ALLEN COUNTY, Ind. (WANE)- The Allen County Board of Commissioners and local economic development officials cut the ribbon Tuesday on the $6.3 million shovel-ready Stonebridge Business Park in southwest Allen County, according to a news release sent out by the commissioners.
“Stonebridge is a needed product and along with the streamlined permitting process puts the county in a competitive position to compete for projects,” said Commissioner Therese Brown.
The commissioners said that in 2010, county leaders set aside funds for land banking after recognizing that the community was lacking large tracts of development‐ready land.
That same year, the Allen County Redevelopment Commission purchased land that was formerly called Silverado Industrial Park. The land is off of I‐69 near General Motors and Vera Bradley.
The commission invested over $6 million after the purchase of the land toward constructing new streets, extending water and sewer lines, and designing a regional storm water system to eliminate the need for individual lot owners to install retention ponds.
The land was then renamed Stonebridge Business Park and contains 12 shovel-ready lots, the commissioners said.
“The new business park is a great tool for retaining and expanding new businesses,” said Greater Fort Wayne Inc. CEO Mark Becker.
Earlier this year, leaders announced the expansion of Lafayette Center Road between I‐69 and US 24 in Allen County and Huntington County. That expansion is meant to improve the transportation infrastructure near the new business park, which leaders hope will help attract more companies and jobs to the park.