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Pedersen has been involved with and supported Wayne State College and the Wayne community for nearly 40 years. Pedersen graduated from Wayne State in 1971 with a degree in business administration has owned the Diamond Center/Flowers and Wine since 1978. Pedersen has committed his time and support to Wayne State College as a Cat Club member, corporate sponsor, long-time season ticket holder, trustee of the Wayne State Foundation, executive committee member and past president of the Wayne State Foundation. He was awarded the 2007 WSC Alumni Achievement Award. A past member of the Wayne City Council and Planning Commission, Pedersen has served as president of the Wayne Area Chamber of Commerce and chairman for the Business Improvement District on the Main Street reconstruction project. Pedersen is also active as a member of Wayne Rotary Clubs and serves on the Providence Medical Center and Little Red Hen Theater Board of Trustees.