Southern Indiana (August 12, 2022) – Nearly 400 new homes are being planned across southwest Indiana, to address the gap in quality workforce housing. The Indiana First region, recognizing a critical need for additional housing in all counties throughout the area, will focus much of its READI grant award on the “Talent’s Hometown” program. This initiative will support multiple public infrastructure projects in each county, opening additional development opportunities for residential builders.
“As a region, the shortage of quality, affordable housing is one of our greatest challenges,” said Erin Emerson, Executive Director of the Perry County Development Corporation, and Indiana First committee member. “Spurring growth in the housing sector is absolutely critical to our ability to retain and attract talent and we are excited about the impact these projects will have on our individual communities and our region as a whole.”
Upon completion of the initial round of READI funding, awarded by the Indiana Economic Development Corporation, the Indiana First region anticipates an increase of more than 205 single family homes, and at least 85 multi-family residential units across the five-county area. These new residential developments, in Harrison, Knox, Perry, Pike, and Spencer Counties are made possible through $7.1 million in READI grants for public infrastructure projects. As a result, this state funding will leverage more than $109 million in private capital investments, and nearly $39 million in local matching funds.
In addition to public infrastructure for housing, other projects from the Indiana First regional plan are being considered for funding, with approvals anticipated in the coming weeks.
About Indiana First
The Indiana First READI Region includes Harrison, Knox, Perry, Pike, and Spencer Counties in southwest Indiana. The region was awarded $15 million from the state’s READI program, intended to accelerate projects that will enhance the area’s quality of life, and increase competitiveness for economic growth.
Indiana’s nationally recognized Regional Economic Acceleration and Development Initiative (READI), administered by the Indiana Economic Development Corp., allocated $500 million in initial funding for projects which will improve the quality of place, and quality of opportunity, in communities throughout the state. It also encourages a new level of regional collaboration that bring mutual stakeholders together to determine for themselves the future of their communities.
Chris Pfaff (Indiana First Vice Chair)