The second phase of Gov. Eric Holcomb’s READI program — a regional economic development initiative — is set to generate $11 billion in investment across the state.

The latest $500 million in state funding was awarded Thursday to 15 regions, covering the entire state.

The regions will receive between $10 million and $45 million for capital and infrastructure projects. Holcomb said in this round of funding, regions could have received up to $75 million — but the proposals were all competitive enough that the state wanted to spread the money around as much as possible.

“But I think we very methodically arrived at what was not just fair, but that was effective in spurring local economic growth that’s going to get to population growth and attracting, addressing talent scarcity,” Holcomb said.

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Many of Holcomb’s would-be successors in the governor’s race have criticized his economic development approach. They’ve said it’s a top-down strategy that ignores local input.

Holcomb waved aside those criticisms as ignorant.

“They should get busy doing the work and they would see just how much local input drives today,” Holcomb said. “This is a true partnership.”

The money will be dispersed and spent over the next several years.

East Central Indiana

The East Central Indiana region and its eight counties was awarded $35 million – which is tied for the second highest award.   The region’s application focused on the priorities of quality of life, housing and infrastructure, childcare and family support, and education.

In 2021 during the first round of funding, the East Central region tied for the second lowest award, and was given just $15 million.

READI officials previously said housing issues would be prioritized.  Nineteen projects were funded, including 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.

Stephanie Wiechmann contributed reporting.

Brandon is our Statehouse bureau chief. Contact him at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5.