Regions submit proposals for READI 2.0
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Gov. Eric Holcomb on Tuesday announced 15 regions representing all 92 Indiana counties have submitted proposals for the second round of the Regional Economic Acceleration and Development Initiative, or READI 2.0.
The Indiana Economic Development Corp. says the $500 million program is expected to generate at least $3 billion in local public and private investment for quality of life, economic development and workforce development projects.
The funding will be allocated alongside $250 million awarded by Indianapolis-based Lilly Endowment Inc., which will focus on arts and culture, as well as addressing blighted properties.
“Indiana is leading the nation in quality of life and quality of place investment initiatives,” Holcomb said in a news release. “Through the state’s READI program, we’re collaboratively investing billions to grow Indiana’s population, cultivate vibrant and sustainable communities, and better the lives of all Hoosiers today and tomorrow.”
READI 2.0 was approved by the Indiana General Assembly in 2023. It comes on the heels of the inaugural initiative, which to date has awarded $487 million to 353 projects and programs.
The IEDC says READI 1.0 has yielded $12.6 billion in additional investment since the grants were awarded in December 2021.
This year, the number of regions has been consolidated from 17 to 15, though all counties are still represented. The proposals submitted outline an overall vision for the future of each region, as well as an assessment of current economic and community conditions, and plans to improve quality of place and quality of opportunity.
The IEDC said each proposal will be evaluated on a number of factors: economic development potential, the level of focus on rural communities, the degree of regional collaboration, and alignment with the state’s economic development priorities, such as population growth, per capita income growth, growth in employment opportunities, educational attainment, housing units developed, childcare capacity and innovation activities.
The IEDC will make formal recommendations for funding to the IEDC board of directors on April 11. Once funding has been allocated, the agency plans to coordinate with each region to identify projects for investment.
Details on each region and their plans for READI 2.0 funding are below:
Accelerate Rural Indiana
Led by the Accelerate Rural Indiana Regional Development Authority
- Counties: Decatur, Rush, Shelby + City: Batesville
- Proposal Themes: Reimagine the rural region’s ability to attract and retain talent by expanding and improving housing options, making place-based asset improvements, increasing regional education opportunities, upgrading and expanding infrastructure, and telling the region’s story.
Central Indiana
Led by the Central Indiana Regional Development Authority
- Counties: Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan, Putnam
- Proposal Themes: Promote the development of walkable and connected living, innovation and recreational districts that serve as magnets for talent attraction and innovation and provide links to arts, culture and recreation.
East Central
Led by the East Central Indiana Regional Partnership
- Counties: Blackford, Delaware, Fayette, Grant, Henry, Jay, Randolph, Wayne
- Proposal Themes: Accelerate economic growth and regional prosperity by stabilizing the regional population through investments in quality of life, housing and infrastructure, childcare and support for families, and education and opportunity.
Greater Lafayette
Led by the Greater Lafayette Commerce Community and Economic Development Foundation
- Counties: Benton, Carroll, Fountain, Montgomery, Tippecanoe, Warren, White
- Proposal Themes: Grow regional population in both rural and urban areas by focused investment at Purdue University to support the growing semiconductor Industry in Indiana, and supporting a concentrated effort to retain and development talent and attracting new workers to the region through investments in housing, quality of place and community vibrancy, the development of parks and trails, and investments in arts and culture.
Indiana First
Led by the Southwest Indiana Development Council
- Counties: Harrison, Knox, Perry, Pike, Spencer
- Proposal Themes: Remove barriers to and encourage development by investing in infrastructure and increasing the availability of shovel-ready sites; future-proof regional workforce and create opportunities for upskilling; diversify region’s economy and foster innovation, entrepreneurship, and business attraction and retention; increase housing options; and provide amenities and services that support population growth and diversification.
Indiana Uplands
Led by the Regional Opportunity Initiatives Inc.
- Counties: Brown, Crawford, Daviess, Dubois, Greene, Lawrence, Martin, Monroe, Orange, Owen
- Proposal Themes: Grow the region’s capacity as a national innovation hub by leveraged advanced technologies in key employment sectors (advanced manufacturing, life sciences, and national security and defense) by focusing on critical housing, infrastructure and place-based assets; developing and attracting in-demand talent; and enhancing the region’s unique cultural, artistic, physical and livable amenities.
North Central
Led by the North Central Indiana Regional Planning Council
- Counties: Cass, Clinton, Fulton, Howard, Miami, Tipton
- Proposal Themes: Maximize and build on recent regional momentum to ensure long-term dynamic growth. Accelerate leadership in innovation investment and advanced manufacturing and technological innovation by growing a skilled workforce; enriching the region with quality-of-life assets, such as housing and childcare; and supporting entrepreneurship and small business.
Northeast
Led by the Northeast Indiana RDA
- Counties: Adams, Allen, DeKalb, Huntington, LaGrange, Kosciusko, Noble, Steuben, Wabash, Wells, Whitley
- Proposal Themes: Accelerate the region’s trajectory as an innovative, vibrant and winning region by growing hardtech and medtech industry leadership, fostering creative sector innovation, and supporting population growth through infrastructure, housing, childcare, education innovation, community connectivity and cultural vibrancy.
Northwest
Led by the Northwest Indiana Forum
- Counties: Lake, Porter, LaPorte, Jasper, Newton, Pulaski, Starke
- Proposal Themes: Create a dynamic economic environment fueled by innovation, diversity and talent by investing in the advanced energy sector, expanding investment-ready assets, developing opportunity campuses to support communities, enhance destination development and amplify regional innovation and creative cultures.
Our Southern Indiana
Led by the Our Southern Indiana Regional Development Authority
- Counties: Clark, Floyd, Jefferson, Scott, Washington
- Proposal Themes: Catalyze regional growth, with an emphasis on impacting rural and disadvantaged communities; increase housing availability; leverage business and innovation parks to expand employment opportunities; partner with regional universities to grow educational attainment and innovation activity; and ensure quality of life amenities like childcare access and affordability.
South Bend-Elkhart
Led by the Northern Indiana Regional Development Authority
- Counties: Elkhart, Marshall, St. Joseph
- Proposal Themes: Propel the region into the future with strong investments to attract and retain talent, equip tomorrow’s talent, drive innovation and entrepreneurship, accelerate industry diversification, and enhance infrastructure.
South Central
Led by the Southern Indiana Housing and Community Development Corporation
- Counties: Bartholomew, Jackson, Jennings + Town: Edinburgh
- Proposal Themes: Inspire and cultivate collaboration among companies and communities to build powerful technologies, prosperous communities and a resilient future by focusing on innovation and entrepreneurship, education and workforce development, housing and quality of place.
Southeast
Led by SEI READI Inc.
- Counties: Dearborn, Ohio, Switzerland, Union, Franklin, Ripley (excludes city of Batesville)
- Proposal Themes: Leverage the region’s natural resources and unique qualities to grow economic vitality, population and generational prosperity through strategic investments in housing, cultural amenities, infrastructure, targeted industries, and childcare systems.
Southwest
Led by Southwest Indiana RDA (SWIRDA)
- Counties: Gibson, Posey, Vanderburgh, Warrick
- Proposal Theme: Foster population growth and upward mobility by connecting 50 miles of riverfront with inspiring public amenities, attractions and housing; grow high-paying jobs; improve quality of place for healthier residents; build housing near employment clusters; and capitalize on the I-69 Ohio River Crossing to create new regional opportunities.
Wabash River
Led by the Wabash River RDA
- Counties: Clay, Parke, Sullivan, Vermillion, Vigo
- Proposal Themes: Prioritize regional increases in population growth and retention, per capita income and educational attainment rates by investing in early childhood education; innovation, education and workforce training; housing availability; and destination and recreational development.