Shelby, Hancock counties in regions vying for READI 2.0 funding

shelby-hancock-counties-in-regions-vying-for-readi-2-0-funding

Governor Eric J. Holcomb 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).

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, 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

Central Indiana 
Led by the Central Indiana Regional Development Authority  

The IEDC 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. 

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