River Ridge marks 25th Anniversary with strongest year on record

River Ridge marks 25^th Anniversary with strongest year on record

Marking a quarter century of partnership, River Ridge and its partners reflect on

unprecedented success building the future of business

JEFFERSONVILLE, IN (Nov. 16, 2023) –River Ridge Development Authority (RRDA), formed in 1998, has kept the promise of revitalizing our area’s economy throughout 25 years of partnership. 2023 is the commerce center’s most successful year on record, with unprecedented new business announcements, renewed investments in infrastructure, and new resources for workforce development.

Canadian Solar Inc.  (NASDAQ: CSIQ), headquartered in Guelph, Ontario, is establishing a 5 GW Solar PV cell production facility at River Ridge Commerce Center. The facility represents a projected investment of more than $800 million and will create approximately 1,200 high-tech jobs once production is fully ramped up. This is the largest single investment at River Ridge to date.

The Cheesecake Factory Incorporated (NASDAQ: CAKE) also announced that it has acquired a 37-acre site in Charlestown, Indiana where it plans to develop its third bakery production facility.  Once constructed, the facility will produce The Cheesecake Factory’s world-famous cheesecakes and signature bakery products for its restaurants and other foodservice wholesalers, retailers and distributors, in addition to providing anticipated distribution efficiencies for the Company.

Both companies worked closely with the River Ridge Development Authority to complete the land acquisition within River Ridge Commerce Center and will continue to work collaboratively as they transition into the next phases of their projects next year.

Recently, River Ridge invited partners and existing businesses to reflect on changes made throughout the year.  On infrastructure, River Ridge shared progress on the construction of Penny Martin Lane, International Drive, Paul Garret Ave, and a centrally located salt storage facility for handling winter weather. Ivy Tech Community College shared it has established office space on site to offer customized training and employment pipelines to companies within River Ridge.

Also of note, River Ridge Commerce Center generated $43.6 million in total tax revenue for state and local entities in 2022. That number is only growing, as is the impact River Ridge has on its communities. Over the next decade, the RRDA plans to invest another $200 million over the next 10 years in local infrastructure improvements to support existing and prospective businesses at River Ridge.

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About River Ridge Development Authority

The River Ridge Development Authority manages the River Ridge Commerce Center, a 6,000-acre business and office park established in 1998 to replace lost economic activity from the closure of the Indiana Army Ammunition Plant. The Authority has invested more than $175 million to redevelop about 45 percent of the Center. River Ridge is home to more than 70 companies, such as Amazon, Bose, Collins Aerospace, Medline, Optum and PharmaCord. Onsite employment totaled more than 11,800 in 2022, and the Center produced a total of over $2.7 billion in economic output and supported an additional 6,300 regional jobs. The investments and growth at River Ridge earned the RRDA the International Economic Development Council’s 2020 Gold Award for Real Estate Redevelopment and Reuse.