Fay-Penn honors BAE’s Fox with economic award
Fay-Penn Economic Development Council has presented its 2006 Eberly Economic Development Award to Deborah Fox, manager of the BAE Systems plant in the Greater Uniontown Business Park on Route 119 north of Uniontown. BAE rehabilitates used military equipment so it can be rotated back into active service.
Fay-Penn also offered 2006 Eberly Education awards in the form of recognition to initiatives at the six school districts serving students in Fayette County.
Both actions were made at Fay-Penn’s annual dinner meeting Thursday at Nemacolin Woodlands in Farmington.
Speakers for the event were F. Michael Langley, Allegheny Conference on Community Development CEO and J. Bracken Burns Sr., Washington County commissioner. Both men spoke about the importance of regionalism in fostering growth and solving problems within a 10-county southwestern Pennsylvania region.
Fay-Penn also presented its treasurer’s report and gave a review of its progress over the past year and since it was formed in 1992.
James Foutz, Fay-Penn treasurer, said the organization has about $20.7 million in net assets and $31.4 million in net assets and liabilities. This includes a revolving loan fund of about $12.1 million that is used to help new and local companies grow.
George Rattay, Fay-Penn secretary, said the organization has complete 13 projects over the past year that resulted in 651 jobs created and retained; an increase of about $16 million in annual payroll; an increase of more than $674,000 in local taxes; and new investment of more than $22 million.
Rattay said Fay-Penn since its inception in 1992 has complete 212 projects that generated more than $4.7 million in new taxes and resulted in more than $800 million in new investment in the county. Under job creation and retention, Fay-Penn counts 6,733 positions since 1992.
Fay-Penn also maintains a Fayette Capital Loan Fund, Loan Guarantee Program, Tourism Revolving Loan Fund, Enterprise Zone Loan Fund, Workforce Development Loan Fund, Residential Development Loan Fund and a Downtown Revitalization Loan Fund.
Programs Fay-Penn administers or participates in include the Fayette Enterprise Community, tourism development, downtown revitalization, and REACH (Reaching Educational Achievement with Community Help). More information on Fay-Penn and its programs can be obtained by calling 724-437-7913 or visiting its Web site at www.faypenn.org.