News Summary
A recent Indiana University report validates the effectiveness of the Regional Economic and Acceleration and Development Initiative (READI). Established to foster regional collaboration, the initiative has successfully met economic goals through local leadership. With $1 billion allocated for projects targeting improvements in housing, transportation, and community infrastructure, READI aims to enhance the quality of life across Indiana. The study highlights the initiative’s differentiated approach and its role in promoting cohesion among regions, indicating a positive trajectory for Indiana’s economic growth.
Indianapolis, Indiana — September 10, 2025
A recent report commissioned by the state of Indiana has confirmed that the regional economic development approach established through the Regional Economic and Acceleration and Development Initiative (READI) is effective and aligns with statewide growth objectives. The study, conducted by researchers at Indiana University’s Kelley School of Business, was officially submitted on August 15, 2025, and emphasizes the success of the program in fostering regional collaboration and economic development across the state.
Key Findings Highlight READI’s Effectiveness
The report validates that the 15 READI regions, formed through local leadership and collaboration, are meeting targeted economic goals. It demonstrates the regions’ ability to efficiently capture economic activity and build trust among local leaders and stakeholders. The findings also suggest that the regional approach is more socially efficient compared to previous models based on traditional economic regions.
Funding and Projects Drive Regional Growth
READI was initially launched in 2021 with a budget of $500 million. Its first round of funding was highly competitive, receiving $1.5 billion in applications for approximately 800 projects. These projects ranged from housing and transportation infrastructure to parks and community centers, all aimed at improving quality of life for residents.
Given the program’s popularity, Indiana lawmakers allocated an additional $500 million in 2023 for a second round of funding. While the initial funding distribution was slower, primarily due to federal requirements and procedures, the subsequent round moved more quickly, enabling faster project implementation across regions.
Regional Structure and Analysis
As part of the recent review, local government units formed 15 regions for the second phase of READI. The study compared these regions with the previous 12 Economic Growth Regions established under Governor Mitch Daniels. It found that the former regions are less cohesive and have differing boundaries, which limits their effectiveness for strategic economic planning.
Researchers Phil Powell and Tim Slaper observed that the READI regions demonstrate a higher degree of intergovernmental cooperation, although this cooperation is less prominent in southern Indiana. The report highlights concerns about certain southwestern counties that remain disconnected across different READI regions, which could hinder overall regional cohesion and project implementation.
Measuring Regional Cohesion and Efficiency
The study assessed the tightness scores of each region, which indicate how well integrated the regions are. Scores ranged from 0.868 to 0.891 on a scale of 0-1, reflecting a strong level of coherence. This measure suggests that the regions are meeting the criteria for effective regional planning and resource sharing.
Support from State Leadership
Indiana’s Governor, Mike Braun, publicly supported the report’s findings, emphasizing that the validated regional framework would help the state lower costs and improve the efficiency of economic development efforts. The Secretary of Commerce, David Adams, also expressed support, underscoring the approach’s alignment with Indiana’s economic growth strategies.
Implications and Future Directions
The report recommends continued attention to the southwestern counties to strengthen regional ties and ensure equitable development. Its insights will guide future project funding decisions and encourage further collaboration within and across regions to maximize economic benefits.
Overall, the findings confirm that Indiana’s investment in regional development through READI is producing positive results, with structured regional coordination playing a key role in fostering sustainable economic growth across the state.
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Additional Resources
- Indiana Capital Chronicle
- Courier Press
- WANE
- The Star Press
- Herald Bulletin
- Wikipedia: Economic Development
- Encyclopedia Britannica: Economic Development
- Google Search: Indiana Economic Development
- Google Scholar: Indiana economic growth
- Google News: Indiana economic development
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The INDIANAPOLIS STAFF WRITER represents the experienced team at HEREIndianapolis.com, your go-to source for actionable local news and information in Indianapolis, Marion County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Indianapolis 500, Indy Jazz Fest, and the Indiana State Fair. Our coverage extends to key organizations like the Indy Chamber and Visit Indy, plus leading businesses in motorsports and healthcare that power the local economy such as Indianapolis Motor Speedway and IU Health. As part of the broader HERE network, we provide comprehensive, credible insights into Indiana's dynamic landscape.
