The White River Regional Opportunity Initiative (WR-ROI) was recently awarded $20 million from Governor Eric J. Holcomb and the Indiana Economic Development Corporation as part of the Indiana Regional Economic Acceleration and Development Initiative (READI).
The WR-ROI region is made up of three Central Indiana counties – Hamilton, Madison, and Marion – as well as Zionsville in Boone County, and McCordsville in Hancock County. The proposal detailed a cohesive regional vision, goals, and projects or programs related to economic development within the White River Region.
Jensen
“The READI program helps invest in quality of life initiatives and train our workforce to move toward a stronger Central Indiana region,” said Noblesville Mayor Chris Jensen. “We are grateful to the IEDC and Governor Holcomb on making these regional investments a priority. These efforts help us tell Indiana’s success story to the nation and beyond.”
The total investment of the WR-ROI totaled $591 million and included $148 million in local public match from local governments, parks and tourism agencies, planning entities, bonds, and TIF allocations; and $313 million in private match from developers and private equity, corporate sponsors, and philanthropies.
The WR-ROI received $20 million of its $49.9 million request. Mayors, city leaders and major stakeholders will meet in early 2022 to discuss projects and allocate READI Grant funding for the region.
The WR-ROI communities came together to seize this opportunity to invest in this vital Central Indiana region. The WR-ROI serves as a job center and economic hub for the state. The Regional Development Plan for the White River Regional Opportunity Initiative represents a transformational opportunity to further accelerate population growth, talent attraction and retention, and smart economic development in the region.
“The Central Indiana community works best when we work together,” said Indianapolis Mayor Joe Hogsett. “This funding will provide another valuable opportunity to achieve our shared vision for continued growth and development and can ultimately transform our region.”
Home to almost 1.5 million people, the WR-ROI Region has grown significantly over the past 10 years, gaining 10 percent population from 2010 to 2020 (compared to Indiana’s 4.2 percent). The WR-ROI seeks to continue that trend, while making appropriate investments in physical and social infrastructure to ensure residents have what they need to thrive and developing the White River into a world-class attraction that serves Hoosiers and tourists alike for generations to come. This includes enhancing quality of place, quality of life and wellbeing, environmental health, and sustainability; boosting support for business, entrepreneurship, and innovation activity; training and education initiatives to prepare the workforce for future economic trends; and equitable development projects that ensure the WR-ROI Region is an attractive place where all residents benefit from growing economic opportunity in the coming decades.
Fadness
“This plan was a true representation of what can happen when we see ourselves as one region and bring our collective assets to the table,” remarked Fishers Mayor Scott Fadness. “The White River is one of our best, but underutilized, assets of our metro. I’m encouraged that the selection committee saw the value the Indianapolis Region brings to our state and the impact we can make on the state’s economic, talent, and quality of life efforts.”
The IEDC awarded $500 million to support regional development plans across 17 regions representing all 92 counties. The competitive process requests tripled the allocated $500 million READI budget, as submissions amounted to more than $1.5 billion and detailed nearly 800 projects and programs with a potential investment of $15.2 billion. The regional redevelopment plans included housing, trails, broadband, childcare and wellness initiatives, workforce development programs, and telling Indiana’s story to the world. The plans enumerated a nearly 10-to-1 capitalization leverage ratio from private and public sources as compared to state investment.
“This is government at its best – bringing communities together with the common goal of advancing our state,” said Zionsville Mayor Emily Styron. “I am excited about the outcomes here in Zionsville and the forward momentum with the Zionsville Gateway Plan.”
For more information on the WR-ROI READI Grant, visit mywhiteriver.com/readi.
About the White River ROI
The White River Regional Opportunity Initiative (WR-ROI) Partnership consists of representatives from three counties – Hamilton, Madison, and Marion – and eight communities: Anderson, Carmel, Fishers, Indianapolis, McCordsville, Noblesville, Westfield, and Zionsville within a total of five counties (Boone, Hamilton, Hancock, Madison, and Marion). The White River ROI shares cohesive regional vision, goals, projects and programs related to economic development within the White River Region.