$500 million in statewide READI grants to be announced today

Organizations around the state should be finding out today whether they qualified for a share of $500 million in state funds to stimulate housing, to improve regional amenities, to enhance workforce training and to encourage innovation in their regions.

The state is scheduled to announce grants today from the READI program, or Regional Economic Acceleration Development Initiative which was first announced in May. The program established 18 regions, with the possibility of up to $50 million in grants per region, for a total of $500 million dollars. The hope is to attract $2 billion in private and public investment. The program requires all READI funds be matched on a dollar for dollar basis by local governments or other public sources.

Among the proposals, the South Central Indiana Talent Region sought $50 million dollars. That includes the communities of Columbus, Seymour, North Vernon and Edinburgh, and their counties of Bartholomew, Jackson, Jennings and portions of Shelby and Johnson counties.

Also applying for a $50 million grant was a group of eastern Indiana communities along Interstate 74. Accelerate Rural Indiana includes Greensburg, Shelbyville, Batesville and Rushville as well as Decatur, Rush and Shelby counties.

Announcements on the grant recipients are expected this afternoon after the Indiana Economic Development Corporation meets with Gov. Eric Holcomb.