North Central region announces READI funding projects
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The North Central Indiana Regional Planning Commission is celebrating five economic development projects that have been awarded approximately $9 million collectively from the Indiana Regional Economic Acceleration and Development Initiative (READI). The region, which includes Cass, Clinton, Fulton, Howard, Miami and Tipton counties, was awarded $30 million as part of the state’s $500 million READI program in December 2021.
The projects approved for READI funding range from an Industry 4.0 Training Lab and highway infrastructure to downtown development and fiber access. The Indiana Economic Development Corp. says the projects represent a nearly $100 million regional investment when factoring in matching funds.
“The North Central region has seen tremendous successes over the past eight years, and the READI investment enables us to rapidly advance that success, keep the momentum going and secure a bright future for our families,” said Paul Wyman, NCIRPC Board President. “Our community leaders work together for a larger purpose, and as a result, we are now seeing unprecedented levels of private investment and job creation.”
Projects awarded funding in this round include:
Industry 4.0 Training Lab at Ivy Tech Kokomo – ($1M READI allocation; $2M total project investment)
READI funds will be used to help prepare the region’s workforce for the future of advancing manufacturing with the creation of a training lab for advanced manufacturing.
Riverfront Development in Peru – ($2.75M READI allocation; $22.523M total project investment)
40 acres of idle real estate along the Wabash River in Peru are being redeveloped. The broader project includes the newly constructed YMCA and a 174-unit housing complex. The READI funding will be used for streetscaping.
US-31 & SR-28 Infrastructure in Tipton County – ($3.5M READI allocation; $67M total project investment)
In Tipton County, the region is investing in infrastructure near the recently-developed US-31 & SR-28 interchange to facilitate further commercial and residential development in the area. The city of Tipton, Tipton County and Tipton Municipal Utilities are partnering to extend water and sanitary sewer services with support from READI funds.
Broadband Development in Cass & Howard Counties – (Cass County: $1M READI allocation; $4.455M total project investment// Howard County: $1M READI allocation; $3.952M total project investment)
The North Central region will allocate $2 million of READI funds to increase fiber broadband in Cass and Howard counties.