The funds are in addition to the $1.027 million from the federal Economic Development Administration and the Appalachian Regional Commission awarded to the county in August.
"If we're going to have a business park, we certainly need the infrastructure," Shuster said. "I'm glad we could push this through."
The money is needed to install about 45,000 feet of water and sewer pipes to connect the business park with the municipal water and sewer system, said Margaret Taylor, director of the Fulton Industrial Development Authority.
"This means we're one step further," Taylor said.
Besides the extension of the water and sewer lines, the $3.2 million project calls for interior road construction, including a connector road between Cito Road and U.S. 522, and land acquisition.
Digging and construction won't begin until all of the financing is in place, Taylor said.
Preliminary plans show 25 lots on the site, which will hold businesses, manufacturers, other services and warehouses.
The county has already received nearly that many inquiries this year from companies interested in locating in the business park, Taylor said.
An estimated 400 new jobs are expected to be created as businesses move in over the next three to five years, Shuster said.
The new industrial park will give Fulton County the opportunity to diversify its economy by offering space to local and outside businesses, said Donald Bard, president of the Fulton Industrial Development Authority.
"In the past we have been hampered when a company calls or someone local wants to start a business," Bard said. "With the development of the business park we will be in a better position to help local business owners to expand and to respond to companies that are interested in locating here."
The recent layoffs by JLG Industries Inc., the closings of Fort Ritchie in Maryland and several local textile plants, and the downsizing of Letterkenny Army Depot, "made the creation of an industrial park all the more important," Bard said.
The planning process for an industrial park began in 1992 with the full support of the county commissioners, Bard said. The project was then handed over to the county's Industrial Development Corporation in 1995.
The park's permitting should be approved and the financing in place by this winter.
The construction project will likely be put out to bid next spring, Taylor said. Development within the park will take place over the next 10 years.