RICHMOND, Ind. (November 14, 2025)– The Economic Development Corporation (EDC) of Wayne County has been awarded $5.1 million through Indiana’s Regional Economic Acceleration and Development Initiative (READI) 2.0, a statewide program that empowers regions to implement locally led strategies for population growth, talent attraction, and economic vitality. Wayne County’s investment will focus on improving quality of place through new housing, neighborhood revitalization, and community development projects that support long-term regional growth.

The $5.1 million award is part of $185 million in READI 2.0 funding supported by Lilly Endowment Inc. (LEI), which invests in blight remediation and redevelopment projects that enhance quality of place and strengthen communities across Indiana. To date, Wayne County is the only county in the East Central Indiana region selected to receive this funding, reflecting its proven track record in successfully managing complex, high-impact redevelopment initiatives.

“This funding is a testament to Wayne County’s commitment to creating housing-forward communities and improving quality of place for residents,” said Valerie Shaffer, President of the EDC of Wayne County. “Our partnerships and consistent delivery on past projects demonstrate that we have both the vision and capacity to transform our community in meaningful, lasting ways.”

“Quality housing and removing blight are critical to revitalize Hoosier communities and draw new residents and economic activity. Richmond and Wayne County are showing great local leadership in this endeavor, and this READI 2.0 investment will go a long way to support this project and strengthen the region,” said Indiana Governor Mike Braun.

“Wayne County’s leaders are showing what region-led growth looks like in action. By aligning local partners around housing and redevelopment, they’re not just restoring properties, they’re strengthening the foundation for population growth, workforce attraction, and long-term prosperity,” said David J. Adams, Indiana Secretary of Commerce.

The new initiatives expand upon the EDC’s ongoing success through the Housing Accelerator Program (HAP), Wayne County Blight Program, and the creation of a countywide land bank – all aimed at enhancing livability, attracting talent, and strengthening the local workforce. In addition, the county’s HELP Downtown Revitalization Grant Program laid a strong foundation for continued downtown renewal efforts across Wayne County.

Under READI 2.0, three priority initiatives will drive this next phase of revitalization: Richmond’s historic Starr District, the Vaile Neighborhood, and downtown districts throughout Wayne County. In total, the initiative will contribute to the creation or rehabilitation of 144 housing units and a combined investment of more than $55 million. Together, these efforts will restore historic properties, develop new housing, and strengthen neighborhood vitality across the county.

The following summaries provide an overview of each READI 2.0 initiative supported by Lilly Endowment Inc. (LEI):

• In the historic Starr Neighborhood north of downtown Richmond, the funding will support the rehabilitation of 22 historic homes in one of Richmond’s most architecturally significant districts. The homes will be returned to owner-occupied status, stabilizing the area and preserving its historic character.
• In the Vaile Neighborhood, nonprofit partner Intend Indiana will lead construction of 22 new single-family homes on vacant lots south of downtown Richmond. The project will provide affordable housing opportunities for low- to moderate-income families, promoting long-term homeownership and reinvestment in the community.
• The Wayne County Downtown Revitalization Program will expand upon the existing HELP program to revitalize downtowns countywide. Efforts will focus on remediating blight, reactivating vacant and underutilized commercial buildings, creating upper-story housing units, and supporting historic preservation to spur private investment and enhance community vibrancy.

The READI 2.0 award was made possible through strong local and regional collaboration. Key partners of the EDC for these initiatives include Intend Indiana, Wayne County Foundation, Interurban, Richmond Power & Light, the City of Richmond and its Redevelopment Commission, Wayne County Government, Habitat for Humanity, and the Richmond Housing Authority. Together, these organizations are advancing neighborhood redevelopment and long-term housing stability in our county.

Construction and redevelopment are slated to continue through 2028, with design and predevelopment phases launching in 2025. As these initiatives advance, new housing opportunities and community investments will emerge across Richmond and surrounding towns, further positioning Wayne County as a model for rural revitalization in Indiana.

About the Economic Development of Wayne County

The Economic Development Corporation of Wayne County (EDC) is a public and private partnership dedicated to improving the business and community environment in Wayne County, Indiana, by attracting new investment, retaining and expanding existing businesses, and improving employment opportunities

Learn more at https://whywaynecounty.com

About the Indiana READI Program

Indiana is committed to investing in the growth and prosperity of the individuals and families that call the Hoosier state home. READI builds on the framework and successes of the Indiana Regional Cities Initiative and the 21st Century Talent Initiative, encouraging neighboring communities across the state to work collaboratively to develop a bold vision for their future that, when implemented, will attract, develop and retain talent in Indiana.

About the Indiana Office of Commerce

The State of Indiana’s Office of Commerce was created by Governor Mike Braun to align and accelerate the state’s economic development efforts and is led by Indiana Secretary of Commerce David J. Adams.