Talent’s Hometown Program Focuses on Housing Gap
Southern Indiana (August 11, 2022) – Nearly 400 new homes are being planned across southwest Indiana, to address the gap in quality workforce housing. The Indiana First region, recognizing a critical need for additional housing in all counties throughout the area, will focus much of its READI grant award on the “Talent’s Hometown” program. This initiative will support multiple public infrastructure projects in each county, opening additional development opportunities for residential builders.
“The shortage of quality, affordable housing in our region is among the greatest challenges to economic growth,” said Darrell Voelker, Indiana First committee member, and Director of Harrison County Economic Development Corp. “The Indiana First region intends to maximize our efforts to address these gaps.”
Upon completion of the initial round of READI funding, awarded by the Indiana Economic Development Corporation, the Indiana First region anticipates an increase of more than 205 single family homes, and at least 85 multi-family residential units across the five-county area. These new residential developments, in Harrison, Knox, Perry, Pike, and Spencer Counties are made possible through $7.1 million in READI grants for public infrastructure projects. As a result, this state funding will leverage more than $109 million in private capital investments, and nearly $39 million in local matching funds.
“The addition of homes within Spencer County, is absolutely essential to our economic growth and our ability to retain and attract a skilled workforce,” said Heidi Young, Indiana First committee member, and Executive Director of Spencer County Economic Development Corp.
In addition to public infrastructure for housing, other projects from the Indiana First regional plan are being considered for funding, with approvals anticipated in the coming weeks.
About Indiana First
The Indiana First READI Region includes Harrison, Knox, Perry, Pike, and Spencer Counties in southwest Indiana. The region was awarded $15 million from the state’s READI program, intended to accelerate projects that will enhance the area’s quality of life, and increase competitiveness for economic growth.
About READI
Indiana’s nationally recognized Regional Economic Acceleration and Development Initiative (READI), administered by the Indiana Economic Development Corp., allocated $500 million in initial funding for projects which will improve the quality of place, and quality of opportunity, in communities throughout the state. It also encourages a new level of regional collaboration that bring mutual stakeholders together to determine for themselves the future of their communities.