READI 2.0 | South Bend – Elkhart Region

Welcome

South Bend - Elkhart Region

Welcome to the South Bend - Elkhart region's READI 2.0 landing page. You will learn about the READI 2.0 process (Regional Economic Acceleration and Development Initiative). You may also find updates regarding the status of READI 2.0 & 1.0 for the region (made up of Elkhart, Marshall, and St. Joseph counties).

We are excited to share that Indiana Economic Development Corp. (IEDC) awarded $45 million in funding to our region on April 11, 2024. The Northern Indiana Regional Development Authority (RDA) will begin its local project selection process during summer 2024 with anticipated project awards in late Q3 or early Q4 2024. Please see FAQs for more information. In READI 2.0, only capital projects are eligible for funding. More information can be found at IEDC’s 2.0 READI resources.

If you are an enthusiast, check back for updates on READI 1.0 & 2.0 below.

If you are considering applying for READI 2.0 funding the application and RFP will be released in June or early Q3 2024. You may review the region’s READI 1.0 RFP and application in preparation for the READI 2.0 local project application.

If you are looking for information on the LEI Redevelopment & Arts Initiative, please click here. You will find IEDC’s FAQs and IEDC application materials there. All LEI funding requests must be made via the region. 

If you have a specific question that was not answered on any of our webpages, please contact the READI team through the form below.

TIMELINE

READi 2.0

October 13, 2023

FAQs posted publicly.

September 2023 – February 2024

Regions develop their funding applications; IEDC visits each participating region to see READI 1.0 investments and discuss future vision and strategy.

February 16, 2024

Regional applications due to IEDC. Click here to see the South Bend - Elkhart region's application.

April 2024

The South Bend - Elkhart region was awarded $45 million in READI 2.0 funds.

May 2024

IEDC will begin coordination with regions in identifying regionally significant capital and infrastructure projects for investment.

June - July 2024

The regional project application process will start.

Q3 2024

The RDA will begin the review process of eligible applications.

Q4 2024

The RDA anticipates making initial READI 2.0 awards.

 

READI 2.0 FAQS

  • How do I apply for READI funding?
    The application / RFP has not yet been released. We anticipate releasing it in early Q3. Please review the READI 1.0 RFP from 2022 to prepare.
  • How much of my project will READI fund?
    The maximum amount any single project can request is up to 20% of the total project cost. For example, a $1 million project can request up to $200,000. The project must cover the remaining cost.
  • How much public match must my project secure?
    Projects should aim for 1:1 ratio of READI funding to public funding. A $1 million project should aim to secure $200,000 in public funding, for example.
  • Can I retroactively count match funding for my project?
    Generally, match funding secured in 2024 will count within the project’s proposed scope and budget. In some cases, match funding from 2023 may also be eligible, depending on when it was secured.
  • What is the “start date” of READI eligible costs?
    The start date for any potential READI eligible expenditure is February 16, 2024.
  • If my project is awarded funds, how soon would I receive those funds?
    The READI grant is reimbursement-based. Thus, a project will be able to draw down its READI grant award only when it has already incurred eligible expenses. A project will need to demonstrate that it has properly spent the READI funds according to state procurement guidelines.
  • Is there a deadline for having spent all READI award funding and finishing the project?
    All READI eligible spending within the project must occur by December 2028. Projects should commence no later than 2026 and should be completed by December 2028.

 

UPDATES

04.11.24 - South Bend - Elkhart region awarded $45M in READI 2.0 funds

On April 11, the Indiana Economic Development Corp. (IEDC) awarded the South Bend – Elkhart region $45 million in READI 2.0 funds. The region was one of six awarded $45 million with other awards ranging from $10 million to $35 million.

Click here to view the press release.

02.16.24 - READI 2.0 Application Submitted

On Friday, February 16, the NIRDA submitted its application for READI 2.0 funds to the IEDC on behalf of the South Bend – Elkhart region.
The request was for the maximum allotment of $75 million. The South Bend - Elkhart regional plan focuses on talent attraction and retention, housing, infrastructure, entrepreneurship and innovation, work based-learning, and post-secondary education, with a projected impact of $2 billion in direct economic activity over the next six years for the region.

The IEDC is expected to announce regional recipients in April.

Click here to view the Executive Summary.

11.30.23 - Ramp Up READI 2.0 Workshops

On November 30, 2023, the final workshop to inform the direction of the region's application for READI 2.0 concluded. Throughout the 6 workshops in Plymouth, Goshen, Elkhart, Bremen, Mishawaka, and South Bend, nearly 200 attended, contributing time, energy, and insight, which we are now utilizing to inform the development of the region's application submission to the state.

Here were some of the item's attendees said they want to see developed in the next 5-10 years:

  • Walkability and Trail Connections 
  • Affordable Housing 
  • Childcare 
  • Concert and Entertainment Venues
  • Small Business Incubator / Entrepreneurship 

10.23.23 - READI 2.0 Steering Committee

On October 23rd , 2023, The Steering Committee formed to add input to the READI 2.0 submission process was formed and met for the first of three sessions. For READI 2.0, the members will assist the development of the application by providing a high-level perspective on the development of the application prior to its submission.

Members include:

  • Dallas Bergl, President & CEO, INOVA Federal Credit Union (NIRDA Vice Chair)
  • John DeSalle, Executive Engineer-in-Residence, iNDustry Labs at the University of Notre Dame (NIRDA Chair)
  • Susan Ford, Partner, Graham Allen Partners
  • Greg Hildebrand, President/CEO, Marshall County Economic Development Corp.
  • Levon Johnson, President/CEO, Greater Elkhart Chamber
  • Pete McCown, President, Community Foundation of Elkhart County (NIRDA Member)
  • Rose Meissner, President, Community Foundation of St. Joseph County
  • Kristin Pruitt, President, Lake City Bank (NIRDA Secretary-Treasurer)
  • Jeff Rea, President & CEO, South Bend Regional Chamber
  • Tim Sexton, Associate Vice President for Public Affairs, University of Notre Dame, (NIRDA Member)
  • Chris Stager, President/CEO, Economic Development Corporation of Elkhart County
  • James Turnwald, Executive Director, Michiana Area Council of Governments
  • Linda Yoder, Executive Director, Marshall County Community Foundation

10.15.23 - Ramp Up READI 2.0 Workshop Series

The South Bend Elkhart - Regional Partnership is excited to invite you to be part of the input process for our region’s application for READI 2.0 funding from the Indiana Economic Development Corp. The region’s application is due 2/16/2024. IEDC anticipates announcing regional awards in Q2 2024.

The READI program funds capital projects in service of talent attraction and retention for the region. Past projects include investments in Wellfield Botanic Gardens in Elkhart, Portage Place project in South Bend, and the Marshall County Career Innovation Center.

Please register to attend one of six identical workshops across the region in November. These working sessions will cover:

  • READI 2.0 overview
  • Stakeholder input into the region’s 1-, 5-, and 10-year vision
  • Next steps in the region’s application for funding

Who should attend: municipal partners, developers, entrepreneurs, residents, and those with a passion for our region’s prosperity. The event is free and all are welcome.