State officials have extended the deadline for the Regional Economic Acceleration and Development Initiative (READI) to Sept. 30.
The state said each of the regions, which represents participation across 91 counties, will continue working to collaborate and develop strategic plans to accelerate small- and large-scale growth within their communities. The regions are competing to secure matching funds through the state’s $500 million initiative.
Proposals will be reviewed during October and November, and first round investment decisions will be made and announced in December.
More information, including answers to frequently asked questions and a map of all the identified regions, is available on the Indiana Economic Development Corp.’s website dedicated to the READI program.
The Indiana READI program was revealed in May. It is a $500 million workforce attraction and economic development initiative.
State officials project the program will draw $2 billion of local public, private and philanthropic match funding to enhance other efforts to improve quality of place, quality of life, and quality of opportunity.
The state hopes the program will encourage collaboration between neighboring communities to dedicate resources that align with READI’s goals. Successful collaborative efforts could land awards up to $50 million from the Indiana Economic Development Corp. to support the implementation of regional strategies.