River Ridge celebrates 25 years with record activity
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The River Ridge Development Authority is marking 25 years in operation with what it calls its most successful year on record for the River Ridge Commerce Center.
The 6,000-acre business and office park in Jeffersonville and Charlestown was established in 1998 to offset the lost economic activity caused by the closure of the Indiana Army Ammunition Plant.
The biggest developments from 2023 have come just in the last month. In October, Canadian Solar announced plans to invest more than $800 million to build a solar photovoltaic cell production facility in the Jeffersonville portion of the park and create 1,200 jobs.
The project represents the largest single investment in River Ridge to date, according to the RRDA.
Just a few days prior, California-based restaurant chain The Cheesecake Factory Inc. said it would invest $74 million to build a bakery in the Charlestown portion of River Ridge and create more than 200 jobs.
The RRDA said the companies will continue their collaboration with the authority as they transition into the next phases of their projects next year.
The RRDA also continues to make infrastructure investments at the park, including new roads and a centrally located salt storage facility for handling winter weather. Over the next decade, the authority plans to invest $200 million in local infrastructure improvements.
In May, an annual report conducted by Indianapolis-based Policy Analytics LLC found that the River Ridge Commerce Center generated more than $2.7 billion in economic impact for southern Indiana in 2022. That includes $43.6 million in total tax revenue for local and state entities.