What's included in Gov. Holcomb's READI 2.0 for Quality of Place?

By: Camille Sarabia

Posted: Sep 5, 2023 9:12 PM EDT

Gov. Holcomb's READI Initiative incorporates quality of life, quality of place and quality of opportunity.

READI 2.0 (Regional Economic Acceleration and Development Initiative) gave $500 in funds towards focusing on "quality of place."

This funding is addition to READI, as it rolled out in 2021, with an initial $500 million to support several Indiana region's growth.

READI allocates the $500 million to 17 regions in 92 counties.

Quality of Place includes:

offering diverse housing options to fit every Hoosier's budget and needs
top-notch infrastructure services
constructing homes
housing investments to enhance water, wastewater and road systems
fostering vibrant mix-use developments

Locally, for 2.0, more than $500,000 will go towards Michigan City to support the reuse of state prison and manufacturing at Ivy Tech.

$66,000 will go to the Pulaski County Community Development Commission to promote entrepreneurship in rural areas.

The state is accepting applications to nominate projects for the second round of funding.

Out of 115 prospected quality of place projects, 93 have been approved across the state Indiana for round 1.

Indiana READI

One approved project is the Peru Riverfront project, where $2.75 million helps transform unused railroad property into housing an community amenities.

$6.6 million of the READI grant goes towards the 12.9-mile extension of the Chessie Trail in La Porte County, connecting La Porte to Michigan City for residents and commuters to have access to the South Shore Line.

See more projects on Indiana Economic Development Corp.

“This transformative program will fund projects that lean into a region's strengths while building community gathering places, accessible parks, performing arts centers and expanding the trail system that will have generational impact across each region and with every person who visits our great state," said Gov. Holcomb.

Among the 17 regions, five regions in Michiana were identified and awarded in 2021, according to Indiana Economic Development Corp.

North Central Indiana Regional Planning Council – awarded $30 million
Fulton, Cass, Miami, Howard, Tipton, Clinton

Northeast Indiana, led by the Northeast Indiana RDA – awarded $50 million
DeKalb, Lagrange, Steuben, Noble, Kosciusko, Whitley, Allen, Wabash, Huntington, Wells, Adams

Northwest Indiana, led by the Northwest Indiana Forum – awarded $50 million
Lake, Porter, Laporte, Starke, Pulaksi, Jasper, Newton

South Bend-Elkhart RDA– awarded $50 million
St. Joseph, Elkhart, Marshall

Wabash River Regional Development Authority – awarded $20 million
Clay, Knox, Parke, Sullivan, Vermillion, Vigo

READI 2.0 projects will focus on population growth and quality of life investments.

Here's their timeline:

READI 2.0 timeline & information:

September 2023 – February 2024: Regions develop funding proposals;
September 26, 2023: Q3 IEDC READI Forum in Muncie
September 2023 – February 2024: IEDC visits each participating region to see READI 1.0 investments and discuss future vision and strategy.
December 2023: Q4 IEDC READI Forum
February 23, 2024: Regional proposals due to the IEDC.
April 2024: Proposed IEDC board approval of investment commitments and allocations to regions. Exact date to be announced at a later date.
May 2024: IEDC begins coordination with regions in identifying regionally significant capital and infrastructure projects for investment.