great partnerships start with shared ambition, and Markham and Indianapolis both compete far beyond their borders in delivering a best-in-class place to do business,” said Andrea Richter-Garry, President and CEO of IEDI. “This formalizes a relationship built on aligned strengths — advanced industries, innovation and a global outlook while creating a framework for collaboration that produces real return on investment in the form of new business opportunities, job creation and economic growth for both communities.”

“This announcement reinforces Indianapolis and Markham’s shared drive to compete and succeed on a global stage,” said Vinay Sharda, Director, Economic Growth, Culture and Entrepreneurship at the City of Markham. “We look forward to working together and building on our mutual dedication to innovation and economic competitiveness. This partnership will enable both of our communities to strengthen business and economic ties, cultivate strategic partnerships, and advance opportunities that generate investment, foster innovation, and support economic success.” 

Richter-Garry signed the agreement on behalf of IEDI, and was joined by Sharda, who signed on behalf of The Corporation of the City of Markham. 

The relationship took shape earlier this year when IEDI hosted City of Markham officials for the Indianapolis 500. Markham’s successful hosting of the inaugural Ontario Honda Dealers Indy at Markham race over the weekend also presents the motorsports economy as an area for partnership.

The agreement builds on strong existing ties between Indiana’s capital city and Canada. Indianapolis is home to 22 Canadian companies. 

Markham is the largest municipality in York Region, in the heart of the Greater Toronto Area. It enjoys a rich heritage, award winning cultural venues, and a vibrant local economy. Markham is home to approximately 9,900 businesses, including more than 650 corporate head offices and more than 1,500 high tech and life science companies, employing 35,000+ highly-skilled workers. Markham is also the largest semiconductor cluster in Canada. 

Through the MOU, the two communities will facilitate business-to-business connections, investment attraction and support for company expansion and market entry in both jurisdictions; collaboration among industry leaders, innovation ecosystems, academic institutions and entrepreneurs; opportunities tied to motorsports and major sporting events; cooperation across strategic sectors including technology, life sciences, advanced manufacturing and emerging industries; and joint trade missions, coordinated delegations and the exchange of best practices in economic development. This will reinforce both communities’ continued focus on business attraction, retention and expansion, international partnerships and strategic development opportunities, supporting their long-term economic competitiveness.

Left to right: Vinay Sharda, Director, Economic Growth, Culture and Entrepreneurship at the City of Markham; and Andrea Richter-Garry, President and CEO of Indy Economic Development Inc. (IEDI).

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All media inquiries / interview requests for the City of Markham:  
media@markham.ca

Indy Economic Development: Hannah Thomas, media@indyecondev.com / 317.518.4080

About the City of Markham: Markham, an award-winning municipality with over 370,000 residents and the largest of nine communities in York Region, is home to over 650 corporate head offices and more than 1,500 high tech and life science companies. Markham is a leader in attracting foreign direct investment with more than 234 foreign companies located in the City. Founded in the 1790s, today Markham is Canada’s most diverse community and enjoys a rich heritage, outstanding community planning and services, and a vibrant local economy.

About Indy Economic Development Inc.: Indy Economic Development Inc. works to advance economic growth, business attraction, retention, expansion and real estate development efforts for the city of Indianapolis. Through strategic partnerships and a focus on long-term competitiveness, IEDI supports investment, job creation and inclusive economic opportunity across Indianapolis. For more information, visit indyecondev.com.

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