Infrastructure Improvements Coming to River Ridge
JEFFERSONVILLE - Infrastructure improvements will continue at the River Ridge Commerce Center in Jeffersonville following the approval of debt refinancing. The River Ridge Development Authority board refinanced nearly $35 million in debt incurred over the past six years for roadways, building demolition, and utility installation.
Board members feel an additional $30 million will be needed for infrastructure improvements, with revenue expected to come from land sales. It's estimated $300 million will be needed to complete all work, including building out the remaining 3,000 acres at the 6,000 acre park over the next 15 to 20 years.
“We need to take on some additional debt to complete projects to build out the additional acreage we have left to develop,” said Jerry Acy, Executive Director of the River Ridge Development Authority. “Continued investment in River Ridge will help us fulfill our mission and continue to attract jobs and additional tax revenue.”
The Jeffersonville industrial park currently hosts more than 50 companies, representing 10,000 jobs.