The RiverWoods Research and Business Park in northeast Provo has its first major tenant.
Dynix, a worldwide library automation company, announced Monday it will purchase 25 acres in the park and build a 90,000-square-foot to 96,000-square-foot building. Construction is to begin this summer and be completed by April 1992. The company is currently located in the East Bay Business Center in south Provo."Dynix is placed in this valley by choice. We want to be here," said Paul Sybrowsky, company president. The 8-year-old company was founded in Utah and has offices in Canada, England, Australia, New Zealand, Ireland and Singapore. About 350 of Dynix's 450 employees work in Provo.
Sybrowsky said Dynix has outgrown its home in East Bay. RiverWoods, he said, gives the company space to grow.
According to the Utah Valley Economic Development Association, Dynix is the fourth fastest growing high-tech company in Utah County (System Connection was ranked first), and in 1988, the company employed 78 people. It is also the sixth largest high-tech company in the county, according to UVEDA. (WordPerfect, also in Utah County, is the nation's largest.)
Mayor Joe Jenkins said without the new business park, Provo might not have had room for the rapidly expanding company.
RiverWoods developer Mike Hill said the 112-acre park will provide a "campus-like atmosphere" for businesses. The park, which has been in the development stages for the past two years, runs along the Provo River. Hill said the park will include bicycle, running and equestrian trails. The park is backed by private dollars, although the city helps market it.
Provo economic development director Gary Golightly said Dynix's move to the park could spur other growth. "We think some significant things are going to happen in the next six months," he said.
"We are negotiating with some other parties right now," Hill said. "We hope to fill this park with Utah County companies."
Hill said he wouldn't be surprised to also see out-of-state businesses locate in the park.
RiverWoods will provide Provo with a strong economic base and enhance its tax revenue, Hill said. Co-developer Terry Harward said studies show similar, complete business parks generate more than $750,000 a year for their cities. He estimated Provo School District will receive about $1 million a year.
Citizens living near the park are concerned about its impact on their neighborhood.
Jenkins said issues such as traffic circulation, air quality and the environment can be resolved through compromise. "We strongly believe that the project as conceived and planned will enhance the appearance and the quality of the general area, preserve the pristine nature of the Provo River environment and increase property values," he said.