Economic and Business Development
Regional Economic Acceleration & Development Initiative
The Indiana Economic Development Corporation (IEDC) launched the Regional Economic Acceleration & Development Initiative (READI) in 2021 awarding $500 million to 17 regions across the state encompassing all 92 counties. More than 410 projects have been approved across focus areas and goals such as but not limited to quality of life, opportunity and place, family support initiatives, and infrastructure for jobs, etc. To examine the economic and community impacts of this initiative, PCRD is partnering with the Indiana University Public Policy Institute.
This Five-Year Project Will Consist of the Following Components
Identify and Monitor Indicators
Identify and monitor indicators at the county level and aggregated to the regional level and monitored annually starting in 2022 through 2027. Most of these indicators will be obtained from public and proprietary sources.
Develop Regional Dashboards
Develop regional dashboards that showcase impacts and/or trends over time. These dashboards may include macro indicators, survey results, and findings from other analyses.
Economic Impact Analysis
Conduct multi-regional project economic impact analysis of READI projects. These impact analyses may be aggregated at the state level accounting for spillovers.
July 2024
Scope: Includes all READI 1.0 projects recorded in IEDC’s database as of April 1, 2024. The dataset covers 388 projects with approximately $470 million in READI grant awards.
Analysis Method: Utilizes the IMPLAN economic model. Figures reflect one-time effects based on approved project budgets, not actual expenditures.
Deliverables:
- One comprehensive report (PDF 18 MB)
- 18 infographics (PDF 8 MB): one for each of the 17 READI Regions plus a statewide summary for Indiana.
- Containing region-specific estimated impact results
February 2025
Scope: Statewide economic effects of local funds supporting READI 1.0 grants. These grants leverage additional public, private and philanthropic contributions totaling about $11.8 billion in committed investments.
Analysis Method: Utilizes the IMPLAN economic model. Figures reflect one-time effects based on detailed budget distribution for local funds (including public, private and philanthropic sources) supporting 24 selected READI 1.0 grants projects, representing approximately $1.6 billion in total committed investments.
Deliverables:
- One comprehensive report (PDF 1 MB)
- One-page infographic (PDF 644 KB) containing estimated impact results normalized to $1 million invested
April 2025
Scope: Includes only READI 1.0 projects in IEDC’s database that have commenced and received funds disbursements as of March 15, 2025. This subset covers 357 out of 388 projects, representing around $269 million in READI grant awards.
Analysis Method: Utilizes the IMPLAN economic model. Figures represent one-time effects based on disbursed project budgets, not projected or approved amounts.
Deliverables:
- One comprehensive report (PDF 3 MB)
- 18 infographics (PDF 9 MB): one for each of the 17 READI Regions plus a statewide summary for Indiana.
- Containing region-specific estimated impact results, select macroindicator baselines, and wellbeing and placemaking survey results
March 2026
Scope: Includes READI 1.0 projects that had started and spent state grant funds as of January 6, 2026, based on records from the Indiana Economic Development Corporation (IEDC). The analysis covers 405 projects statewide, representing about $389 million in READI 1.0 state funds already disbursed, or roughly 81% of total READI 1.0 funding.
Analysis Method: Uses the IMPLAN economic model to estimate the one-time economic impacts of READI 1.0 funds that have actually been spent. Results reflect real expenditures rather than approved or future budgets and include direct, indirect, and induced impacts. The analysis does not include future project phases, ongoing operations, or visitor spending.
Deliverables:
- One comprehensive report (PDF 2 MB)
- 18 infographics (PDF 8 MB): one for each of the 17 READI Regions plus a statewide summary for Indiana.
- Containing region-specific estimated impact results
Migration and Visitor’s Impact Analysis
Conduct some migration and visitor’s impact analysis by utilizing a proprietary tool.
- Impact Analysis – Dubois County Park (PDF 3 MB)
- Impact Analysis – Gas City Performing Arts Center (PDF 1.8 MB)
- Impact Analysis – Huntingburg Alley Activation (PDF 2.9 MB)
- Impact Analysis – The Mill (PDF 4.2 MB)
- Impact Analysis – Versailles Pocket Park (PDF 2.7 MB)
- Impact Analysis – NexusPark (PDF 3 MB)
- Impact Analysis – Stone Eater Bike Park (PDF 1 MB)
- Impact Analysis – Sunnyside Park (PDF 2 MB)
- Impact Analysis – Tell City Sports Complex (PDF 2 MB)
- Impact Analysis – West Baden Park and Orange County Mural Trail (PDF 2 MB)
- Impact Analysis – Wilbur Wright Trail Phase 3 (PDF 1 MB)
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Migration Reports – All 17 Regions (PDF 2 MB)
- Migration Report – 180 Alliance Region (PDF 127 KB)
- Migration Report – 70-40 Mt. Comfort Region (PDF 120 KB)
- Migration Report – Accelerate Rural Indiana Region (PDF 123 KB)
- Migration Report – East Central Region (PDF 127 KB)
- Migration Report – Greater Lafayette Region (PDF 127 KB)
- Migration Report – Indiana First Region (PDF 133 KB)
- Migration Report – Indiana Uplands Region (PDF 131 KB)
- Migration Report – North Central Region (PDF 125 KB)
- Migration Report – Northeast Region (PDF 129 KB)
- Migration Report – Northwest Region (PDF 129 KB)
- Migration Report – Our Southern Indiana Region (PDF 128 KB)
- Migration Report – South Bend Elkhart Region (PDF 121 KB)
- Migration Report – South Central Region (PDF 125 KB)
- Migration Report – Southeast Region (PDF 127 KB)
- Migration Report – Southwest Region (PDF 129 KB)
- Migration Report – Wabash River Region (PDF 128 KB)
- Migration Report – White River Region (PDF 121 KB)
Regional Surveys
Conduct regional surveys to document sense of belonging and community pride.
- Wellbeing Survey – Technical Report (PowerPoint 569 KB)
Hedonic Modeling
Hedonic model for housing prices will be developed which will include a “difference-in-difference” approach.
Utilize REMI Software
Utilize REMI software to parse out impact of READI on different demographic groups in specific regions as well as capturing READI specific regional impacts. Due to cost and data limitations, up to 5 regions can be analyzed per year.
- Summary Infographic: Regional Economic Impact Analysis of the United States Cold Storage (USCS) (PDF 1 MB)
- Summary Infographic: Regional Economic Impact Analysis of the READI-funded Affordable Housing Projects in Wabash River RDA, Indiana (PDF 581 KB)
- Confidential analysis of regional economic impacts of 281 READI 1.0 projects.
Governance and Network Analysis
Conduct governance and network analysis to understand the regional coalition’s evolution and impact.
- Networks Survey – Technical Report (PowerPoint 855 KB)
Final Report and Storytelling
Final report and storytelling for all 17 regions (one story per region) and statewide in year 5.
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