While many people come to Wayne and Pike counties for recreation, the area also offers excellent commercial opportunities. COMMERCIAL ACTIVITY IS INCREASING Up until the late 1950’s, dairy farming, lumber and silk were the main industries in the two counties. Then, the second home and recreational market started to take the spotlight. In response, resorts, hotels, motels and recreational communities started appearing, especially in the areas surrounding Lake Wallenpaupack. The next wave of commercial development is underway, according to statistics developed by the Wayne County Economic Development Corporation. Wayne County is now the site of an active business park that is strategically located with easy access to I-84, I-380 and I-81. There is movement toward developing additional commercial and public transportation, and new hotel construction is underway. Wayne and Pike counties are in a prime location to access the markets that will feed the residential and commercial growth. New York City is 2.5 hours away; Hartford, Harrisburg and Philadelphia are 3-3.5 hours away; Boston and Washington DC are within 5 hours. That puts half the population and total production of the entire country within one day’s travel. NATURAL GAS RESERVES WILL MAKE THE LOCAL ECONOMY EXPLODE One of the most exciting things that will affect the commercial market in Wayne and Pike counties is the impact the natural gas industry will have. Energy companies are now vying to acquire rights to the natural gas deposits in Wayne and Pike counties. The large reservoir of natural gas in the area has never been tapped. Recently, though, geologists and energy companies have developed a way to extract the gas from the rock formation known as the Marcellus Shale. The exact impact on the local economy can’t be determined until the gas is actually out of the ground. But, local business leaders are excited by the researchers’ projections. The projections are that each $1 billion in royalty income would create almost 8,000 jobs and increase the local population. The gross Pennsylvania state product would increase by more than $500 million per year. NOW IS THE TIME TO GET INVOLVED!  The commercial opportunities in Wayne and Pike counties are increasing steadily. For example, I’m offering commercial property related to a new development that will include hotel, restaurant and office space. Use the form below to receive a copy of the presentation for this development via instant email. This report contains information about the development, the economic development environment and facts about the region. Whether you’re looking for a property for your existing business or an investment, I can provide you with the information and insight you need to make an informed decision. Call me at 570-226-3444 or send an email to get the experienced and expert assistance that will fulfill your requirements! Jim Marshall |