Forging Ahead
In 2023, the Indiana Economic Development Corporation (IEDC) announced a second round of the READI initiative. READI 2.0 will distribute $500 million to regions across Indiana to fund impactful, game-changing projects. To guide East Central Indiana through the READI 2.0 process, ECIRP recruited the help of HWC Engineering, a firm with prior experience and success with READI 1.0. Throughout the planning process, the HWC team gathered information, engaged members of the public, formed strategies, and developed an updated plan for the region. By building upon previous efforts and encouraging regional collaboration, the project team hopes to pave the way for future growth and prosperity in East Central Indiana.
Project Selection
The East Central Indiana Regional Partnership READI 2.0 Steering Committee is now accepting project applications for Regional Economic Acceleration and Development Initiative (READI) 2.0 funds and Lilly Endowment, Inc. (LEI) funds.
It is important that all information requested be included in this application. READI 2.0 funds and LEI funds are limited and will be reviewed using the East Central Indiana Scoring Rubric Tool found here before being presented to the Indiana Economic Development Corporation (IEDC) for consideration. Applications are due August 2nd, 2024, by 11:59 pm.
More information about READI and LEI funds can be found in the resource library on the IEDC’s website at https://indianareadi.com/resources.
For application review consideration, the following eligibility criteria must be met. Failure to do so may result in the submission not being reviewed for funding consideration. Eligible projects will have:
- All fields completed and all required attachments included.
- Clearly demonstrated project alignment with regional goals.
- Clearly demonstrated project alignment with state goals and key performance indicators (KPIs).
- A timeline for completion by the end of 2028.
Note: Please keep in mind that READI projects and LEI Blight Remediation and Redevelopment projects are required to have a 4:1 match. This breaks down to a 3:1 private match and 1:1 public match, which means for every $1 requested there must also be $3 dollars from private/philanthropic sources secured and $1 dollar from public funding sources secured. LEI Arts and Culture projects do not have a match requirement, but match will help the project be more competitive. READI funds CANNOT be the sole source of project funding. If your project is selected for the ECI READI project portfolio, the ECI READI team will work with you to develop your match requirements.
If you would like to save, please go to the bottom of the form and save. When saving, an email will be sent to the provided email address.
If you have any questions or comments, please feel free to reach out to the staff at the East Central Indiana Regional Partnership at readi@forgeeci.com.
Planning Process
Steering Committee
A Steering Committee was organized and charged with guiding the development of the plan. The Steering Committee is the core work group that, in conjunction with the ECIRP and its consultant HWC Engineering, will complete the bulk of the work to create a strong plan based on feedback and data collected throughout the process. Members consist of two representatives from each county that makes up the ECI READI region of Blackford, Delaware, Fayette, Grant, Henry, Jay, Randolph, and Wayne counties. Steering Committee members serve as community liaisons, connecting the project team to community leaders, employers, and other important stakeholders. The Steering Committee also provides feedback, reviews draft documents, and promotes the regional development plan.
County Workshops
To gather feedback for the regional development plan, the project team facilitated workshops in all eight of the region’s counties. Key stakeholders were invited to attend these meetings to envision the future of their county, identify barriers preventing them from achieving their vision and aspirations, and outline actions that could be taken to overcome these barriers. Across the region, there were 212 participants in the county workshops.
Regional Workshops
During the two regional workshops in August and October 2023, the project team reviewed findings from the county workshops then worked towards building consensus on regional priorities
Regional Development Plan
This plan replaces the original READI 1.0 Regional Development Plan as the new, guiding document for East Central Indiana. This update builds off the previous plan by addressing unmet goals and objectives. At the same time, the updated plan intentionally focuses on community engagement, consensus building, and collaboration. The purpose of this plan is to unite the region around a vision and investment strategy that will benefit individual counties, but most importantly, allow East Central Indiana to forge a path towards regional prosperity.
Allocation
On Thursday, April 11, East Central was awarded $35 million in READI 2.0 funding. The allocation represents a remarkable $20 million (133%) increase in support compared to READI 1.0.
