READI is going to dedicate $500 million in state funds to make Indiana a magnet for talent and economic growth. It’s all about building places where people will want to live and work. Officials estimate at least $9.86 billion in public, private, and philanthropic matches will also be invested alongside the state dollars in regions throughout Indiana.
To give you a snapshot of all the recent activity, we’ve collected an assortment of several big announcements from some of Indiana’s regions.
Northwest Region
Northwest Indiana received a $50 million allocation from the READI program that is expected to create an additional $550 million total investment. A total of 34 projects have been selected to receive funding, some of which will be major infrastructure projects like the quantum-level computing network along the Indiana Toll Road, the new Hammond train station, and an additional hangar facility at the Gary International Airport. Several of the 34 projects are still pending, but some of them have already received approval for their funding, including:
Kingsbury Industrial Park RR Bridge Improvement
($602K READI funds/$4.4M total investment)
The railroad bridge improvement project in the Kingsbury Industrial Park (KIP) will provide the CN Railroad with an active switch and access to the new rail improvements in the park. About 50 businesses operate in Kingsbury, and over 2,000 acres is available for development.
Chessie Trail Expansion
($6.58M READI funds/$14.9M total investment)
The Chessie Trail Corridor will connect the city of La Porte to Michigan City, adding 12.9 miles of 10-foot-wide trails running along the existing South Shore commuter rail line.
Ivanhoe South Community Development
($977K READI funds/$1.2M total investment)
The project will install sidewalks in the Ivanhoe South Nature Preserve to improve walkability from West Side Leadership Academy and neighborhoods in Gary, IN. The extra amenities will enable more community and educational programming.
Urban League of NWI Business Training Program
($282K READI funds/$412K total investment)
The goal of the Urban League of Northwest Indiana (ULNWI) Diversity, Equity, Inclusion (DE&I) Project is to provide awareness, skills, and customer service training for a total of sixteen organizations.
Evansville Region
In Southwest Indiana, the Evansville region was awarded $50 million in READI funds to advance its plans become the talent and economic region of choice in the Midwest. Many of Evansville’s projects are focused on quality of place amenities, infrastructure, and ways to help major employers compete for top talent. Some of the Evansville region’s projects have begun, including:
Toyota Indiana YMCA
($5M READI funds/$21M total investment)
The new Toyota Indiana YMCA will be a 56,000-square-foot health, fitness, and wellness facility in downtown Princeton. It will be equipped with “first-class” amenities like a gymnasium, a competition pool, a teaching kitchen for nutrition education, a STEM lab, youth recreation areas, and more. The building is expected to open in summer of 2024.
The District Housing Complex
($2.5M READI funds/$21M total investment)
The District will be a 144-unit apartment complex in Princeton – the area’s first multi-family housing development in nearly 10 years. Once complete in 2024, the complex will offer a variety of units, a club house with an exercise room, private mail delivery room, a pool, walking paths, and more.
Northeast Region
Northeast Indiana received $50 million in READI funding. Many of the region’s major goals are focused on housing with an emphasis on accessibility and combating homelessness. Other endeavors will establish educational centers to create new jobs and renovations to historic properties. Some of the recent projects that have received funding include:
Lofts at Headwaters
($5M READI funds/$67M total investment, estimated to be $100M due to inflation)
The Lofts at Headwaters are a housing project in downtown Fort Wayne that will create 217 apartments, 15 townhomes, 12,000 square feet of retail, and a 651-space parking garage.
Arts Campus
($6M READI funds/$40M total investment)
A renovation project at the Arts Campus in downtown Fort Wayne that will save the historic theater and address issues such as electric systems and lighting, modern stage technology, and safety for employees and volunteers.
Two Housing Facilities
($1.5M READI funds/Estimated $24.5M total investment)
Two housing projects will be taking shape in DeKalb County. Fortify Home LLC will renovate a motel and create 28 units of emergency housing. Also, Seven 15 Properties LLC will create 100 housing units, 50 micro commercial suites, and establish a live-work concept.
Tons More Ahead
There are many more projects taking shape beyond those listed here, all of which will radically transform communities throughout Indiana. The state’s aim is to become a destination for talent, building more places where people want to live and work. As the READI projects continue, we’re sure to be seeing even more development taking place. It’s going to be a fun one to watch, so stay tuned.
