Tuesday July 29, 2008
Businesses in the Park Hill Industrial Corridor will meet with Louisville Metro Economic Development officials tomorrow to discuss potential physical changes to a 1,400 acre area that the city envisions as a new-generation job hub for Louisville.
“Businesses generally plan their growth within the context of the limitations of their location. We’re giving these companies the opportunity to do the opposite, and to think creatively with us about what physical changes in this corridor can help their businesses grow,” said Bruce Traughber, director of the Louisville Metro Department of Economic Development.
Last month the city launched a major initiative to transform the 1,400-acre Park Hill Industrial Corridor near downtown, Old Louisville, and several West Louisville neighborhoods into a revitalized business and industrial district. Currently the corridor is challenged by abandoned industrial sites, under-utilized and neglected property, and a disconnected road network.
Recent studies report the corridor has the capacity to generate 2,700 new jobs and $336 million in annual economic impact – and the city intends to capitalize on that potential.
“The input gathered at this meeting will feed into our implementation strategy to bring real change to this corridor, making it a significant contributor to our city’s economy,” Traughber said.
The implementation strategy will address business, retail and industrial opportunities, transportation and other infrastructure, green space and neighborhood connections.
City officials also hope tomorrow’s open-house style meeting will open the door for businesses in the Park Hill Industrial Corridor to collaborate with one another in the future.
“There are many productive business associations across Louisville, but tomorrow will be the first time many of these businesses have come together collectively,” Traughber said. “Some may not even be aware of the others’ existence. We hope to change that.”