One of Six Regions Awarded Maximum Funding
EVANSVILLE, Ind. (April 11, 2024) – Today at a special meeting in Indianapolis, the board of the Indiana Economic Development Corporation (IEDC) awarded $500 million in the second round of the Regional Economic Acceleration and Development Initiative (READI 2.0). The four counties that make up the Evansville Region were awarded $45 million to advance a collection of projects to grow our population, increase the quantity and quality of available jobs, improve health outcomes, and reduce the number of households living in poverty in Gibson, Posey, Vanderburgh, and Warrick Counties.
“The Evansville Region’s compelling READI 2.0 plan enables our Talent EVV efforts through transformational capital projects including new housing, new jobs and new quality of life amenities,” said Josh Armstrong, Chief Economic Development Officer of the Evansville Regional Economic Partnership (E-REP). “We thank Governor Holcomb, the State Legislature, and the IEDC for their confidence in our efforts to grow our region, and for investments throughout the state which will positively impact the lives of all Hoosiers.”
Following the success of the 2021 READI initiative, READI 2.0 was announced in September 2023. The program dedicates $500 million in state appropriations to support strategic investments for quality of life, quality of place, and quality of opportunity capital projects. The Evansville Region responded to the READI 2.0 announcement by organizing a steering committee to guide the READI 2.0 plan to advance regional priorities. Additionally, public input, a call for projects, and participation from business and educational leaders played a crucial role in developing the region’s shared vision to accelerate both economic and population growth.
On February 15th, the Evansville Regional Economic Partnership (E-REP) and Southwest Indiana Regional Development Authority (SWIRDA) submitted the Evansville Region’s READI 2.0 plan. The plan focuses on strategies to grow our regional population, provide more employment and business opportunities, improve the health of our residents, and help families escape multigenerational poverty.
“READI 2.0 grants will provide monetary and expertise resources to selected projects that align with our strategies, allowing projects to move forward more quickly and more completely, than without grant support. These funds will generally match other funds already assembled for projects,” Armstrong added. Projects needing support may be submitted by developers, nonprofits, businesses, units of government, and residents at EvansvilleRegion.com/readi.
“With today’s announcement, the Southwest Indiana Regional Development Authority is thrilled to continue working in partnership with our regional communities to develop housing, support businesses, and develop amenities which will maintain and grow Southwest Indiana,” added SWIRDA Chair, Beth McFadin Higgins.
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ABOUT THE EVANSVILLE REGIONAL ECONOMIC PARTNERSHIP
The Evansville Regional Economic Partnership (E-REP) leads economic development efforts for the Evansville, Indiana region and elevates the overall quality of life through transformational projects, planning, advocacy, and business engagement. Additionally, E-REP supports the attraction, startup, and growth of regional businesses.
ABOUT THE SOUTHWEST INDIANA REGIONAL DEVELOPMENT AUTHORITY
The Southwest Indiana Regional Development Authority (RDA) was formed by a joint four-county ordinance in 2015 to apply for and then distribute the $42 million of Regional Cities Initiative funding. The achievement of Regional Cities Initiative was a catalyst for the $50 million Regional Economic + Acceleration Development Initiative (READI) award secured in December 2021. For READI, the RDA is the applicant, fiscal agent and has the overall responsibility for implementing the Regional Development Plan (RDP) The RDA is a quasi-unit of government and comprised of a five-member board representing Posey, Gibson, Warrick, and Vanderburgh Counties along with the City of Evansville. The Evansville Regional Economic Partnership (E-REP) was engaged to administer the regional work on behalf of the RDA.