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LAFAYETTE, Ind. — The Greater Lafayette Region announced Thursday that it received $35 million in funds from the State of Indiana’s second round of the READI program which will help fund projects within the seven-county region.
“Indiana is leading the way in future-focused investments in our economy and in our communities, ensuring that all Hoosiers of today and tomorrow have the opportunity to prosper,” Gov. Eric Holcomb said in Thursday’s announcement.
“READI has already resulted in more than $12.6 billion invested in quality of place and quality of life assets. The second iteration of the initiative – READI 2.0 – along with additional committed investments from the Lilly Endowment, will bring billions more to Hoosier neighborhoods, preparing communities, industry and talent for the next generation and beyond.”
The Greater Lafayette Region represents Montgomery, Fountain, Warren, Benton, White, Carroll, and Tippecanoe Counties, all of the region’s cities and towns, Purdue University, Wabash College, and Ivy Tech Lafayette.
In the first round of the READI program, the Greater Lafayette region received $30 million in funds which help fund a regional housing study, improve regional water infrastructure, sewage, sidewalks and broadband projects across the region, Purdue University Airport, and semiconductor workforce programs.
The Greater Lafayette Region’s recent announcement did not provide any specific details on how the funds will be used or what projects it will support, however in the region’s revised development plan emphasized the region’s need to increase the housing capacity, continued investment in quality-of-life projects and a need to invest in accessible childcare.
"The award of this grant is a testament to the hard work and dedication of our regional partners,” West Lafayette Mayor Erin Easter said.
“With this funding, we can accelerate our efforts to create a vibrant and prosperous Greater Lafayette Region. I am confident that together, we will build a brighter future for our residents and businesses."
The Greater Lafayette Region revised development plan highlighted how the average annual cost of infant care in Indiana is around $12,612. The plan also highlighted how the region is only able to provide 47% of the needed childcare to parents with children under the age of 6.
However, a majority of the childcare in the region is provided in Tippecanoe County, offering 5,497 out of the region’s 6,883 availability of childcare.
“Childcare is a key priority for the Greater Lafayette Region because access, affordability, staffing, and financial tensions remain a huge challenge,” the Greater Lafayette Region revised development plan states.
"The Greater Lafayette Region has long been a beacon of innovation and opportunity, and this grant award further solidifies our position as a leader in economic development,” Brenda Hardy, Fountain County Commissioner said in the announcement.
“I am proud to be part of a region that prioritizes collaboration and invests in the success of its communities. This funding will make a significant impact on our region's future."
In Tippecanoe County, it's well-known that the area is desperately in need of more housing, however, the Greater Lafayette Region development plan also showcases the need to develop more homes throughout the region.,
In the region, more than one in five housing units in the region were built after 1999 which slightly surpasses the state average, however, most of these homes were built in Tippecanoe County.
Compared to Tippecanoe, other parts of the region have seen a smaller percentage of housing units being built in the last two decades.
“For example, Benton County with 60% of their housing units built more than 60 years ago,” the report noted.
“Housing development is important for workforce attraction and affordability, and older housing requires renovations and is associated with issues, such as energy efficiency.”
The announcement highlights that the grant will support the creation of new housing stock in both rural and urban areas, specifically aiming to increase the housing stock by 10 percent over the next decade. This would require the region to add 13,230 units over the next 10 years or 1,323 units per year.
"This $35 million grant is a game-changer for the Greater Lafayette Region,” Crawfordsville Mayor Todd Barton said.
Noe Padilla is a reporter for the Journal & Courier. Email him at Npadilla@jconline.com and follow him on X at 1NoePadilla.
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