Indiana Uplands allocates READI funding to support Indiana University’s $111M investment in resilient microchips

BLOOMINGTON, Ind. (Nov. 7, 2024) – The Indiana Uplands READI steering committee and Regional Opportunity Initiatives (ROI) today announced the allocation of READI 2.0 funding to advance Indiana University’s microelectronics research and development capabilities, enabling the development of resilient microchips and supporting the growth of the microelectronics sector in the region and across Indiana.  

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’s future-focused sectors are growing like never before, thanks to a concerted and collaborative effort across government, industry and academia,” said Gov. Holcomb. “Indiana University’s unprecedented investment in microelectronics will power R&D, industry and defense applications and talent development for this critical sector, bolstering Indiana’s microelectronics leadership and supporting U.S. innovation and national security for years to come.”   

Indiana University (IU) will invest at least $111 million (including a $4 million READI 2.0 allocation) in microelectronics over the next several years, marking one of the largest commitments made by a university to high-tech industry and national defense. The READI 2.0 award will fund equipment for the IU ME Core Facility associated with the IU Center for Reliable and Trusted Electronics, known as IU CREATE. The facility will serve as a hub for designing and testing radiation-hardened microelectronics for space, automotive and power applications while also training students to meet the critical talent needs of industry and government partners.  

“Indiana University is deeply committed to accelerating Indiana’s progress in building the state’s microelectronics industry,” IU President Pamela Whitten said. “This generous READI 2.0 grant will support IU’s major investments in this area, push the boundaries of research on high-reliability microelectronics, and ensure IU is well-positioned to support the country’s mission to reassert our leadership in microelectronics.” 

READI funds will be used to acquire specialized equipment, including optical lasers for microelectronics characterization, high-performance computing tools for microelectronics modeling and simulation, and tools to support advanced packaging applications. This new equipment will shorten the chip development process and expand the suite of tools available for use by industry partners in radiation-hardened microelectronics and advanced packaging, two key technology areas for Indiana microelectronics companies in the region and state.  

“This READI 2.0 funding award to Indiana University reinforces our vision for the Indiana Uplands as an innovation center, leveraging advanced technologies in key employment sectors to drive growth,” Tina Peterson, president and CEO of ROI, said. “This investment not only accelerates cutting-edge research but also positions the Indiana Uplands as a key player in national efforts to advance microchip technology and strengthens our region’s capacity to develop, retain and attract in-demand talent.”  

IU’s investment in microelectronics will further the state’s quickly growing sector. Indiana has made a strategic effort to grow its semiconductor industry, launching the AMPD Task Force in 2022 to create a competitive environment and help companies start and locate in Indiana. Since then, the state has attracted seven new semiconductor companies, secured a federal tech hub designation for microelectronics, and broke ground on a new, 10-acre public-private microelectronics hub – WestGate One – in the Indiana Uplands region. Indiana was also selected to host SEMIEXPO In The Heartland – the first event of its kind to be hosted in the U.S. Midwest – in April 2025.  

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.  

Bloomington is part of the 10-county Indiana Uplands READI managed by ROI and a regional steering committee that was awarded $60 million in READI 1.0 and 2.0 matching funds to grow the region’s capacity as a national hub for innovation; develop and attract in-demand talent; advance housing, infrastructure and place-based assets; and enhance the region’s unique cultural, artistic, physical and livable amenities.  

Learn more at IndianaREADI.com.

PHOTO:Courtesy of IU Create

About Regional Opportunity Initiatives 
Regional Opportunity Initiatives is a nonprofit organization with a mission to advance economic and community prosperity in the 11 counties of the Indiana Uplands (Brown, Crawford, Daviess, Dubois, Greene, Lawrence, Martin, Monroe, Orange, Owen and Washington counties). The organization is growing potential and possibility through a focus on advanced industry sectors, regionalism, transformative school and workforce redesign, and placemaking strategies. To learn more about Regional Opportunity Initiatives programs, visit https://regionalopportunityinc.org/. 

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.

- 30 -

Media Contacts: 
Betsy Trotzke (ROI) – 812.287.8116 or betsytrotzke@regionalopportunityinc.org
Nathan Brown (IEDC) – 317.586.1096 or nabrown1@iedc.in.gov

Continue Receiving IEDC News:
Please note that we will soon send press releases and advisories from a new email address. Beginning in November, all news will come from press@news.iedc.in.gov. To ensure you continue to receive messages from us, please add this to your safe sender list.