JEFFERSONVILLE (May 21, 2018) – The Board of Directors of the River Ridge Development Authority (RRDA) voted today to donate up to 105 acres of land – a gift valued at $1.4 million – to the City of Jeffersonville for a planned community park.
Jeffersonville Mayor Mike Moore, who made the land request, plans to develop a new park to benefit area residents and employees working at River Ridge. The City of Jeffersonville will invest several million dollars to develop the park.
It will be an added amenity that can help River Ridge attract businesses and provide the center’s 8,000 employees with recreational space.
“River Ridge is pleased to support Mayor Moore’s vision for more recreational opportunities and community amenities for the region,” said J. Mark Robinson, President of the RDDA Board of Directors. “Providing land for the shared benefit of the communities we serve is consistent with the mission of River Ridge.”
Under federal and state law, River Ridge’s mission is to redevelop thousands of acres of former military land into a commerce center that creates jobs, local tax revenue and regional growth in Southern Indiana. The RRDA’s primary sources of revenue are land sales and property taxes within the commerce center.
The Board declined to support another request by the City of Jeffersonville that would have committed River Ridge to pay $5 million to Jeffersonville for firefighters’ salaries and benefits over the next five years. River Ridge has previously committed that it will donate a strategically located parcel of land – 6.8 acres valued at more than $500,000 – for a future Jeffersonville fire station.
“Our mission and commitment is clear – we must dedicate our limited dollars to the continued development of an economic magnet that’s responsible for nearly 14,000 jobs and more than $2 billion in annual economic impact to the region,” said Jerry Acy, RRDA Executive Director.
The RRDA has more than $70 million in debt obligations for on-going infrastructure investments – such as roads, sewer and water lines and lighting – and is responsible for an estimated $370 million in future infrastructure costs to provide the roads, utilities and other amenities required to fully develop its 6,000 acres to meet the needs of major employers.
The latest gifts of land to Jeffersonville for a planned city park and fire station continue the RDDA’s commitment to help adjacent communities with needs that come with the continued population and business growth in Clark County.
In recent years, River Ridge has dedicated more than 180 acres of commerce center land to local governments for uses including fire stations, a water treatment facility, an emergency response center (E911), a police training facility, and maintenance and storage facilities.
A 2017 economic impact study found that businesses at River Ridge pumped more than $36 million in local income taxes to local government coffers since 2006. Local governments received more than $5.3 million in local income taxes last year and will get 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 will likely top $30 million in 2018.
About the River Ridge Development Authority
The River Ridge Development Authority was originally established to replace the lost economic revenue previously generated by the now shuttered Indiana Army Ammunition Plant. Our goal has expanded to meet the tailored needs and create the top destination for advanced manufacturing, distribution and industrial companies from across the nation and around the world.