TELL CITY, Ind. — The Indiana First Region is proud to announce the completion of project disbursements funded through its $15 million Regional Economic Acceleration and Development Initiative (READI) 1.0 award, originally announced by the State of Indiana in December 2021.
The $15 million award was strategically invested across the five counties that comprise the Indiana First Region — Harrison, Knox, Perry, Pike, and Spencer counties — supporting more than 15 projects designed to strengthen communities, encourage private investment, and create opportunities for generations to come.
Across the Indiana First Region, READI 1.0 investments ranged from housing and infrastructure improvements to quality-of-place projects and technical studies designed to position communities for future growth and development. Examples of READI-funded projects include:
- Expanding Housing Opportunities Across the Region
READI 1.0 supported 7 housing projects across all five of the region’s five counties, helping fund critical infrastructure and site improvements necessary to support new single-family and multi-family homes. At full buildout, these developments are expected to support the construction of more than 400 new living units, expanding housing opportunities for families, and strengthening communities throughout the Indiana First Region for decades to come. - Tell City Sports Complex
READI funding helped support the revitalization of an existing recreational asset into a regionally significant sports complex serving Tell City, Perry County, and the broader region. The investment creates an enhanced destination for recreation, youth sports, tournaments, and community activities while providing residents of all ages with a place to play, learn, compete, and grow for generations to come. - Previously Mined Lands Technical Study
This professional services initiative examined strategies to make previously mined properties more readily developable, helping unlock thousands of acres within the Southwest Indiana Megasite for potential commercial and industrial investment. The comprehensive technical study provides engineering and redevelopment recommendations designed to maximize the economic development potential of these properties while serving as a trusted due diligence resource for developers, investors, state agencies, and site selectors evaluating future investment opportunities in Southwest Indiana.
These projects represent only a portion of READI 1.0’s impact across the Indiana First Region and demonstrate the role the READI program has played in advancing community-driven economic development and public-private investment.
“Congratulations to the Indiana First Region on reaching this milestone and completing READI 1.0 disbursements. These investments have touched more than 15 projects across the region. Through READI, we are affecting quality of life in communities statewide in an unprecedented way while creating billions of dollars in total economic impact. It is a testament to the work being done in our communities and by our regional partners that we have reached this point. We look forward to what comes next through READI 2.0 and beyond,” said Jim Rawlinson, Vice President of Regional Development at the Indiana Economic Development Corporation (IEDC).
Chris Pfaff, Indiana First Regional Chairman, added, “Today is an exciting day for the Indiana First Region and Southwest Indiana. Through READI, we are stronger as a region and a better place to live, grow, and invest for residents and employers alike.”
Exceeding Matching Requirements – The Indiana First Region’s $15 million READI 1.0 award helped leverage more than $130 million in matching investment across the five-county region — generating more than $8 in matching capital for every $1 of READI funding invested.
Including READI funds, the READI 1.0 program has helped facilitate nearly $150 million in economic activity across the Indiana First Region in less than five years, demonstrating the power of coordinated regional investment. More importantly, these investments have translated into tangible improvements in communities across Southwest Indiana — including new homes, stronger infrastructure, enhanced recreational amenities, and development-ready sites that position the region to compete for future residents, businesses, and investment.
Looking Ahead – While READI 1.0 is reaching its conclusion, the Indiana First Region is already looking toward the future as READI 2.0 projects are finalized. These investments will continue building momentum across the region while supporting organic, community-led growth and development that will help power up Indiana First and Southwest Indiana for decades to come.
About Indiana First – Indiana First is a five-county READI region consisting of Harrison, Knox, Perry, Pike, and Spencer counties. The region is governed by the Indiana First Committee under the supervision of the Southwest Indiana Development Council (SWIDC), headquartered in Tell City, Indiana. To learn more, visit SWIDC.org/regional-strategy/indiana-first/.
