River Ridge Development Authority (RRDA) hit new milestones across the board, according to a brand-new report from Policy Analytics, LLC. The turbocharger of Indiana’s economic engine expanded its employment footprint, business operations and site development, underscored by a $27.5 million investment in local infrastructure and a more than $2.7 billion economic impact throughout southern Indiana.
“2022 was a success story,” said River Ridge Executive Director Jerry Acy. “The River Ridge Commerce Center proved to be a committed community partner through our continued economic growth and ongoing investment in infrastructure improvement projects. We’ve accomplished a lot, but the work continues – and we look forward to continuing to build on that momentum in 2023 and beyond.”
Last year, River Ridge Commerce Center (RRCC) directly employed 11,877 individuals. That’s an increase of 15 percent in the past year, thanks to new companies coming online. In addition, RRCC supported more than 6,300 regional jobs.
Thoughtful and strategic growth requires a focus on future needs, which is why RRCC contributed $27.5 million to plans and projects in 2022 according to the new report. Most notably, the Commerce Center awarded construction contracts for nearly $10 million dollars to construct Penny Martin Lane. Named after the first African American woman to serve as a union representative at the former Indiana Ammunition Plant, Penny Martin Lane will improve roadway connections to the City of Charlestown, Indiana. RRCC also invested $24 million in pledged support to expand the Jeffersonville North and Charlestown wastewater treatment plants, serving current and future growth in our communities.
“We’re making it easy for companies of all sizes to call southern Indiana home,” added Acy. “I’ve known our future is bright and the proof is in the pudding. Year after year, I’m excited to join forces with top-notch advanced manufacturing, distribution and industrial organizations from near and far to strengthen our communities, the region, the State of Indiana and our nation.”
River Ridge already plans to bring on more than two million square feet of business space in 2023, including VanTrust Real Estate’s illustrious Gateway 1000 project. In its third project with RRCC, VanTrust joins Amazon and Medline as the three largest buildings on site.
In just one year, River Ridge generated $43.6 million in total tax revenue for state and local entities. That number is only growing, as is the impact RRCC has on the surrounding communities. Over the next decade, the RRDA plans to invest $200 million in local infrastructure improvements, making it easier to live and work in southern Indiana.
A summary of Policy Analytics’ report is as follows:
- The River Ridge Commerce Center produced $2.746 billion in economic output throughout southern Indiana.
- Business activity generated $43.6 million in total tax revenue for state and local entities.
- Businesses that call River Ridge home expanded their employment footprint to 18,613 people.
- 11,877 employed individuals onsite; and
- 6,736 regional jobs supported.
- RRCC invested $27.5 million in capital improvement projects for current and future businesses.
- RRDA continued to expand, pledging $24 million toward two wastewater treatment plants, providing nearly $10 million to construct Penny Martin Lane and matched a $3 million dollar grant to double water capacity at RRCC.
- Potential new businesses filed a record 111 requests for proposals.
- The Board of Directors approved eight potential land sales representing more than 172 acres of new development.
- Two million square feet of industrial space went online, and progress began on two million additional square feet of new construction.
- The Clark County Government relocated its operations to the building in 2022.
The full 2022 RRDA Annual Report can be accessed at www.riverridgecc.com/annual-report.