The South Bend – Elkhart region has distributed over 72% of its Regional Economic Acceleration and Development Initiative (READI) 1.0 funds to projects.
The Indiana Economic Development Corp. requires 65% of the Region’s total allocation to be disbursed before any READI 2.0 funds can be drawn down.
“Surpassing 72% of READI 1.0 disbursement is a clear sign of the incredible progress we’ve made as a region,” said Bethany Hartley, South Bend – Elkhart Regional Partnership president and CEO, in a press release. “These investments are already transforming communities, driving private development, and improving quality of life across Elkhart, Marshall and St. Joseph counties.”
This totals over $35 million of the awarded $50 million READI 1.0 funds invested in the South Bend – Elkhart region. The READI 1.0 funds are anticipated to leverage an additional $448 million in private and public funding. Potawatomi Zoo was the first READI 1.0 project in the Region to draw the entirety of its READI award. The $1.07 million grant was put toward the $6.2 million Concession Lodge and Black Bear Habitat.
In 2024, the South Bend – Elkhart region received $45 million in READI 2.0 funds. The Northern Indiana Regional Development Authority preliminarily selected 13 projects in December to move forward for final IEDC approval. With the READI 1.0 milestone reached, the IEDC is currently reviewing READI 2.0 projects.
