River Ridge continues to produce millions for regional economy

May 21—SOUTHERN INDIANA — Progress is being made at River Ridge with new developments in store construction projects underway at the Jeffersonville commerce hub.

In 2022, private developments in River Ridge resulted in almost 1.9 million square feet in industrial and commercial space. River Ridge generated $43.6 million in total tax revenue for state and local entities in 2022.

"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."

This year there's another 1.7 million square feet in building additions planned started for the commerce center from businesses all around the country that want to build their companies in River Ridge.

With that much development coming to the area, infrastructure upgrades will be made to the areas inside River Ridge that are targeted for new companies.

"We really pride ourselves on making this the place, not just in the Midwest, but throughout the country for companies to succeed and grow and expand," said Josh Staten, River Ridge's business development and community relations director.

Investments made by the River Ridge Development Authority on the Charlestown side of the park include clearing land and adding infrastructure to serve and attract large manufacturers.

So far there have been almost 600 acres of land cleared and made available for industrial use. By the end of 2024, River Ridge officials are hoping to have upwards of 800 acres available.

Not only has River Ridge been making investments towards industrial projects, they have also been investing in office spaces, warehouses, showrooms and more.

"It adds another level to the different opportunities and the different things that we have available at the part for different companies," Staten said.

They have teamed up with OmniTRAX to help with upgrading their rail system as well as recruiting rail users for the park.

The rail system will be a big part of what the development authority has planned for the Charlestown side of River Ridge to attract manufactures.

"They're (OmniTRAX) doing a fantastic job, not only at assisting us to upgrade the rail system... but also to help us recruit rail users for the park," Staten said. "A lot of rail users stick around longer when they have a rail service site than a traditional rail site."

With the developments happening on the Charlestown side of River Ridge, there are plans to add a new main entrance on the northern part of the park. It will include a $9.7 million road project, which will be called Penny Martin Lane. It's named after the first Black woman to serve as a union representative at the former Indiana Ammunition Plant.

A new stoplight will be added to Ind. 62 for the new main entrance, and River Ridge will be working with Charlestown and other partners to get the stoplight installed. The timeline for the stoplight is unknown at this time.

With the road project going on, there are two new private developments undergoing construction on the Charlestown side. These two projects are two 47-acre projects and are expected to be around 300,000 square feet.

Land has been undergoing preparations in the area for the two developments as well as for future additions, some of which will be even larger than the two 300,000 square feet projects.

Two water towers have been built at River Ridge both being able to hold up to 2 million gallons of water.

"We pride ourselves on our ability to make sure that no matter what happens, companies can get a continuous supply of water," Staten said. "For a lot of these companies, if the water cuts off, they shut down."

Up to 40 potential clients are considering River Ridge in part due to the infrastructure investments made to the park.

Last year, River Ridge had 15 site visits from businesses that are interested in moving to the area. So far this year, there has been 12 site visits with more upcoming later on.

Companies with potential sites ranging from several hundred acres up to 1,000 acres are looking at joining River Ridge.

"These are going to be good companies with high paying jobs that people are going to really be able to make a living off of, and that's really what we want to there," Staten said.

From all the investments made to the infrastructure of River Ridge, the development authority no longer allows speculative development in certain areas of the park. Speculative development is when River Ridge has a building constructed and then attempts to find a company to purchase it.

"We want to know who's coming in," Staten said. "So, instead of building a building and bringing somebody in, we're looking for end users. We're looking for specifically what's the company, how many people are they going to employ, what are they going to invest into the area, what are the salaries, all that stuff."

Speculative developments are still of use in some areas of River Ridge. Many of the developments are being filled by companies before they are completed.

A report commissioned by River Ridge found that the economic activity at the commerce center, which includes operations at the industrial field, private investments and on-site companies, generated or sustained more than 18,600 jobs throughout the regional economy. The number of jobs increased by 15% from the previous year.

The estimated economic impact from River Ridge includes approximately $800 million in labor income and $1.8 billion in economic value added.

The report also stated that the largest direct employment impacts are in the logistics, warehousing, manufacturing and life science sectors.

River Ridge also invested $24 million toward two wastewater treatment plants as well as a $3 million grant to double water capacity at the commerce center.

"In addition to that, we're able to report that we have almost $85.7 million in private investment in River Ridge in 2022," Staten said.

"We've got world class businesses, the kind of stuff that's going to continue to grow this region, to grow Louisville Metro, to grow Southern Indiana. River Ridge is a huge piece of everything that is going around here."