River Ridge Economic Impact Grows
1SI says the River Ridge Commerce Center is only 15 percent occupied.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA new report shows an increase in the economic impact of the River Ridge Commerce Center in southern Indiana. The center’s 2018 Economic Impact Analysis says River Ridge helped created or sustain more than 16,000 regional jobs, generating $2.3 billion in annual economic output and more than $39 million in state and local tax revenue.
The River Ridge Development Authority says it expects businesses at the center to surpass $40 million in tax revenue this year.
"This report reinforces what we’ve known for several years, that River Ridge is going to be a focal point for regional growth for years to come," Jerry Acy, executive director of the River Ridge Development Authority, said in a news release. "The investments being made here pay huge dividends to our community partners, the state of Indiana and throughout the region."
However, the RRDA says land sales to private developers were sluggish in 2018. The report says River Ridge collected $3.3 million in revenue from land sales last year, compared to $11.6 million in 2017. Land sales have historically been the greatest source of revenue for the authority, though in 2018, that distinction went to the incremental property tax income collected from property developed at the former Indiana Army Ammunition Plant.
"Our land sales were down last year, which affects our ability to reinvest and prepare land for future sales," Acy said. "But 2018 was still a great year and one of the busiest years we’ve had for construction activity and job creation – work that will pay dividends for decades to come. Based on current activities, we anticipate a sufficient increase in land sales in 2019 as private developers and companies continue to grow at River Ridge."
You can view the full report below: