CATAMARAN SAILS ALONG
Two claims were approved for payments associated with the Catamaran project being constructed in River Ridge.
Paul Wheatley, director of marketing and finance at River Ridge, said the payments were part of the purchase agreement reached with Catamaran Corp. Because River Ridge had not completed a phase one study, which examines the land on which the building will be constructed, the development authority agreed to pay the $2,200. The remaining money was a repayment to the U.S. Army for the payment of the land sold to Catamaran for $16,104.
Catamaran Corp. is constructing a 75,000-square-foot building on a 12-acre site at 1050 Patrol Road, which officials anticipate will bring 200-plus jobs with annual salaries averaging $50,000 to the region. An additional 75,000 square feet adjacent to the building will be available for future expansion for the pharmaceutical benefit management company.
The 12 acres of property was sold to Catamaran for $45,000 per acre or a total of $540,000.
Catamaran Corp. anticipates opening its building in November.