READI 1.0 Reaches 70% Spenddown Milestone, $20 Million in Blight Remediation Approved, and READI 2.0 Set to Launch
Portage, Ind., October 9, 2025 – Since 2020, the Northwest Indiana Forum has played a key role in securing $115 million in grant funding for Northwest Indiana through the state’s Regional Economic Acceleration and Development Initiative (READI). This includes $50 million from READI 1.0, $45 million from READI 2.0, and an additional $20 million in Lilly Endowment Inc. (LEI) funding. These investments are expected to leverage more than $2 billion in public and private co-investment across the region.
These funds are fueling 71 transformational projects across Northwest Indiana, spanning five priority areas: Talent, Infrastructure, Placemaking, Business Development & Marketing, and Entrepreneurship & Innovation.
READI 1.0 Generates Over $700 Million in Investment
The initial round of READI has already catalyzed over $700 million in total investment through 42 projects.
With the 70% spenddown milestone reached, the region can now activate READI 2.0 and LEI-funded initiatives. There is currently 1 approved project under READI 2.0, expected to generate over $4.4 million in additional regional investment.
The Northwest Indiana Forum, as the region’s lead organization for READI funding, coordinates applications, ensures compliance, and facilitates implementation in partnership with the Indiana Economic Development Corporation (IEDC). Serving all seven counties in the region, the Forum is uniquely positioned to align stakeholders, gather project proposals, and execute a unified regional vision.
$20 Million Approved for Blight Remediation and Community Transformation
As part of the first $131 million investment from the LEI’s $250 million statewide grant, the IEDC recently approved 17 projects aimed at enhancing quality of life and place across Indiana communities. Of these, two major projects are located in Northwest Indiana and will receive a combined $20 million:
· Singing Sands Suites – Michigan City: Awarded $5 million for a 300-unit, three-story mixed-use apartment complex adjacent to Trail Creek. Designed as workforce housing, the development will offer attainable rents for casino employees, veterans, and working families.
· Greater Gary Community Revitalization Effort – Gary: Awarded $15 million to revitalize the city’s Downtown Transit Development District (TDD), including demolition of blighted properties and neighborhood stabilization efforts. This project will create safer communities and attract new development.
These initiatives will help transform vacant or underutilized properties into housing, commercial spaces, and vibrant community hubs—strengthening neighborhoods and catalyzing long-term growth.
Future Focus: Resilient Growth
Looking ahead, READI 2.0 investments will continue to prioritize infrastructure and capital improvements. These strategic initiatives reflect Northwest Indiana’s long-term vision for vibrant, resilient, and inclusive communities.
“These projects exemplify the bold, forward-thinking investments needed to transform Northwest Indiana’s communities and economy,” said Heather Ennis, President and CEO of the Northwest Indiana Forum. “READI is helping us create places where people want to live, work, and invest. We’re proud to be part of this momentum.”
About READI
The READI (Regional Economic Acceleration and Development Initiative) program is a $1.25 billion statewide investment designed to accelerate shovel-ready projects that will improve quality of life, attract talent, and drive long-term economic growth. READI, which has been nationally recognized for its success, encourages regional collaboration and data-driven, long-term planning that will benefit current and future residents for generations to come.
About the Northwest Indiana Forum
The Northwest Indiana Forum is the regional economic development organization dedicated to business development, capital investment and strategic economic growth in harmony with the environment. With more than 160 investor organizations, the Forum is the voice of NWI business, markets NWI as the place to do business, and stakes out and drives bold initiatives. Funded by investor contributions and grants, an investment in the Northwest Indiana Forum translates to a direct investment in the 7-county region to support growth and economic innovation.