South Bend-Elkhart region awarded $45 million from READI 2.0 funds

INDIANAPOLIS, Ind.  -- The South Bend-Elkhart Regional Partnership group announced on Thursday morning that the Indiana Economic Development Corporation (IEDC) has awarded the region $45 million in Regional Economic Acceleration and Development Initiative – or READI – 2.0 funds.

“We are ecstatic that the IEDC recognizes the work being done in the South Bend – Elkhart region and supports this regional development with READI funds this round,” said John DeSalle, Chair of the Northern Indiana Regional Development Authority. “We will continue to be good stewards in distributing these funds to have the greatest impact on quality of life in Elkhart, Marshall and St. Joseph counties.”

After approval by the Indiana General Assembly last year, Governor Eric Holcomb included $500 million in READI 2.0 funds as part of his 2023 Next Level Agenda.

The South Bend - Elkhart region was one of six regions awarded $45 million. Other awards ranged from $10-$35 million.

"In February, the RDA submitted its application with a primary focus on attracting and retaining talent, nurturing future talent, fostering innovation and entrepreneurship, advancing industry diversification, and bolstering infrastructure," said South Bend-Elkhart Regional Partnership member Liz Folkerts.

"The application stemmed from extensive community involvement. Overseeing the process, a READI 2.0 steering committee collaborated with municipal and anchor partners, as well as examined stakeholder engagement outcomes garnered from 200 participants across six community workshops."

The organization says that the South Bend – Elkhart region received $50 million in READI 1.0 funds in 2021, and in 2022, it was awarded $40 million for Quality of Place projects and $6.4 million in funding to 11 programs, resulting in an estimated $448 million in additional private and public investment.

“Thank you to Gov. Holcomb and the Indiana State Legislature for this program,” said Bethany Hartley, President and CEO of the South Bend – Elkhart Regional Partnership. “It is a story heard around the state – READI 1.0 funds have transformed communities – allowing them to improve quality of life and address issues on a scale and speed unattainable otherwise. We have seen the impact of READI 1.0 on our region and look forward to what is to come.”