The Fayette County Business Park represents a cooperative public-private effort to foster economic development and create quality employment opportunities. Located in the Route 40 and New Salem Road area of North and South Union Townships in Fayette County, the 270-acre site is now home to nearly 30 shops, restaurants, and professional office building complexes.
The Business Park's development began in 2000 when the Fayette County Commissioners conveyed a vacant parcel of land in South Union Township to the Authority. This decision was made in part because of the Authority's vast experience with implementing community development and infrastructure-related projects. In addition to conveying the property, the Commissioners also provided $2 million through the Fayette County Bond Pool to fund the Business Park's initial infrastructure. The Redevelopment Authority and South Union Township also helped to fund this phase of development, and this local investment, in turn, helped the Authority to leverage other state, federal, and private-sector resources.
In 2008, the Redevelopment Authority secured new resources to support the growing Business Park by issuing $6 million in bonds to further infrastructure expansion and development. Supported by an $8.1 million commitment through the Pennsylvania Infrastructure Facilities Improvement Program (IFIP), this was the first bond issuance ever undertaken by the Authority in its 60 year history.
Recent development at the Business Park includes the construction of a new Fayette Area Coordinated Transportation (FACT) Transit Center. This full-service facility will include a waiting and ticketing area, office space, and a park and ride lot. In addition to the Transit Center, the Authority is implementing a Traffic Signal project that includes adding a traffic light to the intersection of Wayland Smith Drive and Matthew Drive Extension and adding sidewalks to Wayland Smith Drive.
With over two-thirds of the Business Park developed, the Redevelopment Authority is now planning the final development scenarios for the remaining undeveloped land and continuing to look at innovative ways to leverage public and private resources.
Matthew Drive Extension Project