Putnam set to align with Hendricks for READI program

Central Indiana or West Central Indiana?

With the state set to give $50 million each to 10 different regions throughout the state, Putnam County is trying to figure out where it belongs if it wants to be a part of the program.

Through the recently-launched Regional Economic Acceleration and Development Initiative (READI) the Indiana Economic Development Corp. will dedicate $500 million in state appropriations to promote strategic investments “that will make Indiana a magnet for talent and economic growth.”

The idea is to encourage neighboring counties, cities and towns to partner to create a shared vision for their future. This includes mapping out programs, initiatives and projects to retain talent and attract the workforce of the future.

However, the $500 million in total state funds is only one piece of the puzzle. The state wants READI projects — which are supposed to advance quality of place, quality of life and quality of opportunity — to use only 20 percent state funding, alongside 20 percent local government funding and 80 percent private investment.

There will be more time to determine these details later on.

For now, localities face a July 1 deadline of how to align themselves.

Putnam County is often put in a region centered on Terre Haute and Vigo County that also includes Vermillion, Parke, Clay and Sullivan counties.

However, Vigo County is already in a regional development authority with Sullivan and Knox counties, making a partnership with Putnam County seem less natural.

Vermillion, Parke and Clay were also recently invited to join this RDA. Putnam County was then also asked.

“Why are we wanting to go into an RDA with Vigo, Sullivan and Knox?” Putnam County Commissioner Rick Woodall asked. “How do they have our best interest in mind?”

Then a rival proposal came in from Hendricks County, which is in an RDA with Morgan County.

Hendricks County has often been lumped in with Marion County and the other “donut” counties in such matters, but officials there want to form something focused on the western suburbs.

With this in mind, Hendricks County officials have been exploring a partnership with Boone, Morgan and Putnam for the purposes of the READI program.

While it is unclear if Boone and Morgan will join, Putnam County has now hitched its wagon to Hendricks, with the Commissioners on Monday approving a resolution to take part.

“The whole concept is, we usually go with Terre Haute on regional stuff,” Greencastle/Putnam County Economic Development Director Kristin Clary said, “but this time we’re going east because it makes more sense from a commuter standpoint.”

Once the membership of the region is set, proposals for the READI grant will be due by Aug. 1.