Aug 16, 2024
READI-made Housing Solutions Advancing Quality of Life and Place in Greater Lafayette
DELPHI, Ind. (Aug. 16, 2024) – The Indiana Economic Development Corporation joined local and regional
officials in Delphi today to break ground on Bowen Estates, a new single family residential subdivision
being supported by matching funds from Indiana’s Regional Economic Acceleration and Development
Initiative (READI).
Governor Eric J. Holcomb established the $1.25 billion READI program in 2021, and it has since beennationally recognized for its success. READI 1.0 was established with an initial $500 million in partnershipwith the Indiana General Assembly and is bringing vibrancy to regions across the state to accelerate
shovel-ready projects and programs that will transform Hoosier communities, attract talent and improve
quality of life.
“Here in the heart of the U.S. heartland, the great State ofIndiana is an ideal destination for talent and families to grow,”
said Gov. Holcomb. “We offer unique urban, rural andsuburban living options across the state, thanks in part toIndiana’s READI program, Hoosiers in all of these distinctive
environments are seeing more opportunities and moreimprovements to add to their high quality of life communities.
This new housing development in Delphi is another primeexample that will bring more availability and options toresidents in the area, supporting increased economic growthand community development.”
In the Greater Lafayette region, READI matching funds are being leveraged to accelerate the $1.25 million
Bowen Estates project (including a $625,000 READI 1.0 allocation), supporting construction of road,
utility and related sitework and infrastructure for Delphi’s new single-family housing development. The
subdivision will create 175 homes across 67.9 acres on the city’s south side, increasing home ownership
opportunities for residents and families in Delphi and the surrounding area while supporting the region’sgrowing talent pipeline.
“What started as a vision ensuring the city of Delphi has adequate housing for future generations tocome, will now become reality, as we place shovels in the ground for the historical Bowen Estates
Subdivision,” said Delphi Mayor Kamron Yates. “Groundbreakings such as Bowen Estates are a true
testament to state, local and regional partnerships, working together. The city of Delphi is extremely
grateful for this opportunity as we strive to provide a strong foundation for quality of life and housing for
generations to come.”

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 was part of Gov. Holcomb’s 2023 Next Level Agenda and secured additional
funding awarded by the Lilly Endowment, is allocating another $750 million to accelerate communitydevelopment 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 ofHoosier communities.
Carroll County is part of the Greater Lafayette region – led by the Greater Lafayette Commerce
Community and Economic Development Foundation – that was awarded $65 million in READI 1.0 andREADI 2.0 matching funds to support quality of life, quality of place and quality of opportunity projects.
The region’s READI investments, including Bowen Estates, are designed to grow regional population inboth rural and urban areas by focused investment at Purdue University to support the growing
semiconductor Industry in Indiana, and supporting a concentrated effort to retain and development
talent and attracting new workers to the region through investments in housing, quality of place andcommunity vibrancy, the development of parks and trails, and investments in arts and culture.
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.
- 30 Media Contact:
Nathan Brown (IEDC) – 317.586.1096 or nabrown1@iedc.in.gov