Ports of Indiana moves forward on Ohio River site for potential 4th port
[September 21, 2017]
INDIANAPOLIS, Ind. – The Ports of Indiana has entered into an agreement to purchase up to 725 acres of land along the Ohio River in Lawrenceburg and Aurora, Ind., to be the potential home of a fourth state port.
“While we’re still in the early stages of this process, it’s hard not to be excited by the prospect of a fourth port in Indiana,” Gov. Eric J. Holcomb said. “The economic benefits to the region and the state as a whole would be game changing—providing new jobs and development opportunities.”
The agreement allows the Ports of Indiana to begin onsite engineering and environmental analysis of the property to determine the development potential and economic viability for constructing a port on the site. The Ports of Indiana expects to complete its due diligence and make a final decision about purchasing the land as early as 2018.
“Indiana’s ports are important economic drivers for our state, connecting Indiana to the world every day,” said Rich Cooper, CEO for the Ports of Indiana. “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 land is the site of a former American Electric Power plant operated by Indiana Michigan Power (I&M), and is owned by the Tanners Creek Development LLC, an affiliate of Commercial Development Co. Inc. and Environmental Liability Transfer Inc. (ELT).
“Our mission is to create positive outcomes for our clients and the communities and stakeholders that are touched by our projects and companies,” said Randall Jostes, CEO of ELT. “I&M went to great lengths during its selection process to ensure that effective repositioning and redevelopment would occur. We are elated that the Ports of Indiana has selected this site and are hopeful for a successful outcome.”
Indiana currently has three state ports operating on the Ohio River and Lake Michigan, with locations in Jeffersonville, Mount Vernon and Burns Harbor/Portage. Indiana has not opened a port since 1985 and has developed 80 percent of the original land that was acquired to construct the existing ports. Over the years, the Ports of Indiana has expanded each of its ports and now operates approximately 2,800 acres along Indiana’s navigable waterways.
Indiana’s ports contribute over $7.8 billion per year to the state economy and support nearly 60,000 jobs. Port activities annually contribute $3.4 billion in wages and salaries to Indiana workers and $328 billion in state and local taxes.
Find out more at portsofindiana.com.
Contact: Rich Allen, 317.232.9204, email@example.com