SEI READI $14.1M supports additional $395M in Southeast Indiana investment

Press release from SEI READI, Inc.

For immediate release Monday, May 8

SEI READI

Projects focus on talent and economic growth across six counties in Southeast Indiana.

(Southeast Indiana) – Efforts around new housing, crowd-pleasing quality of place amenities, rural broadband, and increasing childcare capacity in Southeast Indiana have been made possible through the Indiana Economic Development Corporation (IEDC) Regional Economic Acceleration and Development Initiative (READI) program and SEI READI, Inc.

Nineteen projects across Dearborn, Franklin, Ripley, Ohio, Switzerland and Union counties are receiving critical investments from the $15 million READI allocation the IEDC awarded to the SEI READI region in December 2021. The READI funding is leveraging more than $395 million in investments for the region.

“The READI investments made across Southern Indiana are all examples of what has made the READI program so successful and impactful,” said Vincent Ash, vice president of development at the IEDC. “These projects are generating more than $395 million in additional investment in projects that run the gamut from quality of life and quality of place to infrastructure and tourism.”
 
The list of funded projects to date, their locations, READI investment amounts are listed below:

  • Aurora State Road 148 Housing Infrastructure, Dearborn County, $215,000
  • Brookville Sewer Extension for Franklin County Housing, Franklin County, $4,464,107
  • Golden Road Infrastructure Gas Line Project, Franklin County, $250,000
  • Lawrenceburg Liberty Theater Renovation, Dearborn County, $600,000
  • Lil’ Patriots Preschool, Union County, $140,000
  • Milan Street Lights, Ripley County, $100,000
  • North Dearborn Water Authority Expansion, Dearborn and Franklin counties, $3,070,000
  • Ohio County Pavilion and Pop-Up Project, Ohio County, $50,000
  • SEI Broadband Clearinghouse, regional, $102,978
  • South Dearborn Regional Sewer District Wastewater Treatment Plant Modernization, Dearborn County, $2,486,633
  • State Road 1 Corridor Economic Development Plan, Dearborn and Franklin counties, $87,400
  • Switzerland County Workforce Housing, Switzerland County, $1,263,754
  • Switzer Square Housing, Switzerland County, $206,128
  • United Way of Southeast Indiana Early Education Access, regional, $140,000
  • Versailles Pocket Park, Ripley County, $86,000

SEI READI, Inc. has allocated $900,000 of the award for state and local READI grant administration and legal services required to participate in the READI program. Additional projects totaling $938,000 in READI investment are pending final approvals and are expected to be announced in the coming weeks.

The investments create the potential for more than 700 new housing units, which will help Southeast Indiana grow its population.

“READI has been a landmark program for Indiana and especially moving the needle on regional cooperation and growth in our region. Many of these important projects would not be happening without the IEDC’s partnership,” said SEI READI Board of Directors President Bill Schirmer.

“We thank Governor Holcomb, IEDC Secretary Brad Chambers, and Indiana lawmakers for crafting this nationally recognized READI program. Our board and economic developers were proud to work with the IEDC and the various project partners over the past two years to help maximize the benefit of our $15 million award.”

Indiana launched READI, a bold, transformational initiative which dedicates $500 million in state appropriations to promote strategic investments, to make Indiana a magnet for talent and economic growth. The full, statewide READI program is expected to result in a projected $9.8 billion in total investment including local public, private and philanthropic match funding, which will propel investment in Indiana’s quality of place, quality of life and quality of opportunity.

SEI READI, Inc. and economic development organizations in all six counties are making preparations to seek funding in a proposed second round of the READI program in 2023. More information about SEI READI and updates can be found at www.southeastindiana.org.