JEFFERSONVILLE, Ind. (Inside INdiana Business) — The River Ridge Development Authority in Jeffersonville says it was able to overcome economic uncertainty stemming from the pandemic in 2020 as it was successful in attracting businesses and prepare for future growth in its business park.
The River Ridge Commerce Center recorded $143 million in capital development with six businesses having started or substantially completed new construction. One of the projects is a Class A office building at River Ridge’s Gateway Office and Research Campus.
Hollenbach-Oakley began construction on the 45,000 square foot office building which will house the RRDA and several Clark County government offices.
The development authority commissioned Indianapolis-based Policy Analytics LLC to conduct an Economic Impact Analysis. The report shows the commerce center produced an estimated $2.5 billion in economic output, based on the total value of all transactions conducted by the businesses at the center.
“Despite the challenges of 2020, we were able to attract major new employers and produce strong returns for our region, as independently quantified in our Economic Impact Analysis report,” said River Ridge Executive Director Jerry Acy.
The RRDA says over the past year it completed $10 million in capital infrastructure projects in 2020. This work included the demolition of unused military structures on the north end of the property and continued infrastructure work near the Indiana SR 265 interchange.
The River Ridge Commerce Center includes 60 companies and nearly 10,500 workers on the former Indiana Army Ammunition Plant property.