All IU campuses participating in statewide initiative for economic development

Indiana University plays a key role in the economic and intellectual future of the Hoosier state. One way we’ve contributed to Indiana’s economic development and the communities we serve is through the Regional Economic Acceleration and Development Initiative, or READI. The goal of this signature effort introduced by Gov. Eric Holcomb is to strengthen Indiana’s ability to attract and retain top talent and business in the state.

On Dec. 14, Gov. Holcomb and the Indiana Economic Development Corporation Board of Directors approved $500 million in state funding for 17 regions representing Indiana’s 92 counties. All seven IU campuses -- as well as our two regional academic centers and one of our medical education centers without a nearby IU campus -- are partnering with their local communities on a broad array of projects.

Every proposal IU participated in will receive some level of funding, but it's not yet clear how the money might be distributed across the projects in each proposal. Some of the IU-led projects that may receive state funding are:

• Establishment of the IU AI Accelerator, which will build on IU Bloomington’s Academic Accelerator program and Sports Innovation Initiative, and strengthen the university’s connections with NSWC Crane in AI and microelectronics.
• Support for the IU Center for Rural Engagement’s Placemaking Studio, which is enhancing public areas in communities across the state.
• The expansion of education, research, and clinical care in child psychiatry at IU School of Medicine-Evansville, which will improve adolescent mental health and quality of life in the region.  
• The renovation of facilities at IU South Bend to establish a new Simulation Lab and a new Innovation Center.

I’m proud of IU’s participation in this ambitious statewide project, which began over a year ago. IU leaders were among the first at the table with their areas’ regional economic development organizations. 

As Indiana’s largest public research university, IU is an economic engine for our state as well as a major talent generator and producer of tomorrow’s leaders. I am eager to see what the future holds as IU takes part in these initiatives across the state of Indiana.

Pamela Whitten

President
Indiana University