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| Fayette County Business Park |
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Accomplishments
The many accomplishments at the Fayette County Business Park include:
Construction and Installation of Public Infrastructure
- Utilized an initial $2 million investment from Fayette County to leverage an additional $15 million in other local, state, and federal sources.
- Installed all public utilities underground – water, sanitary sewer, storm sewer, electric, gas, phone, and cable.
- Constructed Mathew Drive Extension – A major 4-lane roadway that runs through the Business Park and provides access to the Mon-Fayette Expressway.
- Constructed interior roads – Wayland Smith Drive, Jacob Murphy Lane, and Mary Higgins Lane.
Private Investment
- Over $55 million invested by current tenants (professional offices, Super 8 Motel, Cedarwood Development, and Synergy Development).
- Total approximate number of jobs created or retained: 850.
- Total number of jobs anticipated to be created or retained upon Full Build-Out: 1,772.
Increased Land Values and Taxes
- Pre-Development Land Value = $275,000.
- Current Land Value = Over $33 million.
- Pre-Development Property Taxes = $0.
- Current Property Taxes = Over $610,000 annually.
- Other Taxes Generated = Over $5.5 million annually.
- Projected Land Values at Full Build-Out = Over $100 million.
- Projected Property Taxes at Full Build-Out = $1.75 million annually.
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