The River Ridge Development Authority has approved issuing $20 million in bonds to fund a new phase of growth. The largest portion will help pay for a $22.5 million road project connecting the River Ridge Commerce Center to the Ports of Indiana-Jeffersonville. River Ridge Development Authority Marketing and Finance Director Paul Wheatley says the heavy-haul road will open approximately 2,500 acres for immediate development potential. The money will also fund road, water and demolition projects.
Wheatley says the authority hopes to have proceeds from the bond sale within 60 days. He says the design phase is already underway for some of the projects. The heavy-haul road is set to be complete in October 2016 to coincide with the opening of the East End Bridge portion of the Ohio River Bridges Project.
A study by Policy Analytics LLC released last month suggests the River Ridge Commerce Center has a billion-dollar impact on the region's economy. The research also showed the center supported more than 9,100 jobs in 2013.
Source: River Ridge Commerce Center