A coalition of counties in southern Indiana is developing an action plan to apply for funding through the $500 million Regional Economic Acceleration + Development initiative program. The Our Southern Indiana Regional Development Authority has issued a call for projects from communities and nonprofits to participate in the READI program.
The Indiana Economic Development Corp. is looking for regions to work jointly on proposals. The maximum funding that a region may receive is $50 million.
The RDA says it has already notified the IEDC that it intends to apply. Now it is working on its regional development plan, based on suggestions from communities.
The RDA is made up of five counties in southern Indiana: Clark, Floyd, Jefferson, Scott, and Washington.
“This is a once in a generation opportunity for our region to receive a much-needed economic catalyst,” said Dana Huber, chair of the RDA Board of Directors. “To receive project funding of this magnitude we must work together and submit the best regional development plan as possible.”
Communities and non-profits are asked to collaborate to submit projects that will have a regional impact. Those reports are due to Our Southern Indiana RDA by July 20.
After the RDA board members have had time to review the submissions, they will select a list of projects to include into the Regional Development Plan, which is due by August 31.
“The RDA is asking for communities to think outside of the box, be bold, when developing their projects and working on their application,” said Huber.
The READI program was created in the state’s biennial budget during this year’s legislative session and signed into law by Governor Eric Holcomb. The budget allocated $500 million directly to the IEDC to implement and oversee the program.
Huber says all communities in the Our Southern RDA are urged to submit projects, especially those that emphasize regional impact and sustainability.