Business and government leaders recently opened a mile of new public roadway in Corydon, Ind., something that will provide a boon to local business development.
Federal Drive/Pacer Court is an extension of an existing retail/office complex that is near the Interstate-64/State Road-135 intersection and now connects with Corydon-Ramsey Road and Hospital Drive, providing additional access to the Harrison County Hospital complex.
Working together with two private developers, the chamber of commerce and the county engineer, the Economic Development Corporation obtained a loan from the County to construct the road, water, sewer, and storm drainage system to encourage immediate business development in this area. The Harrison County Economic Development Corporation has agreements in place for the land owners to repay the $1.5 million development costs as they sell their properties.
Darrell Voelker, director of the Harrison County Economic Development Corporation, said that the private land owners have a combined 95 developable acres remaining.
“While the total development will take some time, I believe substantial tax revenues will begin to be realized within the next year or two,” Voelker said.
The hope is that the new road will help generate new business in the area.
“These past few years have been very slow in new business recruitment,” Voelker said. “Since the closing of Tower Automotive and Keller Mfg locally and the growing competition for business activity in general, the Harrison County Business Community needed a boost, something to stimulate our economy locally.”
The project will also provide some relief to traffic congestion and will improve public safety, allowing more access points to the high-traffic areas of State Road-135 and the hospital.
“The overall cooperation between business and government leaders is what made this project possible”, said Gordon Pendleton, chairman of the Economic Development Corp. Board of Directors and a member of the county council.
