River Ridge Negotiates Largest Land Contract in History | News
JEFFERSONVILLE – The River Ridge Development Authority (RRDA) on Thursday approved a resolution authorizing Executive Director Jerry Acy to negotiate the sale of 600 acres or more on the River Ridge Commerce Center (RRCC) mega-site.
The sale, if completed, would be the largest single land transaction in River Ridge history and lead to the development of another major project in the Southern Indiana Business Park.
Board approval allows Acy to continue conversations with a confidential industrial or commercial prospect interested in purchasing the undeveloped land for planned development. The potential buyer has indicated that the project will include the construction of a bespoke industrial campus consisting of several facilities.
âIt would be a big project for River Ridge,â Acy said. âWe have reserved the megasite land to accommodate major transformation projects that require large plots of land, and this project certainly meets that standard. We are optimistic and eager to make the project a reality for the benefit of our entire region.
With a sale price of $ 70,000 an acre, the land transaction would generate at least $ 42 million in financing for the RRDA. The funding would be used for operations and further development to attract businesses and jobs to southern Indiana. To date, River Ridge has invested over $ 150 million in roads, water and sanitation infrastructure, and other infrastructure. However, only about a third of the 6,000-acre park has been developed.
RRDA estimates that it will need to invest at least $ 250 million more for future development.
Building on a solid year
âWe’ve had a lot of success bringing new developers, employers, and associated taxes to communities, especially over the past year,â Acy said. âThis is another example of how reinvestments in River Ridge can pay off. “
Some of the highlights of 2021 include:
â¢ Communications Test Design, Inc. (CTDI), a leader in the rapidly growing communications, mobility and consumer devices industries, has opened a new location at the River Ridge Commerce Center. CTDI is located in a 702,800 square foot building developed by Van Trust Real Estate and plans to add up to 1,000 full-time employees paying more than the county average salary over the next five years.
â¢ Kroger Health, the healthcare division of The Kroger Company, has announced plans to expand its regional central filling facility to a new location in River Ridge. The expansion will create 60 new jobs in addition to the 115 current associates who could be transferred to the establishment.
â¢ Affinity, a manufacturer and distributor of professional work uniforms and safety clothing, opened a new US headquarters, manufacturing facility and distribution center in River Ridge. The company is located in a 100,000 square foot building developed by America Place and plans to create 160 new jobs.
â¢ OmniTRAX, a national provider of supply chain logistics and transportation solutions, began operations in River Ridge. The company, which operates a network of 21 regional and shortline railways, will further develop rail infrastructure and services in River Ridge and help attract new employers to the Commerce Center.
âIt’s been a very successful year for River Ridge, and it’s a great way to top it off,â said Acy. âWe will be working closely with this potential investor to do a due diligence so that the buyer can move forward with the development and construction of another large project in River Ridge. “