Another region of Indiana says it will be seeking a portion of the $500 million Regional Economic Acceleration and Development Initiative grant program. The 11 counties centered around Bloomington, collectively known as the Indiana Uplands, say they will participate in the READI program.
Economic development officials from Regional Opportunities Initiatives and Radius Indiana say they notified the Indiana Economic Development Corp. their intentions to seek funding.
“READI will allow our region of 406,000 individuals living in 48 cities and towns to take the next steps in further activating a rural region with rapidly growing technology-driven sectors, world-class education assets, and incredible natural resources,” said ROI President and Chief Executive Officer Tina Peterson. “We have momentum, and we are READI to build upon it.”
Through READI, regional grants of up to $50 million will support projects and programs that help make Indiana a magnet for talent and economic growth. Regions will be required to provide matching dollars to leverage the potential of READI.
“Our region’s wealth of recreational and tourism attractions will really shine brighter as the READI program allows us to enhance the quality of place and nourish the dynamic economic growth and entrepreneurship that are part of the culture here,” said Jeff Quyle, president and CEO of Radius Indiana.
ROI says it has opened an online tool to allow Uplands organizations to provide information on potential projects and programs that have the capacity to grow the region’s economic outcomes through investments in place-based talent, business, and quality of place opportunities. Those local submissions will be accepted through July 30.
The state says the READI funding decisions are expected to be made in December.