South Bend, Elkhart, Marshall Region Awarded $45 Million in READI 2.0 Funds

Thursday, April 11, 2024 at 11:30 AM

The Indiana Economic Development Corp. (IEDC) awarded the South Bend – Elkhart region $45 million in Regional Economic Acceleration and Development Initiative – or READI – 2.0 funds. The announcement was made this morning in Indianapolis.

“We are ecstatic that the IEDC recognizes the work being done in the South Bend – Elkhart region and supports this regional development with READI funds this round,” said John DeSalle, Chair of the Northern Indiana Regional Development Authority (RDA). “We will continue to be good stewards in distributing these funds to have the greatest impact on quality of life in Elkhart, Marshall, and St. Joseph counties.”

The South Bend - Elkhart region was one of six regions awarded $45 million. Other awards ranged from $10 million to $35 million.

Gov. Eric Holcomb included $500 million in READI 2.0 funds as part of his 2023 Next Level Agenda. It was approved by the Indiana General Assembly during the 2023 legislative session.

In February, the RDA submitted its application with a primary focus on attracting and retaining talent, nurturing future talent, fostering innovation and entrepreneurship, advancing industry diversification, and bolstering infrastructure. The application stemmed from extensive community involvement. Overseeing the process, a READI 2.0 steering committee collaborated with municipal and anchor partners, as well as examined stakeholder engagement outcomes garnered from 200 participants across six community workshops.

The South Bend – Elkhart region was the recipient of $50 million in READI 1.0 funds in 2021. In 2022, the RDA awarded $40 million to 17 Quality of Place projects and $6.4 million in funding to 11 programs, resulting in an estimated $448 million in additional private and public investment. The full list of regional READI 1.0 projects can be found here.

“Thank you to Gov. Holcomb and the Indiana State Legislature for this program,” said Bethany Hartley, President and CEO of the South Bend – Elkhart Regional Partnership. “It is a story heard around the state – READI 1.0 funds have transformed communities – allowing them to improve quality of life and address issues on a scale and at a speed unattainable otherwise. We have seen the impact of READI 1.0 on our region and look forward to what is to come.

Other regions and awarded funds can be found here.