Communities across all 17 regions in Indiana will receive $500 million as part of a new, innovative state grant aimed at increasing quality of life and attracting top talent, according to local lawmakers.
On Tuesday, Gov. Eric Holcomb announced $50 million will go to counties in the Southwest, including Gibson, Posey, Vanderburgh, and Warrick. The communities, led by the Southwest Indiana Regional Development Authority, submitted a regional development plan as part of a competitive grant process through the Indiana Regional Economic Acceleration and Development or READI initiative.
“Congrats to all four counties for collaborating to receive the maximum amount in READI funding,” said State Rep. Tim O’Brien (R-Evansville). “The goals and projects envisioned by the Southwest Indiana Regional Development Authority, including new developments and an indoor sports complex, are impressive and should be a driver for regional tourism and a growing workforce.”
During the 2021 legislative session, State Reps. Cindy Ledbetter (R-Newburgh) and Wendy McNamara (R-Evansville) voted for a record investment in READI in order to encourage communities to partner and create a plan for the future. O’Brien was not in office yet but said he supports this initiative.
“This initiative will continue to make Southwest Indiana a great place to work, visit and raise a family,” Ledbetter said. “Enhancing our region’s amenities will help attract new workers and address labor shortages. Growing companies need highly skilled employees and enhancing our quality of life will encourage the best and brightest to consider a move to the area.”
Regional development plans across the state included housing, trails, broadband, childcare and wellness initiatives, workforce development programs, and telling Indiana’s story to the world. McNamara said the plans enumerated a nearly 10:1 capitalization leverage ratio from private and public sources as compared to the state investment.
“Both urban and rural areas will benefit from the projects thoughtfully proposed for our region,” McNamara said. “By investing in talent attraction and retention, this funding should have a snowball effect, creating additional investments and economic growth in our communities.”
