(Indianapolis, IN) – Governor Eric Holcomb has announced 15 regions representing all 92 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).
In our area, proposals have been submitted by Accelerate Rural Indiana and SEI READI, Inc.
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 was approved by the Indiana General Assembly in direct response to the significant demand for quality of place investments from communities across the state.
State officials say 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.
Local READI 2.0 funding proposals are as follows:
Accelerate Rural Indiana
Led by the Accelerate Rural Indiana Regional Development Authority
Counties: Decatur, Rush, and Shelby plus the cities of Batesville, Greensburg, Rushville and Shelbyville.
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.
Southeast
Led by SEI READI Inc.
Counties: Dearborn, Ohio, Switzerland, Union, Franklin, and Ripley (excluding the 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.
The Indiana Economic Development Corporation will review and assess the submitted plans before making formal recommendations to the IEDC board of directors on April 11.
Once investment allocations are finalized, the IEDC will begin coordinating with each region to identify regionally significant capital and infrastructure projects for investment.
Regions awarded funding allocations will also have the opportunity to submit projects focused on blight reduction and redevelopment as well as arts and culture initiatives for match funding through the Lilly Endowment Inc.
More information on READI 2.0, including application guidance and evaluation frameworks, as well as links to download the regions’ proposals, is available at IndianaREADI.com.
A map of the identified regions can be found here.
