HENDERSON, Ky. (WEHT) – Officials say the Evansville region will receive $45 million in Regional Economic Acceleration and Development Initiative (READI) 2.0 funds – part of a statewide, $500 million initiative aimed at boosting economic development. Officials say “the Evansville region” includes Vanderburgh, Warrick, Gibson and Posey counties.
“We are excited today to learn that Evansville and the surrounding region will receive $45 million to invest into building our communities,” said Evansville Mayor Stephanie Terry, who was accompanied by members of the Evansville Regional Economic Partnership (E-REP) and of the Southwest Indiana Regional Development Authority at the announcement. “These funds offer us the opportunity to dream big and fund transformative projects that will help Evansville grow and, when coupled with the public, private, and philanthropic matches that will accompany it, will allow us to make significant improvements to our quality of place, and to the quality of life and quality of opportunity for residents.”
Officials say those interested in applying for these regional READI 2.0 funds can find the interest form here. That form will remain open until May 3, and it is open to economic development projects that are “considered a capital or infrastructure improvement.” E-REP says unlike READI 1.0, state criteria do not allow programmatic projects to be considered for funding.
E-REP notes all projects submitting for funding should have a goal of using READI 2.0 funds for 20% of their project, with a 20% public match and a 60% match from private funds.
