Jody Peacock

The Commission reviewed operational updates, including record business growth despite challenges in the maritime sector and international trade. Key performance indicators showed strength in rail and real estate, while investments in infrastructure modernization were highlighted. Discussions also covered new business attraction, expansions at various port facilities, and the establishment of a new European trade representative to boost international commerce. The meeting concluded with the administration of an oath of office for a new commissioner.

The meeting included an executive session for the discussion of litigation, leases, personnel issues, and other confidential matters. During the public session, the commission administered the oath of office to a new commissioner. Action items included approval of a lease amendment for the Indiana River & Rail Terminal, the ratification of a real estate purchase agreement for 42.92 acres in Mount Vernon, and the approval of a lease amendment for the Consolidated Grain and Barge Co.

The agenda includes an executive session to discuss litigation, leases, personnel issues, and other confidential materials. The public meeting covers the swearing-in of a new Commissioner, business updates for the Ports of Indiana and the Jeffersonville port, and general business items regarding lease amendments and real estate purchases at the Mount Vernon port.

The meeting commenced late, addressing procedural matters including the anticipated election of officers and filling a vacancy for the chairman position, which was scheduled to coincide with the annual meeting segment. The session included a quorum confirmation and compliance check with Indiana's open door law, noting the meeting was live-streamed. New commissioners, John Williams and S. Michael Simmons, were formally introduced, detailing their professional backgrounds and public service history before they took their oaths of office. A public comment period yielded no participants. The CEO provided a comprehensive business update highlighting significant capital investments planned for port infrastructure, noting a 500% increase in 5-year CAPEX compared to the previous period, and seven port companies expanding across all three ports. While overall revenue is on a record trend, cargo volume was down 50% year-to-date, primarily due to external factors like world trade issues affecting steel and coal shipments, though operations like rail traffic and property leases increased. The organization achieved an A3 bond rating, a first in its history, indicating strong financial capacity for future growth. The session concluded with a presentation by the new Foreign Trade Zone Director, Ken Evang, detailing the benefits of the Foreign-Trade Zones program for importers and the statewide economic impact expected from expanding its utilization across Indiana.

The Ports of Indiana Commission meeting included discussions and actions on several key items. The CEO was delegated authority to negotiate and execute lease amendments with Ag Depot LLC and Nutrien U.S. for expansions in Mount Vernon, and with Idemitsu Lubricants America Corporation for a site in Jeffersonville. The award of a contract for General Cargo Facility Upgrades in Jeffersonville to Parco Constructors Group, LLC was approved, and the 2026 Operating Budget was also approved. Furthermore, a slate of officers for 2026 was nominated and approved, the Chairman was delegated authority to negotiate and execute employment contracts, and Ports of Indiana staff were tasked with preparing a draft Commission Code of Conduct.