Fay-Penn Economic Development Council is investing $5.7 million to develop the Dunbar Township Business Park, PA

Fay-Penn to invest $5.7 million in new business park
Posted: Sunday, September 23, 2012 2:00 am | Updated: 11:36 pm, Sat Sep 22, 2012.

By James Pletcher Jr. HeraldStandard.com

Posted on September 23, 2012

Fay-Penn Economic Development Council is investing $5.7 million to develop its latest acquisition, dubbed the Dunbar Township Business Park.

At its quarterly board meeting Friday, Tina Wargo, Fay-Penn asset and contract department manager, updated the board of directors on the status of the project.

In February, Fay-Penn purchased 207 acres along Route 119 north of Laurel Mall in Dunbar Township and is in the process of negotiating to buy an additional 104 acres to create a 311-acre business park, Wargo said. Of that acreage, about 250 acres will be salable, she added.

She estimated the new business park could provide numerous lots from 3.8 to 10 acres to businesses that could employ as many as 1,100 people.

Wargo said final plans for the first phase of the project are nearing completion.

Part of the project calls for building a 22,000-square-foot single-occupancy spec building on 7 acres at a cost of about $1.5 million. Work should begin in the spring.

Wargo said the total cost to purchase the land and develop the park is about $5.7 million.

Wargo said Fay-Penn also is preparing to build two more spec buildings at its Fayette Business Park in Georges Township, one 12,000 square feet and the other 15,000 square feet on a shared lot.

She added Fay-Penn will seek financial assistance from the Pennsylvania Industrial Development Agency (PIDA) for the projects.

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