JEFFERSONVILLE — The River Ridge Development Authority on Monday approved investing in more than two dozen infrastructure projects at the River Ridge Commerce Center that will ready more sites for development.
The list of projects includes water, sewer, utility and road improvements and demolition of more former Indiana Army Ammunition Plant igloo structures. The authority expects to use proceeds from the sale of bonds later this year to cover the costs of the improvements.
Earlier this year, the River Ridge Development Authority estimated it would need to invest more than $315 million over the next two decades to complete infrastructure improvements to prepare parcels for development.
Already supporting more than 50 companies and 10,000 jobs, the center has become one of the largest economic-development magnets for the Louisville-Southern Indiana region. Eighty percent of its 6,000 acres has yet to be developed, and officials expect continued investments to attract tens of thousands of additional jobs and millions of additional dollars annually in tax revenue.
Just last week, it was confirmed Exeter Property Group, a Conshohocken, Pa.-based real estate developer, intends to build a roughly 500,000-square-foot industrial warehouse at 101 Jacobs Way in the River Ridge Commerce Center. Exeter previously finished a similar-sized project inside River Ridge at 300 Hilton Drive, which Hydra Trucking and Warehousing signed on to lease last year.
In other action on Monday, the board approved resolutions:
• Granting a parking exception to Hollenbach-Oakley for Phase I of the Gateway Office Park to allow 744 spaces instead of the limit of 608 specified in the River Ridge Commerce Center Development Standards.
• Approving a $69,400 contract with Redwing Ecological Services Inc. to perform stream/wetland mitigation on a 13.3-acre site to facilitate development along Lentz Avenue. The contract includes drainage improvements and plantings to help protect streambanks from erosion.