The Indiana Finance Authority has released an Economic Impact Study analyzing using a public-private financial and project delivery structure to provide, operate, manage, and maintain a toll collection system for the Ohio River Bridges Project. The purpose of the Economic Impact Study was to look at the economic impact on existing commercial and industrial development, potential impacts on employment, potential for future development near the project area, potential fiscal impacts on revenues to local government, and potential demands on government services.
The study concludes that “the Ohio River Bridges Project is expected to have a positive impact on the overall five-county study region, allowing the regional economy to generate significantly more jobs, personal income and business output than could occur without the Project. Furthermore the positive impacts of the Project’s economic impact from construction jobs, market access, transportation efficiency and land use impacts far outweigh any adverse regional economic effects of tolling.”
“Because of the amount of additional economic growth that is enabled in Indiana as a result of the Project, significant increases in population and employment are anticipated with the
associated increases in government revenue, and corresponding demand for government
infrastructure and services…” and that “all of the cost of county and local services needed to accommodate this growth is anticipated to be covered by tax revenue generated by project-related growth….”
The full text of the Study may be found at http://www.in.gov/ifa.2331.htm.
The Indiana Finance Authority will be holding a forum to accept public comments on the Economic Impact Study on March 25, 2014, at 5:00 p.m. (local time) at the Sheraton Riverside Hotel, Riverside Ballroom, 700 West Riverside Dr., Jeffersonville, Indiana, and via video feed at the University of Louisville, Shelby Campus, Founders Union Building, Room 218, 9001 Shelbyville Road, Louisville, KY 40292.