Agreement Hones in on Potential Fourth Port Site

Posted: Updated:
(Image courtesy of the Ports of Indiana) (Image courtesy of the Ports of Indiana)
DEARBORN COUNTY -

The Ports of Indiana has signed a purchase agreement for 725 acres along the Ohio River as the potential location for another state-run port. The property in Lawrenceburg and Aurora is owned by Tanners Creek Development LLC and previously served as an American Electric Power Co. Inc. (NYSE: AEP) coal-fired power plant. If the site clears the state's environmental and economic viability study process, the acquisition could be finalized by December of 2018.

The total purchase cost by the state would be approximately $8 million and Governor Eric Holcomb says "the economic benefits to the region and the state as a whole would be game changing - providing new jobs and development opportunities." He adds "while we're only beginning this process, it's hard not to be excited by the prospect of a fourth port in Indiana."

The concept for another state port, the first since 1985, was broached in January of last year by then-Governor Mike Pence during his final State of the State Address. He called for "vigorous" exploration of a fourth port that would give the region an economic boost. The old Tanners Creek plant site became the primary target soon after, and in October of last year, a more formalized vetting process by state leaders kicked in.

Ports of Indiana Chief Executive Officer Rich Cooper says "Indiana’s ports are important economic drivers for our state, connecting Indiana to the world every day. We welcome this opportunity to explore the possibility of a fourth port for our state and are eager to move quickly to determine the viability of this land for use as a port to attract major investments and further spur southeast Indiana’s economy."

The Ports of Indiana operates some 2,800 acres along the Ohio River (Ports of Indiana - Jeffersonville and Ports of Indiana - Mount Vernon) and off of Lake Michigan (Ports of Burns Harbor). It estimates an annual economic impact of $7.8 billion, supporting nearly 60,000 jobs.

  • Perspectives

    • The Importance of Strategic Planning

      How many years have you put work-life balance on your list of New Year's resolutions? Every day, I see so many business owners struggle with the same issues: working 60+ hours each week, not being able to remember the last time they had a vacation, and simply feeling like it's up to them to do it all in their business. After working with countless business owners to identify and overcome their challenges, I've realized the most common root cause is a lack of strategic planning.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Electric Works Lands State Incentives

      The first phase of a major redevelopment project in downtown Fort Wayne will receive state assistance. The Indiana Economic Development Corp. has awarded a conditional tax credit for Electric Works, a mixed-use innovation district located at the former GE campus. The incentive is part of the IEDC's Industrial Recovery Tax Credit program, used to boost investment in the redevelopment of former industrial facilities. Developers are projecting an initial investment of more than...

    • Well-Known Real Estate Firm Expanding to Fort Wayne

      Texas-based Keller Williams Realty Inc. has announced plans to open its first office in downtown Fort Wayne. Financial details of the real estate company's investment in the location were not immediately disclosed, however the expansion will bring at least 35 jobs to the Allen County city.

    • Nestl√© Planning $80M Anderson Expansion

      Nestlé USA has unveiled plans to invest nearly $80 million into its Anderson operations. Our partners at The Herald Bulletin report the company will purchase new equipment for the facility and add 30 jobs.

    • Construction to Begin on $15M Fieldhouse

      City and development officials will break ground Friday on a $15 million sports complex in Noblesville. Finch Creek Park Fieldhouse will include five courts with hard surfaces, two turf-surfaced fields and 11 batting and pitching cages. The project, which was first unveiled a year ago, is a public-private partnership between Klipsch-Card Athletic Facilities LLC and the city. The company is also owner/operator of the fieldhouse at Grand Park in Westfield.

    • Kroger Hires Eric Halvorson

      A former longtime Indianapolis television anchor and reporter has been hired by The Kroger Co. (NYSE: KR). Eric Halvorson, who left WISH-TV last year after 33 years, will serve as public affairs manager and media spokesman for the company's Central Division. He succeeds John Elliott, who will become the chief executive officer of Gleaners Food Bank in Indianapolis later this year.