April 11, 2024

State awards $500 million for READI 2.0, aiming to generate $11 billion in investment statewide

Article origination IPB News
Gov. Eric Holcomb chaired a meeting of the Indiana Economic Development Corporation board Thursday, April 11, 2024, at which the board approved $500 million in awards for the READI 2.0 program. - Brandon Smith / IPB News

Gov. Eric Holcomb chaired a meeting of the Indiana Economic Development Corporation board Thursday, April 11, 2024, at which the board approved $500 million in awards for the READI 2.0 program.

Brandon Smith / IPB News

The second phase of Gov. Eric Holcomb’s READI program — a regional economic development initiative — is set to generate $11 billion in investment across the state.

The latest $500 million in state funding was awarded Thursday to 15 regions, covering the entire state. The regions will receive between $10 million and $45 million for capital and infrastructure projects.

Holcomb said in this round of funding, regions could have received up to $75 million — but the proposals were all competitive enough that the state wanted to spread the money around as much as possible.

“But I think we very methodically arrived at what was not just fair, but that was effective in spurring local economic growth that's going to get to population growth and attracting, addressing talent scarcity,” Holcomb said.
 

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Many of Holcomb’s would-be successors in the governor’s race have criticized his economic development approach. They’ve said it’s a top-down strategy that ignores local input.

Holcomb waved aside those criticisms as ignorant.

“They should get busy doing the work and they would see just how much local input drives today,” Holcomb said. “This is a true partnership.”

The money will be dispersed and spent over the next several years.

Here's a full list of the funding and where it will go:

Accelerate Rural Indiana – awarded $30 million
Led by: Accelerate Rural Indiana Regional Development Authority
Counties: Decatur, Rush, Shelby + City: Batesville

Central Indiana – awarded $45 million
Led by: Central Indiana Regional Development Authority
Counties: Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan, Putnam

East Central – awarded $35 million
Led by: East Central Indiana Regional Partnership
Counties: Blackford, Delaware, Fayette, Grant, Henry, Jay, Randolph, Wayne

Greater Lafayette – awarded $35 million
Led by: Greater Lafayette Commerce Community and Economic Development Foundation
Counties: Benton, Carroll, Fountain, Montgomery, Tippecanoe, Warren, White

Indiana First – awarded $15 million
Led by: Southwest Indiana Development Council
Counties: Harrison, Knox, Perry, Pike, Spencer

Indiana Uplands – awarded $30 million
Led by: Regional Opportunity Initiatives Inc.
Counties: Brown, Crawford, Daviess, Dubois, Greene, Lawrence, Martin, Monroe, Orange, Owen

North Central – awarded $35 million
Led by: North Central Indiana Regional Planning Council
Counties: Cass, Clinton, Fulton, Howard, Miami, Tipton

Northeast – awarded $45 million
Led by: Northeast Indiana RDA
Counties: Adams, Allen, DeKalb, Huntington, LaGrange, Kosciusko, Noble, Steuben, Wabash, Wells, Whitley

Northwest – awarded $45 million
Led by: Northwest Indiana Forum
Counties: Lake, Porter, LaPorte, Jasper, Newton, Pulaski, Starke

Our Southern Indiana – awarded $45 million
Led by: Our Southern Indiana Regional Development Authority
Counties: Clark, Floyd, Jefferson, Scott, Washington

South Bend-Elkhart – awarded $45 million
Led by: Northern Indiana Regional Development Authority
Counties: Elkhart, Marshall, St. Joseph

South Central – awarded $30 million
Led by: Southern Indiana Housing and Community Development Corporation
Counties: Bartholomew, Jackson, Jennings + Town: Edinburgh

Southeast – awarded $10 million
Led by: SEI READI Inc.
Counties: Dearborn, Ohio, Switzerland, Union, Franklin, Ripley (excludes city of Batesville)

Southwest – awarded $45 million
Led by: Southwest Indiana RDA (SWIRDA)
Counties: Gibson, Posey, Vanderburgh, Warrick

Wabash River – awarded $10 million
Led by: Wabash River RDA
Counties: Clay, Parke, Sullivan, Vermillion, Vigo

Brandon is our Statehouse bureau chief. Contact him at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5.

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