The Northeast Indiana Regional Development Authority on Wednesday announced intent to apply for Regional Economic Acceleration and Development Initiative – known as READI – funding.
The Regional Development Authority has been endorsed as the region's applicant by several key regional groups, including the Mayors and Commissioners Caucus of Northeast Indiana, the Local Economic Development Organization Council and the Regional Opportunities Council.
The Regional Development Authority will formally submit intent to apply to the Indiana Economic Development Corp. before the July 1 deadline.
The organization is “already hard at work on a compelling application for READI Program funds and has the leadership, staff and structure in place to execute this critical work for our state and region,” Board President Gene Donaghy said in a statement.
Indiana launched READI to be a transformational program that will dedicate $500 million in state funds to promote strategies to help make Indiana a magnet for talent and economic growth.
Separately, northeast Indiana was one of three regions in the state that received a $42 million grant in 2015, and the region secured match dollars to ultimately create $264 million of investment throughout the 11 counties.
Raymond Kusisto, CEO of Ortho NorthEast and Regional Opportunities Council chair, said business leaders understand and support quality-of-place investments.
“This initiative, like the Regional Cities Initiative, enhances the quality of life for all residents and bolsters our employers' efforts to attract new talent to the region,” Kusisto's statement said.
The Northeast Indiana Regional Partnership, which serves the same 11 counties as the Regional Development Authority, has been contracted to provide administrative support for READI.