READI funding for southern Indiana projects approved
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The Our Southern Indiana Regional Development Authority on Friday announced two projects approved for funding from the state’s Regional Economic Acceleration and Development Initiative. The projects include a new veterinary teaching center and a bridge gateway illumination project.
The RDA and the Indiana Economic Development Corp. have approved $5.9 million in READI funding for the Hanover Veterinary Teaching Center.
Led by Hanover College in partnership with Ivy Tech Community College – Madison, the planned center will house a Doctor of Veterinary Medicine and veterinary nursing programs the RDA says will establish southern Indiana as “a hub for innovation in veterinary medicine, agribusiness, and bioscience.”
In its development plan, the RDA said the center will help the region address a shortage of veterinary professionals. The VTC is expected to serve 110 students annually and employ 25 people.
“VTC students will meet workforce needs through ongoing clinical and job placements with agribusiness, pet health, and biomedical science providers, as well as supporting regional animal shelters through spay and neuter programs,” the RDA said.
The VTC project has an overall cost of $32 million with nearly two-thirds coming from private funding. The project is slated for completion in January 2024.
The RDA cites an economic study that estimates the VTC could add nearly $5 million in annual output.
Additionally, the Milton-Madison Bridge Gateway & Illumination project has been approved for nearly $1.3 million in READI funding.
The project is part of an overall “Destination Madison” quality of place initiative outlined in the RDA’s development plan. Developers plan to install state-of-the-art color changing LED lights with a controllable WiFi system that the RDA says will bring thousands of tourists to the region.
The city of Madison has also acquired properties at the foot of the bridge, which will be transformed into a small welcome center.
“This project will enhance the gateway into Indiana and the region,” the RDA said.
During its public meeting Friday in Scottsburg, the RDA also approved three additional projects to be submitted for review by the IEDC for potential READI funding.
Our Southern Indiana covers Clark, Floyd, Jefferson, Scott, and Washington counties.
The region was one of five to receive the full $50 million allocation from the READI program last December. A total of $500 million was awarded to 17 regions representing all 92 Indiana counties.