June '23 READI 2.0 Update


On April 28, the Indiana General Assembly adopted HB 1001, the state's biennial budget bill, which includes an additional $500 million for READI 2.0 over the next two years. These funds will allow Indiana regional partnerships to once again submit applications to the Indiana Economic Development Corporation (IEDC) for funding projects that promote talent attraction and retention and economic growth.

Signed into law by Governor Eric Holcomb on May 4, these funds will be effective on July 1.On June 22, the IEDC hosted the Q2 READI Forum in South Bend and released preliminary information regarding the anticipated READI 2.0 program. While the IEDC is awaiting approval by the state budget committee before finalizing the program, they anticipate the following:

  • Matching requirements of 3:1 for private sources and 1:1 for public sources.
  • Eligible entities include regional development authorities and regional economic development nonprofits.
  • Limited to infrastructure and capital projects.
  • Applications from the regions must include a Regional Economic Acceleration and Development Strategy, not to include specific projects.
  • Focus areas include Quality of Life, Quality of Place, Quality of Opportunity.
  • IEDC to set clear goals with quantitative metrics.

In addition to the above information, a brand new READI website was released. READI 2.0 and its implementation was discussed, and with this second round of READI funding, as the new website reads: “The Future of Indiana is Here.” This new website, created by the IEDC, is a source of statewide READI information. READI 2.0 excitement has been growing, and we’re nearing an official announcement. In the meantime, you can view the new READI website by visiting https://indianareadi.com.

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