Indiana is withdrawing from purchasing land for a fourth port. This comes three years after an agreement to potentially purchase the land was first signed.

Gov. Eric Holcomb said, in a statement, after evaluating the environmental condition of the land and how long it would take to remediate it, state officials found the purchase is not a viable economic option.

The former American Electric Power plant site sits along the Ohio River close to Cincinnati.

Ports of Indiana President Vanta Coda said in a statement the decision came “after a careful overall analysis” and echoed the governor’s disappointment.

The state currently has three ports with both Mount Vernon and Jeffersonville located along the Ohio River and Burns Harbor located on Lake Michigan.

Combined, they bring in nearly $8 billion a year to the state’s economy.

Holcomb said he will continue to work with officials to find a location for a fourth port in southeast Indiana.

Contact reporter Samantha at shorton@wfyi.org or follow her on Twitter at @SamHorton5.