Last week, the state awarded $500 million in state funding to 15 regions for economic development projects, as part of Governor Eric Holcomb’s READI grant initiative.  As IPR’s Stephanie Wiechmann reports, the East Central region is ready to put that money to work.

In this second cycle of READI funding, the East Central Indiana region received the second highest award of $35 million.  It’s $20 million more than the first grant cycle, and the highest increase of any region.

Trevor Friedeberg heads the East Central Indiana Regional Partnership.  He says he believes that shows the hard work the eight-county region did to fund 19 projects during the first cycle, with 3,300 people participating in some way.

“It wasn’t just going through the motions, I want to make that clear.  We took the feedback.  We adjusted the whole time, as we were going to make sure we had the best product at the end of the day.  And I think that spoke volumes to the state when they took a look at it.”

Friedeberg says the work continues for the newly awarded grant money.  Since READI money can only pay for 20 percent of each project, finding the necessary $140 million in matching money is essential.

“We move sometimes at the speed of government, which isn’t necessarily the fastest.  But we’re going to hopefully be able to start identifying projects later this summer.”

As for READI 1.0, Friedeberg says all the money has been allocated, projects are being managed, and the money must be fully distributed by the end of 2026.  This includes the Gas City Music Center, Vision Corner Learning Center in Union City, the Henry County YMCA, neighborhood upgrades in Muncie, and broadband connectivity in Blackford County.

For the latest READI application, the region focused on the priorities of quality of life, housing and infrastructure, childcare and family support, and education.  Friedeberg says that’s what people said they wanted locally, and the partnership elevated it to the regional level.

The READI program has been a pet project for Governor Eric Holcomb, who is term-limited.  Many of the gubernatorial candidates have criticized the economic development approach, saying it’s a top-down strategy that ignores local input.

Friedeberg says regional development “unlocks success.”

“Because it brings people together, it forces people to collaborate, and having that incentive at the end of, you know, grant dollars that can really catalyze projects, I think that’s really critical.”

All counties in the east central region are either considered “rural” or “disadvantaged” and Friedeberg says the partnership has planned for high impact projects in all counties.

Stephanie Wiechmann is our Managing Editor and “All Things Considered” Host.  Contact her at slwiechmann@bsu.edu.