READI 2.0 projects take shape in southwest Indiana with apartments, retail, restaurants and trails

EVANSVILLE, Ind. (Aug. 27, 2024) – Local and regional leaders in southwest Indiana are celebrating the region’s first READI 2.0 project today, moving forward with plans to create The Dominion – a new mixed-use development in western Warrick County. The project will receive funding from Indiana’s Regional Economic Acceleration and Development Initiative (READI), furthering strategic community development and talent attraction efforts in the greater Evansville area. 

Governor Eric J. Holcomb established the now $1.25 billion READI program in 2021, and it has since been nationally recognized for its success. READI 2.0, which was part of the governor’s 2023 Next Level Agenda and approved by the Indiana General Assembly, allocates another $500 million to regions across the state to accelerate shovel-ready projects and programs that are expected to transform Indiana communities, attract talent and improve quality of life for Hoosiers in the short and long term. READI 2.0 funding allocations were awarded in April to 15 regions representing all 92 Indiana counties. 

“Indiana, in partnership with our regions statewide, is making unprecedented investments in our local communities to improve the lives of Hoosiers today and tomorrow,” said Gov. Holcomb. “In southwest Indiana, READI is creating new, centrally located community destinations that add modern opportunities to live, work study play and stay. I’m confident the impacts of The Dominion and of READI 1.0 and 2.0 will create lasting positive changes in Warrick County, making southwest Indiana a premier high quality of place for business, talent and families to grow for generations to come.”

In southwest Indiana, the $71.5 million Dominion development (including a $5 million READI 2.0 allocation) will be constructed at the intersection of State Road 66 and Grim Road, located along the Warrick Wellness Trail and near the upcoming Ohio Township Park. The first phase of the mixed-use development will feature 150 contemporary market-rate apartments with various amenities, including garage parking; a five-story commercial building with ground-floor restaurant and retail spaces, and an outdoor community area linked to the Warrick Wellness Trail, offering a space for community events and activities, increasing housing, community development and access to recreation in the Southwest Indiana region. 

Phase one of The Dominion is set to begin in September 2025 with an estimated completion in summer 2027. Once complete, phase two of the project will bring additional residential units, a hotel as well as increased restaurant and retail space. 

“The Dominion builds on the momentum started with Ohio Township Park, a READI 1.0 project, and the investment Warrick County has made in the Wellness Trail,” said RDA President Beth McFadin Higgins. “This development will connect new residents to employment opportunities, recreational amenities, shopping, and dining.”

READI 1.0 has awarded $487 million to 353 unique projects and programs across the state, yielding $12.6 billion invested (26:1 investment leverage ratio) in quality of life, quality of place and quality of opportunity initiatives. READI 2.0, which secured additional funding awarded by the Lilly Endowment Inc., is allocating another $750 million to accelerate community development investments statewide. This funding is expected to attract a minimum 4:1 match of local public and private funding, yielding at least $3 billion invested to increase the vibrancy and prosperity of Hoosier communities.  

Warrick County is part of the READI Southwest Indiana region – led by the Southwest Indiana RDA – that was awarded $95 million in READI 1.0 and READI 2.0 matching funds to support quality of life, quality of place and quality of opportunity projects across Gibson, Posey, Vanderburgh and Warrick counties. The region’s READI investments, including The Dominion, are designed to foster population growth and upward mobility by connecting the region’s riverfront with inspiring public amenities, attractions and housing; grow high-paying jobs; improve quality of place for healthier residents; build housing near employment clusters; and capitalize on the I-69 Ohio River Crossing to create new regional opportunities. 

Learn more at IndianaREADI.com.

About IEDC
The Indiana Economic Development Corporation (IEDC) is charged with growing the State economy, driving economic development, and helping businesses launch, grow and locate in the state. Governed by a 14-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit iedc.in.gov.

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Media Contact: 
Nathan Brown (IEDC) – 317.586.1096 or nabrown1@iedc.in.gov