Wednesday February 18, 2004
Mayor Jerry Abramson today announced the transfer of the old Naval Ordnance Station property – now called Technology Park of Greater Louisville – to a city-appointed authority, clearing the way for a revitalization designed to attract more than 1,000 new jobs in retail, manufacturing and light industrial work.
Under the property transfer agreement, Raytheon Systems Co., a major U.S. defense contractor and the largest employer on the site, committed to extending its lease an additional 10 years. Raytheon also will add 130 new jobs in the next six months, Abramson said.
“The transfer of the site and Raytheon’s commitment are great news for Louisville, the region and state,” Abramson said. “The transfer allows us to develop a state-of-the-art park, and to continue to attract quality jobs.
And right off the bat, Raytheon is adding jobs.” The mayor said he envisions the park becoming a model for the revitalization of an old military facility with benefits for the local economy and the surrounding community. “We’re going to continue to work with the community to ensure that the park is a good neighbor and that the development supports community needs and desires,” he said.
Abramson praised Kentucky’s Congressional delegation, particularly Rep. Anne Northup, for working with the U.S. Navy to get approval of the transfer.
Northup said, “It has been my pleasure to partner with the city to bring about this important transfer. I was pleased to use my position on the Appropriations Committee and to work with the Navy to help facilitate the process, and I credit the Mayor's hard work in Louisville towards our combined goal of bringing good jobs to our community.”
The 142-acre park is home to 13 tenants that employee about 1,200 people. Those jobs are expected to remain at the site. Raytheon and another major defense contractor, United Defense, are the largest tenants.
The Louisville/Jefferson County Redevelopment Authority, which has leased the site from the Navy since 1996, selected Titan Research & Development LLC of Washington, D.C., in 2001 to manage and develop the property pending the transfer. The authority will hold title to the property, under the transfer agreement.
The revitalization plan calls for a multi-phase development that will include manufacturing facilities, office buildings and retail space. Industrial property would also be available.
For 55 years, the property operated as the Naval Ordnance Station and had a peak employment of 4,000. In 1996, the Navy closed the base. Community efforts allowed it to reopen as Technology Park.
Titan Project Director Jeff Cahall said the property’s central location and easy access to major interstate highways, Louisville International Airport, rail lines, and the Ohio River are key assets. “This project is all about generating good jobs for the community and a lot of the park’s features make it attractive to potential tenants.
“We’re excited about Louisville and about making this park a success for the community,” Cahall said. “We’re looking forward to seeing great things happen.”