The long-anticipated redevelopment of the historic Jeffboat shipyard in Jeffersonville, Indiana, has taken a major leap forward with the approval of a $20 million state grant from the Lilly Endowment Inc. The announcement, made by the Indiana Economic Development Corporation (IEDC), brings total state funding dedicated to the project to $26.5 million.
In December 2024, the Jeffboat redevelopment received a $6.5 million award through the READI 2.0 program—short for the Regional Economic Acceleration and Development Initiative. The latest influx of funding significantly accelerates the transition of the former industrial site into a modern, mixed-use development.
Jeffersonville Mayor Mike Moore expressed both relief and excitement over the grant, emphasizing just how significant the award is for the city.
“This is exactly what this project needs to take off,” Moore said. He explained that community interest in Jeffboat’s future has been consistent throughout his time in office. “I’ve had 173 neighborhood meetings since I’ve been mayor, and the past five years, the number one question that gets asked of me is 'When’s Jeffboat going to happen?'"
Moore stressed the competitive nature of the award and the pride felt by local leaders. "There were cities and counties all across the state of Indiana trying to get this money, so when the governor and the IEDC board weigh every other project across the state and they say, 'We want to give $20 million to Jeffersonville for this project,' it's an incredible feeling."
According to Moore, the site is already progressing behind the scenes. Environmental testing has been completed, and permitting is underway. With fresh funding secured, demolition of aging infrastructure is next.
“This money will help to take down some of the old metal buildings that are on the site,” he said. “They’re going to be bringing in a whole lot of dirt.”
Local business owners are cautiously optimistic. Jim Richards, owner of Cast Iron Steakhouse on East Market Street, directly across from the former shipyard, said the grant could be the momentum the project needs. “I believe it’ll help speed up the process," Richards noted. “When the wheels start turning, I’ll get really excited.”
The master plan for the 80-plus-acre riverfront site is being led by Thrive Companies, a Columbus-based developer. The envisioned redevelopment includes:
Richards views potential competition as a win for the area. “Competition’s always good. It just brings more people to the area.”
The shipyard, once the largest inland boat-building facility in the United States, has remained inactive since its closure in 2018. The redevelopment represents not only an economic and cultural revitalization opportunity but also a way to reclaim industrial riverfront land for residential and public use.
With permitting and initial site clearance on the horizon, the latest funding announcement marks the most significant step yet toward transforming Jeffboat from a vacant industrial site into a new urban hub.
Originally reported by Alexandra Goldberg in WHAS 11.
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