INDIANAPOLIS – Governor Eric J. Holcomb has announced that 15 regions representing all 92 Hoosier counties submitted proposals for quality of life and quality of place funding through the expansion of the Indiana Regional Economic Acceleration and Development Initiative (READI 2.0).
READI 2.0 is allocating a second round of $500 million to accelerate community development investments statewide, and it will be invested alongside $250 million in grant funding awarded by the Lilly Endowment Inc.
This funding is expected to attract a minimum 4:1 match of local public and private funding, yielding at least $3 billion invested to increase the vibrancy and prosperity of Hoosier communities.
“Indiana is leading the nation in quality of life and quality of place investment initiatives,” said Gov. Holcomb. “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, which was part of the governor’s 2023 Next Level Agenda and approved by the Indiana General Assembly, was a direct response to the significant demand for quality of place investments from communities across the state. READI 2.0 will build on the momentum of READI 1.0, which has awarded $487 million to 353 unique projects and programs across the state, yielding $12.6 billion invested (26:1 investment leverage ratio) in quality of life, quality of place and quality of opportunity initiatives.
The READI 2.0 funding proposals, some of which are listed below, outline each region’s overall vision for its future; an assessment of the current economic and community landscape; growth strategies and action plans to improve its quality of life, quality of place and quality of opportunity; and its successes and learnings from READI 1.0.
Each proposal will be evaluated on a variety of factors, including 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.
Accelerate Rural Indiana
Led by the Accelerate Rural Indiana Regional Development Authority
Counties: Decatur, Rush, Shelby and the city of 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.
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.
South Central
Led by the Southern Indiana Housing and Community Development Corporation
Counties: Bartholomew, Jackson, Jennings and the town of 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.
For more information about the IEDC, visit iedc.in.gov.
