Indiana Governor Mike Braun has voiced support for the state’s READI regional grant program, intended to help finance economic development projects statewide. That’s as the new two-year state budget doesn’t include a third round of the grants.
The first $500 million READI grant program launched in 2021 under then-Governor Eric Holcomb was paid for with federal COVID-19 funds. The second, awarded in 2024, was funded entirely with state money.
Read More: East Central Indiana ready to fund ‘high impact’ projects with READI grant money
During a Tuesday evening chat with Forge ECI, East Central Indiana’s READI-managing organization, Governor Mike Braun said he wanted to keep up the momentum the grant program created.
“I think READI grant is a good one because it’s based upon really giving a multiplier effect on what the state would invest in a community,” Braun said. “So, we’ll keep that healthy and do more of it.”
But a third round was not proposed in the budget passed in April. Braun did not give any details about when a third round would come or how it would be funded.
What about READI 2.0?
Forge interim CEO Caitlin Hancock says 65 percent of funds from the first round of READI has been dispersed. That’s the threshold set by the Indiana Economic Development Corporation to begin providing READI 2.0 dollars to regions.
Read More: Holcomb breaks ground on first READI 2.0 project, a Kokomo housing development
“I think with Governor Braun’s comments this evening that he certainly sees the value in the READI program,” said Hancock. “And I’m sure his administration will continue on in some similar capacity He recognizes regionalism is vital to the state of Indiana.”
The ECI region funded 19 projects with READI 1.0 funds. Hancock says the IEDC is still reviewing project proposals, and she hopes to have a finalized READI 2.0 project list soon.
“There’s about $788 million leveraged local match with our [region’s] READI 2.0 projects, so there’s great private and local partnerships happening,” she said.
Thomas Ouellette is our reporter and producer. Contact him at thomas.ouellette@bsu.edu
