INDIANA – The Indiana Economic Development Corporation (IEDC) has allocated $30 million in READI 2.0 funding to the Indiana Uplands.
Through this program, IEDC aims to accelerate the State’s economic growth by supporting regions and building on the successes of past programs such as READI 1.0, Regional Cities, and the 21st Century Talent Initiative.
Regions across Indiana will have the opportunity to support projects that address at least one of IEDC’s key performance indicators, which include:
- Population growth
- Per capita income growth
- Increase in employment opportunities
- Educational attainment
- Number of housing units developed
- Increase in childcare capacity
- Increase in innovation activities
Eligible READI 2.0 projects are limited to capital projects or infrastructure improvements.
Capital projects include, but are not limited to:
- construction or rehabilitation of new or existing facilities,
- acquisition of tangible personal property or equipment with a useful life of at least one (1) year and used for a particular purpose aligned with the owner’s business or governmental purpose;
- land acquisition;
- other expenses directly related to items (i) – (iii), including professional services, installation costs, debt or lease payments, permitting fees, developer and property management fees, legal expenses, or other project costs approved by the IEDC.
Infrastructure projects may be publicly or privately owned and include water, wastewater/sewer, electricity, gas, broadband, roads and sidewalks, and parking garages.
Eligible redevelopment projects must involve the redevelopment or rehabilitation of vacant, deteriorating, underutilized, or blighted properties that have a demonstrated impact on the valuation of the subject asset and surrounding property values (“Blighted Properties”). Blight can also be identified by a local ordinance that designates an area as blighted or needing redevelopment. Vacant should be defined as 1) uninhabited residential single-family properties that have been vacant for a year or more, or 2) commercial buildings in which at least 50% of the building is vacant for more than one year or at least 75% vacant and poses a significant opportunity for redevelopment. The IEDC will remain flexible if communities can create a compelling case regarding certain properties being considered blighted or vacant.
Please review IEDC’s Policy Requirements to learn more about what may be eligible for READI funding.
READI 2.0 in the Indiana Uplands
As with READI 1.0, Regional Opportunity Initiatives (ROI) will serve as the regional intermediary for READI 2.0 in the Indiana Uplands. Ten Uplands counties are participating in this round. The $30 million allocation awarded to the Indiana Uplands was based on goals and strategies developed in collaboration with regional stakeholders through listening sessions in every county, consultation with regional employers and community leaders, regional studies, and strategic planning. In preparation for upcoming meetings with IEDC, ROI is inviting regional stakeholders to submit information on potential projects that may align with READI 2.0 priorities.
READI projects funded in the Indiana Uplands should align with one or more of the region’s goals detailed below.
Goal 1: Leverage advanced technologies to position the Indiana Uplands for economic opportunity and continued growth across its key employment sectors: advanced manufacturing, life sciences, and national security and defense.
Goal 2: Develop and enhance the quality of place assets to support economic opportunity and growth.
Goal 3: Grow the Uplands talent pipeline through K-12 and postsecondary programming and implement targeted talent attraction and retention strategies.
Goal 4: Increase economic vitality across the Uplands by focusing on the region’s unique cultural, artistic, physical, and livability assets.
Arts & Culture READI Projects
The Lilly Endowment has awarded a $250 million grant to the Indiana Economic Development Corporation (IEDC) to help bolster quality of place efforts throughout the state. IEDC will allocate $65 million to support an arts and culture Initiative. (Note: In addition to capital projects, arts programming is eligible if funded by the READI 2.0 LEI Art and Redevelopment Initiative.)This initiative aims to unleash regional creative transformation through capacity building for the arts, investment in public art, and the development of cultural amenities accessible to the community. Funding can support both capital and programmatic costs for these grants.
Eligible projects and programs include, but are not limited to:
- Public art, including murals, sculptures, installations, programmable lighting on key assets, or other artistic community improvements
- Development of museums, performing arts venues, art centers, art studio complexes, or other culturally significant attractions or facilities (including improvements to existing facilities)
- Art and cultural competitions or festivals, provided the applicant demonstrates long-term funding commitments to sustain any such effort
- Initiatives to attract nationally and internationally recognized arts and cultural performances to Indiana
- Initiatives to support the further development of a region’s creatives and creative economy
- Development of visual architectural design elements that are unique to local communities
Please review IEDC’s READI 2.0 Redevelopment and Arts Initiative information before proceeding to ensure that your project aligns with the State’s policies.
Eligibility Checklist
This checklist is a tool to determine if your project is eligible for READI 2.0 funding. To have a successful READI 2.0 application, you must meet all of the eligibility requirements listed below. Don’t hesitate to contact Maren Harris at maren@regionalopportunityinc.org with any questions.
- The project is a capital or infrastructure project.
- Only Arts & Culture activities funded through the READI 2.0 LEI Art and Redevelopment Initiative may have programmatic components.
- The project will be catalytic.
- The project addresses one or more of the State’s READI 2.0 Key Performance Indicators.
- The project will meet a goal and strategy in the Indiana Uplands READI 2.0 plan.
- The project has community support.
- Match funding of 1:1 public and 3:1 private has been secured.
- The project will commence construction by July 1, 2026.
- My organization can comply with the State’s procurement procedures.
Continue to the READI 2.0 Project Portal
Submissions are due May 17, 2024.
