Six projects slated for Regional Economic Acceleration and Development Initiative (READI) Grants
FORT WAYNE, Ind. — The Northeast Indiana Regional Development Authority (“RDA”) has approved $18 million in new Regional Economic Acceleration and Development Initiative (“READI”) grants for six innovative projects.
At the end of 2021, the Northeast Indiana Regional Development Authority (RDA) was awarded $50 million to invest in regionally catalytic projects through the State of Indiana’s READI program, administered by the Indiana Economic Development Corporation. This latest award accounts for more than 35% of the region’s available READI funds.
“The Northeast region is a rapidly evolving area of the state,” said Vincent Ash, vice president of development at the Indiana Economic Development Corporation. “This latest round of funding is key in helping beautify the area, increase quality of life and, importantly, ensure residents have more opportunities. These six projects are great examples of exactly why I’m so thrilled by where READI funding is going.”
The $18 million in investments has been approved for six unique regional projects.
The Northeast Indiana Regional Partnership, a leading regional economic development organization in Indiana, provides executive leadership for the RDA. “Northeast Indiana is a hub of innovation and development. These new grants will fund everything from an airport expansion and technical upgrades to affordable housing. This is just the beginning of the growth we have planned for our community,” said NEIRP CEO, Stéphane Frijia.
The six projects, approved in Allen, Huntington, Noble, and Wabash counties, are:
- $3 million for the expansion of the Fort Wayne International Airport, which will increase terminal square footage, provide access to larger aircrafts, and upgrade the mechanical system, including air filtration.
- $6 million for Riverfront Phase II, a recreational project that will expand Promenade Park in downtown Fort Wayne by adding boat docks, a bouldering mound, walking trails, a hammock grove, and more.
- $6 million for Village Premier, a housing project in southeast Fort Wayne that will ultimately promote more than 275 affordable entry level workforce housing units and create “a vibrant, walkable neighborhood.”
- $2.44 million for Legacy Heights, a 52-unit workforce housing development in Wabash.
- $198,450 for Industry 4.0/iSmart Factory Lab, a robotics lab in Kendallville that will train high school students and adults at the Community Learning Center.
- $249,000 for Rivergreen Housing, a 48-unit apartment complex renovation project by Biggs Development.
This new grant follows expansion throughout the region, including Fort Wayne’s Electric Works, a 1.2 million square foot technology and innovation campus. NEIRP is excited to play a key role in these major development projects, which will increase vibrancy, support entrepreneurship, and foster community in Northeast Indiana.
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