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Jeffersonville: Significant Economic Impact/Job Creation,Taxes, and Capital Investment

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#41 Savile Row

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Posted 17 September 2015 - 07:33 AM

Community Profile: River Keeps Jeffersonville, Ind., Economy Rolling
by Glen R. Sparks
"For a mile and a quarter on the northern bank of the Ohio River, in Jeffersonville, Ind., barge building gets top priority.

Machinists, carpenters, pipe fitters and other trades people will complete about 350 barges this year for Jeffboat, a subsidiary of Jeffersonville-based American Commercial Lines. Jeffboat, just across the river from Louisville, Ky., also builds towboats and manages a dockside repair facility. The company calls itself the largest inland boat-building company in the United States."


Read more:
https://www.stlouisf...economy-rolling

#42 Savile Row

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Posted 17 September 2015 - 07:35 AM

It's the fastest-growing port on the Inland Waterway System!



Steel Businesses Make Port Strong
Cranes load and unload goods at the Port of Indiana-Jeffersonville, also known as Clark Maritime Center, along the Ohio River. Clark is the fastest growing port on the Inland Waterway System.


From one small grain business that rented space on one little dock in the late 1980s, the Port of Indiana-Jeffersonville has become a local economic giant.

In 2005, the port—also known as the Clark Maritime Center—handled about 1.6 million tons of cargo, worth about $452 million, says Jody Peacock, a spokesman for the Ports of Indiana, which operates the center and two other ports in the state. The 1,000-acre facility in Jeffersonville has about 30 tenants and 1,500 employees.

The port opened in 1988. Since the early '90s, it has really taken off, says Brian Sieg, manager of port operations. It's the fastest-growing port on the Inland Waterway System.

Why So Busy?

For one, Jeffersonville is adjacent to the nation's "automotive and appliance alley." Toyota, Ford and General Motors operate assembly plants in the region, as do General Electric and Whirlpool.

Also, some port tenants complete the first phase of manufacturing before sending products to their distributors. Nova Tube, for instance, rolls steel into cylinders that eventually become the chassis for Ford F-150 trucks.

The port has 13 steel-related firms, meaning tenants can offer a variety of complementary services. Voss/Clark Industries pickles steel (to remove rust) for other port tenants. Steel Dynamics Inc. galvanizes steel coils.

Peacock says a major goal of the Ports of Indiana staff is to attract companies that can benefit from one another. The port organization maintains all the roads and other infrastructure on the property. The facility still has a few hundred acres of developable land.

"The port is kind of like a giant, maritime mall," Peacock says. "If you get all the stores together, then they can be much stronger than if you have just one or two stores."


Edited by Savile Row, 17 September 2015 - 07:46 AM.


#43 Savile Row

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Posted 17 September 2015 - 07:41 AM

These are exceptionally exciting times for the City of Jeffersonville.
There is significant private investment capital flowing into Jeffersonville

that is making the residents' lives much better. It is becoming a destination. Great jobs

and opportunity for Jeffersonville's citizens! A lot of very positive things are occurring!


Edited by Savile Row, 17 September 2015 - 07:42 AM.


#44 woo

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Posted 17 September 2015 - 07:45 AM

Speaking of the port....

Duke energy is making a commitment to make it better.

 

http://www.ajot.com/...ure-development

 

Duke Energy Indiana has selected a 140-acre parcel of land inside the Port of Indiana-Jeffersonville in Clark County for the utility’s 2015 Site Readiness Program.

The Site Readiness Program is a key component of Duke Energy’s economic development model. It identifies, evaluates, and improves sites in the company’s service territory for potential industrial development.

“We see distinct potential for this site to attract businesses that can bring economic growth to this area,” said Lisa Huber, Duke Energy Indiana community relations manager for Clark County. “Helping promote economic development is an important part of our commitment to serving our customers.”


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#45 TLIES

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Posted 17 September 2015 - 08:16 AM

 

 

Can anyone decipher what's going on with what is being depicted in these phrases/incomplete sentences? 

 

 

Of course !!!


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#46 Savile Row

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Posted 29 September 2015 - 03:58 AM

Mayor Moore has another new major economic development going into Jeffersonville!
More private equity investment.
This new multi-million dollar hotel complex
will fit very nicely into the area by the  $35,000,000 apartment/retail project
going in on the other side of  Mullberry Street and the brand new Big Four Bridge and Park.
 
Quite an impressive first appearance when you enter into Jeffersonville via Court Avenue.
It is nice to see the company have the flexibility to modify and greatly extend their project

when the new 160 unit apartment and retail space development

was announced for the block across the street.


Edited by Savile Row, 29 September 2015 - 04:01 AM.


#47 Savile Row

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Posted 29 September 2015 - 04:06 AM

Hotel, retail to replace old Rose Hill school in downtown Jeffersonville
$15 million investment

Monday, September 28, 2015
By ELIZABETH BEILMAN

The Newsandtribune


JEFFERSONVILLE
The empty Rose Hill Elementary School in downtown Jeffersonville
will be torn down soon, and in its place will rise a 93-room upper-mid scale hotel.


http://www.newsandtr...f63110036e.html



#48 Savile Row

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Posted 29 September 2015 - 04:09 AM

Announcement Tuesday

The development plans show a three-story, 17,800-square foot hotel

with a "global brand franchisee" and 1,200 square feet of retail space.

Goodman wouldn't reveal which hotel franchise will be moving into the property just yet.

He said the big announcement for the development is coming Tuesday

during Jeffersonville's Plan Commission meeting. A representative

of that franchise and a hotel operator out of Indianapolis

will be at the meeting at 6 p.m.to present the plan.


Edited by Savile Row, 29 September 2015 - 04:23 AM.


#49 Savile Row

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Posted 29 September 2015 - 04:19 AM

The Court Avenue corridor entrance into Jeffersonville is really advancing!

 

The first impression and lasting impact upon Jeffersonville

will be beneficial for many generations.

The 160 unit high end major

apartment building and

retail development.

The new 17,800 square foot hotel.

The Big Four Park and Bridge.

Impressive!

 

These developments compliment nicely Spring Street's revitalization

and the significant waterfront improvements.

 

Also, the Colston Park area can still be developed!


Edited by Savile Row, 29 September 2015 - 04:20 AM.


#50 Savile Row

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Posted 29 September 2015 - 04:44 AM

Next Up!
The area North of these developments just across Court Avenue !
The area going North roughly bounded by  Ohio and Spring Streets all the way

to the new development going in at the Southwest Corner of 10th and Spring Streets.

Several very good development ideas are being considered.

 

Additionally, the senior living apartments

and retail space being developed

by New Hope Services

at 8th and Spring Streets

will be discussed at the city's plan commission meeting.


Edited by Savile Row, 29 September 2015 - 04:51 AM.


#51 snowman

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Posted 29 September 2015 - 04:46 AM

Great news for Jeffersonville! Wonder if our taxes will go down. LOL.


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#52 Savile Row

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Posted 29 September 2015 - 05:12 AM

As a general rule, when developments are added and a tax base is significantly enhanced,

lots of new taxes are generated including property taxes. The new taxes support

the various taxing authorities over a long period of time.

 

The income taxes, etc., that are generated from long term job creation

also assist in supporting the government.

The money spent

by the additional employees,

the income to the shareholders from the operation of the businesses,

and the money generated by those businesses is also taxed and reinvested.

Retirement accounts are funded and subsequently those funds are invested, often in the markets,

and yet more taxes and investment capital is generated.


Edited by Savile Row, 29 September 2015 - 05:46 AM.


#53 Tina

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Posted 29 September 2015 - 06:46 AM

As a general rule, when developments are added and a tax base is significantly enhanced,
lots of new taxes are generated including property taxes. The new taxes support
the various taxing authorities over a long period of time.
 
The income taxes, etc., that are generated from long term job creation
also assist in supporting the government.
The money spent
by the additional employees,
the income to the shareholders from the operation of the businesses,
and the money generated by those businesses is also taxed and reinvested.
Retirement accounts are funded and subsequently those funds are invested, often in the markets,
and yet more taxes and investment capital is generated.



That's the long answer.

The short answer, snowman, is no. Your taxes will not go down. If we're lucky, and we restrain government a little, perhaps our kids will get lower taxes in 20+ years!

#54 snowman

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Posted 29 September 2015 - 07:07 AM

Yeah, the long answer sounded like a No...    I'm contributing about $650 more per year since the annexation. 

 

With all of the growth going on, seems like we'd see some tax relief from that.  Unless these new businesses have large tax abatements for locating here, there should be some hefty property taxes coming in from them. 



#55 Not Super But Honest Mike

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Posted 29 September 2015 - 09:20 AM

Taxes will not decrease because this new devel;opment is in the TIF.

 

Current TIF collections are around 13 million.

 

The city budget...from taxes...is around 30 million.

 

Our taxes will not decrease until the TIFs sunset and the TIF taxes are folded into the general fund collections.



#56 TLIES

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Posted 29 September 2015 - 09:48 AM

 

 

Our taxes will not decrease until...

 

 

.... we are dead and in the ground, actually a year after for probate, and estate settlement.


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#57 Savile Row

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Posted 29 September 2015 - 12:14 PM

Bushels of various new income and  tax revenues

are created over a very long period of time by the private

capital economic development investments. These permanent tax

and income streams would not exist unless the development investment had first occurred.

It creates additional prosperity which then allows the guv-mint  to tax in various forms.

:yes:


Edited by Savile Row, 29 September 2015 - 12:28 PM.


#58 Not Super But Honest Mike

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Posted 29 September 2015 - 12:20 PM

Yes SR, other taxes are created. But we would be foolish to count on those funds to pay salaries and bond payments. A big economic down swing would cause a big drop in funds. When that happens ....the residents have to make up any short fall in funding.


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#59 Savile Row

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Posted 29 September 2015 - 12:35 PM

Income.

Jobs.

Bushels 'n bushels of various taxes

for the governmental units:

local, state, federal.

Investment growth.

Portfolio enhancement.

Retirement accounts!

Prosperity.

Be happy!

 

:thumbsup:


Edited by Savile Row, 29 September 2015 - 12:59 PM.


#60 woo

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Posted 29 September 2015 - 12:45 PM

Income.

Jobs.

Bushels 'n bushels of various taxes

for the governmental units:

Yes, we are living in a time of expanded prosperity for the residents of Jeff.

May it continue for many Moore years.


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