FRANKLIN, Ind. (Oct. 18, 2024) – TLocal and regional leaders in central Indiana today announced the allocation of READI 2.0 funding to support the development of the new Franklin Active Adult Center in Johnson County, marking the region’s first investment through READI 2.0. 

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 has something to offer everyone, from urban hubs to rural living to vibrant small towns,” said Indiana Secretary of Commerce David Rosenberg. “The state’s READI initiative is committed to investing alongside our local and regional partners to advance each and every community for the benefit of current and future generations. Because of READI 2.0, Hoosiers in Franklin and the surrounding central Indiana region will have access to a better quality of place, creating more opportunities to engage and connect.” 

In Franklin, the $5.75 million Active Adult Center development (including a $750,000 READI 2.0 allocation) will rebuild the city’s existing senior center at Payne Park. The new building will not only expand and modernize the space to better serve the needs of Franklin’s senior population, but it will create a new community space for residents of all ages to meet and socialize. The updated facility will support two new housing additions, a theater, an outdoor venue with a stage, large space for events, smaller spaces for various community groups to meet as well as increased parking, providing a safe and welcoming location for active adults and opportunities to attract residents and visitors for plays, music, weddings and other activities. 

Demolition of the existing facility was completed this summer, and construction is underway. The region expects the project to be complete by the end of August 2025. The project will add to the city’s vibrancy, breathing new life and opportunity into a deteriorating building that dated back to the 1800s, while creating new spaces for community connections. 

‘We are thrilled to enhance our service to the senior population and the entire community with this new facility,” said Franklin Mayor Steve Barnett. “It represents a significant commitment to improving quality of life and creating a vibrant environment that attracts and retains talent in a place where you can truly live, work, and play for a lifetime. Providing essential resources to elevate the community’s overall well-being is incredibly rewarding, and we extend our heartfelt gratitude to the IEDC for their invaluable support.

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. 

“Franklin is the type of thriving, energetic community that is the epitome of modern, small-town life,” said Jennifer Messer, executive director of the Central Indiana Regional Development Authority (CIRDA). “With the arts, hopping culinary scene and picturesque downtown village, the active adult center will provide residents yet another opportunity to build community and connect.”
 
Franklin is part of the central Indiana READI region – led by CIRDA – that was awarded $45 million in READI 2.0 matching funds to accelerate quality of place, quality of life and quality of opportunity initiatives across nine counties. The region is focused on promoting the development of walkable and connected living, innovation and recreational districts that serve as magnets for talent attraction and innovation and provide links to arts, culture and recreation. 

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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