INDIANAPOLIS (Sept. 25, 2025) – The Indiana Economic Development Corporation (IEDC) board of directors approved 17 projects yesterday that represent the first $131 million investment from the $250 million Lilly Endowment Inc. award to support READI projects that will enhance efforts to improve quality of place and life in communities across Indiana.
These projects will transform vacant and blighted properties into productive assets—housing, commercial districts, community hubs—while leveraging private and local investment through the state’s Regional Economic Acceleration and Development Initiative (READI 2.0). Together, they unlock more than $1.6 billion in total investment across 12 regions.
Projects were selected based on their potential for economic impact, community benefit, local match, scale, and creativity. Future projects will continue to include diverse uses such as infill housing, brownfield redevelopment, office-to-residential conversions, and district creation for both rural and urban communities.
Governor Mike Braun said:
“Indiana’s greatest strength is its people, and READI is proof that when communities lead, real transformation follows. These Lilly Endowment investments are not just cleaning up blight—they’re opening doors to new housing, jobs, and opportunities that will keep more Hoosiers living and thriving here at home. We’re building on what works: region-owned growth, supported by the state, to create lasting impact for every corner of Indiana.”
David Adams, Indiana Secretary of Commerce, said: “Aligning Indiana’s economic development with our 15 READI regions was the first step toward Governor Braun’s vision: amplifying prosperity and quality of life across all 92 counties. These Lilly Endowment project awards show what happens when regions lead, the state supports, and people are the plan. The result is stronger communities and renewed opportunity for Hoosiers.” A full listing of approved projects can be found at IndianaREADI.com.
What Communities Are Saying: Evansville | Southwest Indiana
“The Crawford Door project is important in many ways. Creating new homes for our citizens, of course, but beyond that the preservation of the historic and cultural legacy of the building and its connection to Bosse Field and Garvin Park is unique within the region and state. This project is part of the ongoing recreation of the Jacobsville neighborhood and will attract continued investment in the immediate area. We couldn’t be more excited to see the project progress.”
— Josh Armstrong, Chief Economic Development Officer, Evansville Regional Partnership
Gary | Northwest Indiana
“The READI investment in the Gary Blight Elimination Initiative marks a turning point for our city. This effort tackles long-standing challenges while opening the door to new opportunities for revitalization and economic growth. It reflects our shared regional commitment to not only strengthen Gary, but to build a safer, stronger, and more vibrant Northwest Indiana. We’re grateful for this partnership and excited about the lasting impact it will bring to our community.”
— Mayor Eddie Melton, City of Gary
Our Southern Indiana
“The Jeffboat redevelopment transforms a storied industrial riverfront into a place where people can live, work, and gather — and that’s the kind of catalytic growth READI dollars are designed to unlock. With state partnership through the IEDC, regional collaboration, and private investment all aligned, this project proves that even the most complex sites can become lasting community assets when the right team and vision come together.”
— Dana Huber, Regional Development Authority Chair Accelerate Rural Indiana
“We’re extremely excited at the Board’s approval for the ‘Rural Schools Reimagined’ projects and thank both the Lilly Endowment and the IEDC/READI program for providing this opportunity for the Accelerate Rural Indiana Region to unlock the potential of these blighted properties in our communities. What were once slowly deteriorating abandoned schools will now again serve the residents as childcare facilities, multifamily housing, townhomes, a business incubator, and furnished long-term rental space— all thanks to an ideal example of a public/private partnership. We appreciate the confidence placed in the region and are ready to hit the ground running.”
— Bryan Robbins, Executive Director, Economic Development Corporation of Greensburg/Decatur County
About the Office of Commerce The State of Indiana’s Office of Commerce was created by Governor Mike Braun to align and accelerate the state’s economic development efforts and is led by Indiana Secretary of Commerce David J. Adams. |
