SOUTHERN INDIANA (March 10, 2023) – The Indiana First READI Region met with area stakeholders today to provide updates on 19 economic development projects approved to receive funding from the state’s Regional Economic Acceleration and Development Initiative. The group hosted a morning reception to announce its $15 million READI award will leverage as much as $153 million in additional investments throughout the region.
The Indiana First region includes Harrison, Knox, Perry, Pike, and Spencer counties, which are also members of the Southwest Indiana Development Council (SWIDC). Representatives say the projects have met all the necessary requirements to receive READI grant funding.
The projects include nine housing developments across all five counties, resulting in more than 290 single-family homes, and 180 apartments, which represents $7.5 million for public infrastructure, and $101 million in local public + private investments. The Indiana First region, recognizing a critical need for additional housing in all counties throughout the region, is focusing much of its READI grant award on housing.
“The shortage of quality, affordable housing in our region is among the greatest challenges to economic growth,” said Jon Craig, Chairman of the Indiana First Committee. “The Indiana First region is focusing our efforts to address these gaps.”
There are six economic and workforce development projects being funded, which account for $5.6 million of READI funding, and will leverage another $50 million in local investments. These projects include workforce training for health careers, industrial park improvements, and a case study for previously mined lands.
Quality of place initiatives are also among the projects, and include more than $580,000 in READI funds to support park improvements, a sports complex, and renovations to an amphitheater. These projects will leverage another $3.5 million in local + private matching funds.
About Indiana First
The Indiana First READI Region includes Harrison, Knox, Perry, Pike, and Spencer Counties in southwest Indiana. The region was awarded $15 million from the state’s READI program, intended to accelerate projects that will enhance the area’s quality of life, and increase competitiveness for economic growth.
Indiana’s nationally recognized Regional Economic Acceleration and Development Initiative (READI), administered by the Indiana Economic Development Corp., allocated $500 million in initial funding for projects which will improve the quality of place, and quality of opportunity, in communities throughout the state. It also encourages a new level of regional collaboration that bring mutual stakeholders together to determine for themselves the future of their communities.