Scott Co. To Share In $50 Million; Jackson County $30 Million In READI Funds
Governor Eric J. Holcomb and the Indiana Economic Development Corporation (IEDC) Board of Directors approved plans last Tuesday to award $500 million to support regional development plans across 17 regions representing all 92 counties in the state. This competitive process considered applications for the Indiana Regional Economic Acceleration and Development Initiative (READI).
Our Southern Indiana RDA (Regional Development Area) representing Scott, Washington, Floyd, Jefferson, and Clark Counties was awarded $50 million.
The Scott County project is a $12.8 million youth sports complexes for which $5.4 millions was requested.
South Central Indiana Talent Region representing Jackson, Bartholomew Jennings County as a portion of the town of Edinburgh was awarded $30 million.
The South Central Indiana Talent Region presentation includes 26 projects, including six totaling $7 million in Jackson County.
The Jackson County projects include $2.4 million in READI grant funding for an $8 million sewer expansion in the Uniontown area and $2 million in READI grant funding for a $10 million expansion of career and technical programs at Seymour High School. A third Jackson County project would fund $400,000 of a $2 million expansion of the Jackson County Learning Center.
READI projects represent the largest investment in state history, according to Holcomb. The funds were made available through President Joe Biden’s COVID American Rescue Plan economic recovery initiative.
The total requests tripled the allocated $500 million READI budget, as submissions from the 17 regions amounted to more than $1.5 billion in demand and detailed nearly 800 projects and programs with a potential investment of $15.2 billion. “The seventeen regions submitted innovative, creative and visionary projects that will result in a positive economic impact on Indiana’s future,” said Gov. Holcomb. “It took immense collaboration between communities as they put aside their own visions and worked together to present the best plan for the region. These plans will shape Indiana for generations to come and bring value to our state like nothing we’ve witnessed before. I want to thank the general assembly for having the courage and leadership to prioritize this initiative.”
The regional development plans included housing, trails, broadband, childcare and wellness initiatives, workforce development programs, and telling Indiana’s story to the world. The plans enumerated a nearly 10:1 capitalization leverage ratio from private and public sources as compared to state investment.
The IEDC will begin to execute grant agreements with regions while providing training and guidance on federal requirements. Regional leadership will collaborate with the IEDC to prioritize projects and maximize investment.
Launched by Gov. Holcomb and led by the IEDC, READI builds on the framework and successes of the Indiana Regional Cities Initiative and the 21st Century Talent Initiative, encouraging regional collaboration and data-driven, long-term planning that, when implemented, will attract and retain talent in Indiana. The $500 million READI fund was passed by legislation during the 2021 session.