COLUMBUS— The Indiana Economic Development Corporation (IEDC) announced that Regional Economic Acceleration and Development Initiative 2.0 (READI 2.0) projects are officially moving forward in south-central Indiana with the expansion of NexusPark, a health, wellness, and recreation facility dedicated to improving the lives of Hoosiers in Columbus and the surrounding communities.
Governor Eric J. Holcomb established the now $1.25 billion READI program in 2021, and it has since been nationally recognized for its success. READI 2.0, which was part of the governor’s 2023 Next Level Agenda and approved by the Indiana General Assembly, allocates another $500 million to regions across the state to accelerate shovel-ready projects and programs that are expected to transform Indiana communities, attract talent, and improve quality of life for Hoosiers in the short and long term. READI 2.0 funding allocations were awarded to 15 regions representing all 92 Indiana counties in April.
“Indiana’s READI program has challenged local and regional leaders to think creatively and strategically about their futures, and the NexusPark project is an inspiring example of reuse – transforming an abandoned mall into a regional destination for health and wellness, recreation and economic impact,” said Indiana Secretary of Commerce David Rosenberg. “This development is already fueling community connections and regional growth, and this next phase of investment will build on this momentum, creating a lasting impact on Hoosiers across Columbus and the south central region.”
In Columbus, the region’s first READI 2.0 project will build on a READI 1.0 development—the creation of NexusPark, which is transforming an abandoned mall into a destination for health and wellness. Phase one of the project includes the development of an indoor sports facility, a regional hub for wellness-related services, the city’s park administrative offices, community spaces for residents and families, and an outdoor park and trail space.
Now, the region is investing $4.2 million (including a $1 million READI 2.0 allocation) in the next phase of the development, will add synthetic turf on six outdoor ball diamonds at the adjacent Lincoln Park, and create a complimentary set of amenities, enhancing the future exterior campus that is set to include greenspace, trails, lighting, and outdoor restrooms. With the recent addition of the NexusPark Fieldhouse, the synthetic turf at Lincoln Park will create new opportunities for indoor/outdoor sporting event combinations and extend the event season, increasing economic benefit by an estimated $950,000 annually. The project is expected to start late this year and be complete by the end of 2025.
“The adaptive reuse of a former mall into NexusPark, a 550,000-square-foot health and wellness facility, was facilitated by READI 1 dollars. State funding through READI 1 magnified the impact we could have on our residents’ quality of life and give a healthy boost to our sports tourism industry,” according to Columbus Mayor Mary Ferdon. “Additional funding from the state through READI 2.0 allows us to grow regional sports tourism, increase the number of events we can host, and improve the quality of play. If the goal of READI funding were to drive economic impact, that goal would have been met in Columbus by assisting in making these investments in our region and city’s future.”
READI 1.0 has awarded $487 million to 353 unique projects and programs across the state, yielding $12.6 billion invested (26:1 investment leverage ratio) in quality of life, quality of place, and quality of opportunity initiatives. READI 2.0, which secured additional funding awarded by the Lilly Endowment Inc., is allocating another $750 million to accelerate community development investments statewide. This funding is expected to attract a minimum 4:1 match of local public and private financing, yielding at least $3 billion invested to increase the vibrancy and prosperity of Hoosier communities.
Columbus is part of the South Central READI region – led by the Southern Indiana Housing an Community Development Corporation – that was awarded $60 million total in READI 1.0 and READI 2.0 matching funds to support quality of life, quality of place and quality of opportunity projects across Bartholomew, Jackson, and Jennings counties as well as the town of Edinburgh. The region’s READI investments, including the NexusPark expansion, are designed to inspire and cultivate collaboration among companies and communities to build powerful technologies, prosperous communities, and a resilient future by focusing on innovation and entrepreneurship, education and workforce development, housing, and quality of place.
Learn more at IndianaREADI.com.
