(Southeastern IN) – Four additional projects in Southeastern Indiana are being made possible by investment from the state’s Regional Economic Acceleration and Development Initiative (READI), led by the Indiana Economic Development Corporation (IEDC).
SEI READI, Inc. received a $15 million READI allocation from Governor Eric Holcomb and the IEDC in 2021.
Fifteen projects totaling more than $13.2 million were previously announced by SEI READI in May.
The projects recently approved for a total of $838,000 in READI investment include:
• Sunman Sewer Extension, $500,000. READI will enable the Town of Sunman wastewater utility to serve development at the intersection of Indiana Highways 101 and 46, just a half-mile from Interstate 74, recognizing the region’s growth opportunity along the interstate highway.
• Switzerland County TEC Center Entrepreneur Zone, $100,000. READI investment will help adapt the facility and enable programming to permanently accommodate and support entrepreneurs and remote workers. The TEC Center was recently selected by Purdue University as a location for their Indiana Next Generation Manufacturing Competitiveness Center (IN-MaC) Design and Innovation Studio. The initiative will allow young learners and adults to access new technology in their own community.
• Union County Historic Waterworks Building, $38,000. READI funds will match local funding to renovate this historical building in the Town of Liberty which will serve as a visitor center, seasonal farmers market, and venue for crafters and artisans.
• Union County Water & Sewer Extension, $200,000. These utility extensions are made possible by READI will enable the development of 35 new homes on U.S. 27 near the Town of Liberty.
The four projects bring SEI READI’s total to 19 projects across Dearborn, Franklin, Ripley, Ohio, Switzerland, and Union counties receiving investment. The 19 projects leverage a total of $398 million in local public and private investments for the region – a 27-to-1 ratio for each READI dollar invested. The full portfolio of Southeast Indiana READI investments will help grow Indiana’s population by creating the potential for more than 700 new housing units.
“SEI READI, Inc. worked with elected leaders across the region and the IEDC to identify the projects meeting the READI program’s goals of quality of life, place, and opportunity to make Indiana a magnet for talent and families. Our organization thanks Governor Eric Holcomb, Secretary of Commerce Bradley Chamber, and all of our region’s project stakeholders for being partners in helping Southeast Indiana grow and prosper,” said SEI READI Board of Directors President Bill Schirmer.
SEI READI’s previously announced Southeast Indiana projects include:
• Aurora State Road 148 Housing Infrastructure, Dearborn County, $215,000
• Brookville Sewer Extension for Franklin County Housing, Franklin County, $4,464,107
• Golden Road Infrastructure Gas Line Project, Franklin County, $250,000
• Lawrenceburg Liberty Theater Renovation, Dearborn County, $600,000
• Lil’ Patriots Preschool, Union County, $140,000
• Milan Street Lights, Ripley County, $100,000
• North Dearborn Water Authority Expansion, Dearborn and Franklin counties, $3,070,000
• Ohio County Pavilion and Pop-Up Project, Ohio County, $50,000
• SEI Broadband Clearinghouse, regional, $102,978
• South Dearborn Regional Sewer District Wastewater Treatment Plant Modernization, Dearborn County, $2,486,633
• State Road 1 Corridor Economic Development Plan, Dearborn and Franklin counties, $87,400
• Switzerland County Workforce Housing, Switzerland County, $1,263,754
• Switzer Square Housing, Switzerland County, $206,128
• United Way of Southeast Indiana Early Education Access, regional, $140,000
• Versailles Pocket Park, Ripley County, $86,000
SEI READI, Inc. has allocated $900,000 of the award for state and local READI grant administration and legal services required to participate in the READI program.
Indiana launched the Regional Economic Acceleration and Development Initiative (READI), a bold, transformational initiative that dedicates $500 million in state appropriations to promote strategic investments, to make Indiana a magnet for talent and economic growth.
In April of this year, the legislature approved an additional $500 million for a second round of READI. The full, statewide READI program is expected to result in a projected $16 billion in total investment including local public, private, and philanthropic match funding, which will propel investment in Indiana’s quality of place, quality of life, and quality of opportunity.
A second round of the IEDC READI program has been announced by Gov. Holcomb and the Indiana Economic Development Corporation. SEI READI, Inc. and economic development organizations expect to again compete for funding in 2023 and 2024.
More information about SEI READI and updates can be found at www.southeastndiana.org.
(SEI READI press release)
