LOUISVILLE, Ky. (WDRB) — The redevelopment of the former Jeffboat site in southern Indiana just got a huge economic boost.
The Indiana Economic Development Corporation (IEDC) announced in a release Thursday, Sept. 25, the approval of a $20 million Lily Endowment Grant to support the project.
The mixed-use redevelopment of the 80-acre site is expected to include housing, shopping, restaurants, and community spaces, reshaping the area’s riverfront.
This is the second major funding the project has received. Last year, Indiana's READI 2.0 program made a $6.5 million investment into the project.
“The Lilly Endowment grant, combined with the READI grant from Our Southern Indiana RDA, is the result of more than four years of planning, investment, and due diligence by ACBL and its stakeholders," George Piccioni, vice president of business development at American Commercial Barge Line (ACBL).
The redevelopment project is "a major opportunity to create new jobs, drive economic growth and strengthen the southern Indiana region for generations to come," the release said.
The next phase of the redevelopment project is preparing the site for future development in coordination with The Wheatley Group and Thrive Companies, firms helping with the concept and real estate development.
Jeffboat officially announced its closure in April 2018.
Other Business Coverage:
Haymarket by Ashbourne Farms plans to open second Louisville location
Southern Indiana bank being purchased by First Merchants Bank for $241 million
Don't Waste Your Money | From electricity to gas bills, the price of owning a home is soaring
Louisville pays $6M to settle discrimination complaint over affordable housing in Prospect
Copyright 2025 WDRB Media. All Rights Reserved.
