The Indiana Economic Development Corporation has announced a $250 million grant from the Lilly Endowment to bolster quality-of-place efforts across the state.

The single largest award in the endowment’s 86-year history will be administered in conjunction with the Regional Economic Acceleration and Development Initiative (READI), launched in 2021 by Governor Eric J. Holcomb in partnership with the Indiana General Assembly to advance quality of life, quality of place, and quality of opportunities. The grant, which will support projects across 15 regions, includes $185 million toward the redevelopment or rehabilitation of deteriorated or abandoned properties to simultaneously address community needs and bring new life to communities, such as by rehabbing historic structures, repurposing closed industrial plants to create community spaces or mixed-use developments, or demolishing vacant single-family homes to construct new affordable housing.

Approximately $65 million will support a statewide arts and culture initiative to advance regional creative transformation by investing in public art and cultural amenities. In addition, the funding will be used to provide technical assistance and professional development opportunities for local and regional leaders in each of the focus areas.

“As a state, Indiana is investing in its neighborhoods, its people, and its future like never before,” said Holcomb. “This unprecedented investment from Lilly Endowment is a testament to the incredible enthusiasm and momentum we are witnessing across the state as we collaborate to advance quality of life and increase opportunities for all Hoosiers to succeed and prosper now and in the future.”

“Lilly Endowment’s founders cared deeply about the state of Indiana and its residents, and throughout its history the endowment has regularly focused a significant portion of its grantmaking on improving the quality of life in Indiana communities. It has done this through grants and allocations of over $800 million since 1990 in its GIFT initiative for Indiana community foundations, its substantial support for United Ways through periodic grants to Indiana United Ways, its support of six regional initiatives around the state totaling over $200 million and its long-standing support of all of Indiana’s colleges and universities, including its recently announced grants to six Indiana colleges and universities under the first round of its College and Community Collaboration initiative,” said Lilly Endowment chairman and CEO N. Clay Robbins. “Given the success and momentum of READI and the state’s continued investment in READI 2.0., the endowment considered this grant proposal as a compelling opportunity to build on its efforts to help promote the prosperity of Indiana communities.”

(Photo credit: Getty Images/Sean Pavone)