Ryan McCoy

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.

The Ports of Indiana's mission is to generate economic growth, employment, and tax revenue for state and local governments. It serves as an economic engine by guiding businesses into the state, connecting them globally, and creating local job opportunities. The organization is dedicated to growing Indiana's economy and being a good neighbor through community engagement.

The meeting included discussions of litigation, leases, personnel issues, and other confidential material in an executive session. Action items included the delegation of authority to the CEO for a bid award for repairs to flood-damaged rail in Mount Vernon and for slag remediation from Parcel 2LO14 in Burns Harbor. The commission also approved the 2026-2028 Capital Budget, delegated authority to the CEO to execute the 2026 Insurance Renewal, and approved Resolution 25-01, which updated the Ports of Indiana Bylaws.