Potential Fourth Port Purchase Agreement Extended

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Governor Eric J. Holcomb announced that the Ports of Indiana has entered into an agreement to extend the option to purchase land near Lawrenceburg that could potentially be the state’s fourth port.

The Ports of Indiana entered into an agreement in Sept. 2017 to purchase up to 725 acres of land that was formerly the American Electric Power plant. That option was set to expire Dec. 31, 2018.

This action provides an extension up to six months, through June 30, 2019, for the seller, Tanners Creek Development, LLC, to finalize environmental work plans for the land.

If the Ports of Indiana decides to move forward, the total cost for the land and equipment would be approximately $8 million. The property has the potential to spur the economy of southeast Indiana by providing new jobs, multimodal connections to world markets, and development opportunities.

Indiana 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 new port since 1985. 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.

 

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