Indiana’s $500 million Regional Economic Acceleration and Development Initiative grant program is officially underway.
Governor Eric Holcomb kicked off the program this Thursday in Columbus. READI designates funds to communities across the state for “shovel-ready” projects.
The city of Columbus is getting $6.9 million for Nexus Park, a repurposed mall property that will be used for recreation and wellness services, according to a news release.
New facilities funded by READI will include park administration offices, a community center with fitness areas, child play areas, and a teaching kitchen for city residents.
“We think it’ll be a significant economic driver for the City of Columbus, for this region, particularly this neighborhood,” Columbus mayor Jim Lienhoop said.
The initiative targets all 17 regions in the state. 12 of those regions finalized grant agreements today, totaling 53 projects statewide.
“I think because Indiana, if you do the math, is in such a strong fiscal position, we’ll be able to accommodate a READI repeat,” Holcomb said.
The Indiana Economic Development Corporation is on track to spend $200 million of the grant’s funds by the end of July.
