News and Tribune 05.30.2014
PROGRESS BUSINESS & INDUSTRY
A freight train moves along tracks next to Port Road in Jeffersonville. Photo by Christopher Fryer
Greasing the wheels When it comes to infrastructure, Southern Indiana means business By Matt Koesters matt.koesters@newsandtribune.com
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hether by air, by the Interstate 265 loop. The road, by rail or by downtown crossing is meant to river, Louisville provide more northbound lanes and Southern In- to ease traffic congestion along diana enjoy a distinct competi- Interstate 65. Both new bridges, tive advantage over other cities along with a renovated Kennedy Bridge for southbound I-65 trafwhen it comes to logistics. “Typically, when a company fic, will be funded by the collecis looking at either expanding tion of tolls from motorists. “Both bridges will be signifiand relocating or adding a new cant economic drivers in facility somewhere, inithe long run,” said Uric tially, the main driver is Dufrene, professor of the logistics issue,” said economics and finance at Jerry Acy, River Ridge Indiana University Southexecutive director. Acy east. “While tolls will proestimates that a relocatvide a cost to daily coming company’s choices muters, the economic for relocation sites are benefits of both bridges “99 percent” driven by will far exceed the tolls.” logistics. The east-end crossing is And the rich keep MIKE MOORE perhaps the most anticigetting richer. pated component of the Southern Indiana is project among members about to give businesses of the Southern Indiana a few more reasons to business community, as it locate here. The Ohio will provide direct highRiver Bridges Project is way access to the town recognized as one of the of Utica, the Port of Indilargest ongoing transana — Jeffersonville and portation projects in the the River Ridge Comcountry, but some lessermerce Center. known projects near “When it comes to River Ridge Commerce URIC DUFRENE convenience, people Center are going to turn that are shipping their the heads of executives products or receiving looking for new homes their raw materials, confor their companies. venience and efficiency is at the top of their BRIDGES PROJECT lists,” said Rich Cooper, Estimated to be comCEO of Ports of Indiana. pleted at the end of 2016, “This bridge is going to the Ohio River Bridges provide both of those Project consists of three components to people major components — the downtown and east- JACK COFFMAN at River Ridge and the Ports of Indiana, and end crossings and the requite frankly, on the other side of alignment of Spaghetti Junction in downtown Louisville — at a the river as well.” While the east-end crossing is cost of about $2.5 billion. The east-end crossing, for expected to immediately benefit which construction is being Southern Indiana, the downtown managed by the Kentucky Trans- crossing is more about planning portation Cabinet, will complete for the future, said Jeffersonville
Mayor Mike Moore. “It puts us ahead of the competition,” Moore said. “The economic growth is what has driven the two bridges projects. You wouldn’t have had governors from Indiana and Kentucky both willing to commit the dollars and investment into our community and Louisville’s community if there wasn’t a huge benefit for us financially.”
HEAVY HAUL CORRIDOR When it comes to economic growth in Southern Indiana, it’s easy to identify the epicenter of where that growth is happening: The north end of Jeffersonville, where River Ridge and the Port of Indiana — Jeffersonville are located. According to the latest annual report from the River Ridge Development Authority, the business and industrial park has grown from $129.3 million in direct investment in 2006 to $530.5 million in 2013. With new tenants like America Place, Catamaran and American Fuji Seal, that number’s sure to grow this year. One thing holding River Ridge back is a lack of rail connectivity to the port, but that’s about to change. Ground was broken in April on the construction of a new heavy haul corridor that will connect the two entities, which will include right-of-way acquisition for the construction of new rail lines from the port to the former ammunition plant. The heavy haul corridor’s $22.5 million price tag is being paid for through a partnership between the state, River Ridge, the port, Jeffersonville and Clark County. Jeffersonville’s willingness to contribute to the project
Jeffersonville Mayor Mike Moore and Louisville Mayor Greg Fischer cut the ribbon to officially open the Jeffersonville ramp to the Big Four Bridge on Tuesday afternoon. Photo by Christopher Fryer
THE BIG FOUR BRIDGE BOOM Though the recently completed Big Four Bridge, a pedestrian and bicycle crossing, doesn’t help local commercial entities with their logistics needs, it does provide Jeffersonville with something just as important for attracting new business — a steady stream of customers. “I think it changes the entire dynamic for the city of Jeffersonville,” said Mayor Mike Moore. “It makes us a much more attractive city for job growth, for family growth, for education growth, for tourism growth.” The Big Four Bridge could ease the pain caused by tolls for some Jeffersonville businesses, said Uric Dufrene, professor of economics and finance at Indiana University Southeast. “Jeffersonville is positioning itself as a destination for Louisville residents, and the Big Four Bridge will improve accessibility,” Dufrene said. Several businesses located to and opened in downtown Jeffersonville in direct response to the opening of the pedestrian bridge, including Big Four Burgers + Beer, Pearl Street Treats and Red Yeti Brewing Co. Dufrene thinks there’s room for more than just new eateries in Jeffersonville, thanks to the bridge. “The city and entrepreneurs should also think about a mix of retail or hospitality establishments that won’t be adversely impacted by any tolls,” Dufrene said. — Staff Writer Matt Koesters
“Both bridges will be significant economic drivers in the long run.” — Uric Dufrene
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IU Southeast professor of economics and finance
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