Study: River Ridge brings $2.7B economic impact
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
The River Ridge Commerce Center in Jeffersonville and Charlestown generated more than $2.7 billion in economic impact for southern Indiana last year, according to an annual report released Thursday.
The business park said the results are underscored by more than $27 million in local infrastructure investments made throughout the year.
The report was conducted by Indianapolis-based Policy Analytics LLC. The results show more than 11,800 people are employed on-site, up 15% over the previous year, and the commerce center supported more than 6,300 regional jobs.
Among the infrastructure investments was nearly $10 million in construction contracts to build Penny Martin Lane, which the River Ridge Development Authority says will improve roadway connects to the city of Charlestown.
The RRDA also invested $3 million in federal EDA grants to install a new, 20-inch transmission water main, which more than doubled water capacity at the business park.
“2022 was a success story,” said RRDA 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.”
Additionally, the report shows business activity at River Ridge generated $43.6 million in total tax revenue for local and state entities. Additionally, potential new businesses filed a record 111 requests for proposals at the park.
River Ridge said it plans to add more than 2 million square feet of business space this year, including the more than 1 million-square-foot Gateway 1000 speculative building being developed by Ohio-based VanTrust Real Estate.
The RRDA said it still has more than 2,500 acres of land still available for development and can accommodate projects up to more than 1,000 acres.
You can connect to the full annual report by clicking here.