Jeffersonville, IN – The River Ridge Development Authority (RRDA) board of directors approved negotiations of three land deals that would bring new developments and jobs to the burgeoning business park in Southern Indiana.
During its monthly meeting, the board approved resolutions to allow Executive Director Jerry Acy to negotiate sales of three parcels comprising more than 65 acres within the River Ridge Commerce Center (RRCC). Combined, the sales could generate more than $5 million in funding for further development.
“Negotiating sales of these properties is very exciting, as we get closer to seeing new job creators on the cusp of joining those that already call River Ridge home,” Acy said. “Once these properties are sold, the funds can be reinvested in additional infrastructure, making River Ridge Commerce Center the most attractive, well-equipped business park for companies in this region.”
The parcels approved for sale include:
- 6.7 acres located at the corner of International Drive and Logistics Avenue that will be sold to an industrial/commercial prospect. The site is adjacent to the site where Medline Industries Inc. is building its 1.1 million-square-foot distribution center for medical supplies.
- 42 acres located at the corner of Lewman Way and Lewman Court that will be sold to an industrial prospect.
- 17.1 acres on Trey Street where the “Bag Building” is currently located that will be sold to an industrial prospect that would demolish the building to further prepare the site for development.
Additionally, the RRDA board voted Monday to award two design and construction contracts to prepare available properties for potential commercial and industrial development opportunities. These contracts will result in new infrastructure investments that will allow River Ridge to provide safe and efficient traffic flow within the center, repair and replace roads, and expand critical water main and storm sewer infrastructure.
The contracts approved as follows:
- Redwing Ecological Services, Inc. will be paid up to $44,600 to monitor and report on the Medline stream mitigation project for a period of five years.
- Clark Nickels, Inc. will be paid up to $298,400 to construct a water main extension along Patrol Road that will provide more effective fire suppression, redundancy and expansion capabilities to the surrounding infrastructure.
River Ridge’s mission is to redevelop more than 6,000 acres of former U.S. Army property into a commerce center that creates jobs, local tax revenue and regional growth in Southern Indiana. RRDA’s primary sources of revenue are land sales and property taxes within the commerce center that are reinvested in excavation and demolition projects, and construction of roads, sewer systems and water infrastructure.
In late July, Niagara Bottling announced their plans to build a 469,000-square-foot bottling facility and become the center’s newest tenant, bringing $56 million in investment to the area and 49 full-time jobs based out of the new facility.
River Ridge is currently home to more than 50 businesses employing about 9,000 workers, with that number steadily growing. A 2017 economic impact study found that businesses at River Ridge have generated more than $36 million in local income taxes since 2006. Local governments received more than $5.3 million in local income taxes last year, and will receive an estimated $5.8 million in 2018.
In addition, River Ridge businesses generated more than $27 million in state income and sales taxes last year and are set to top $30 million in 2018.
“Every day more of the pieces come together, and that’s a fantastic thing to see,” said J. Mark Robinson, President of the River Ridge Board of Directors. “With each milestone, our vision becomes clearer of the true economic impact this business park is already making – and will continue to make – for the people of Southern Indiana.”
Categories: Economic Development