River Ridge Board Approves $8.4 Million in Infrastructure Improvements at Park
JEFFERSONVILLE (Nov. 16, 2020) – The River Ridge Development Authority (RRDA) approved $8.4 million in […]
JEFFERSONVILLE (Nov. 16, 2020) – The River Ridge Development Authority (RRDA) approved $8.4 million in investments for infrastructure that will help the River Ridge Commerce Center (RRCC) expand development efforts at the 6,000-acre business park.
During its monthly meeting, the Development Authority approved these project awards to continue improving infrastructure throughout the RRDC:
Ongoing investments bring investments/jobs
The River Ridge Commerce Center has become a source of major economic development for the Louisville-Southern Indiana region. Serving as home to more than 60 companies with over 10,500 on-site workers, the Commerce Center estimated that it produced a total of $2.5 billion in economic output in 2019 and supported more than 16,900 regional jobs.
The Authority has invested more than $120 million to date to redevelop about 30 percent of the property. The investments in roads, utilities and other infrastructure have spurred private development from local, national and international employers; incentivized a diverse array of industries to locate within the Commerce Center; and created thousands of jobs across Southern Indiana.
To support this economic growth, the RRDA estimates the business park must invest more than $315 million over the next two decades to complete infrastructure improvements that will support current operations within the Commerce Center, and prepare the Center for future expansion.
Earlier this year, the International Economic Development Council (IEDC) honored the RRDA with the 2020 Excellence in Economic Development Award — an award that recognizes innovative projects that create jobs and serve as a catalyst for economic development in their region.
“This is a time of significant investment for the River Ridge Development Authority,” said Jerry Acy, executive director of the RRDA. “The Commerce Center has been recognized for the critical work we’re doing to create jobs and stimulate economic growth in the Louisville-Southern Indiana area. In order to keep doing that work, the RRDA must keep investing in infrastructure that will support the expansion and the future development of the Center.”
Continued investment in the Center’s water infrastructure is particularly important due the abundance of companies that need water for production.
“We’re making great strides, and our investment must continue to bring additional employers to the Center,” Acy said.
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