The East Ridge Industrial Development Board on Monday approved moving ahead with a major project near I-75 Exit 1 that is expected to double the city's tax take.
The Jordan Crossing development at the entrance to Camp Jordan was included under the state's Border Region Designation. It will allow East Ridge to utilize 75 percent of the state’s portion of the sales tax generated from the development and sales tax collected in the entire 950-acre district to pay for incentives and/or infrastructure improvements used to make the development possible.
Jordan Crossing got a huge boost recently when it was announced that it will include a Bass Pro Shop.
Estes Cocke, an attorney who is a member of the board, said Jordan Crossing is expected to produce as much revenue as is brought in all along Ringgold Road.
He said East Ridge was the first to apply for the Border Region Designation and the last of five to be approved.
East Ridge officials in 2012 received word that a tract of 950 acres inside the city has been designated as a border region retail tourism development district by the Tennessee State Commissioner of Revenue and the Tennessee Commissioner of Economic and Community Development under a new state law. The designation was approved after the city made application under a city ordinance adopted Oct. 26, 2011.
The district comprises the areas around Exit One, the I-75/I-24 interchange, the East Ridge central business district along Ringgold Road, Germantown Road and the area of East Ridge on the north side of I-24 along Germantown Road.
The East Ridge Industrial Development Board had been defunct, but it was revived so it could act on the Border Region Designation. State officials said that was a required part of the process.
Land preparation has already begun for the project.