Santee Cooper Approves $9 million in Loans for Five Industrial Development Projects Across State
June 23, 2014
MONCKS CORNER, SC – The Santee Cooper Board of Directors approved $9 million in loans today to advance five industrial development projects across the state.
The loans support projects representing a total $17.5 million in infrastructure investment when local financing is included. The projects benefit job recruitment in Bluffton, Rock Hill and the counties of Aiken, Clarendon and Dillon.
“With today’s board actions, Santee Cooper has now invested more than $32 million in industrial infrastructure loans since 2012. Through these loans, we are helping local, often rural, communities build facilities that will attract modern industry and create good jobs for South Carolinians,” said Lonnie Carter, Santee Cooper president and CEO.
Approved for loans are:
The Economic Development Partnership of Aiken and Edgefield Counties, $3.3 million to help build a 100,000-square-foot industrial spec building in Sage Mill Industrial Park. Existing park tenants include Bridgestone and Genco. Total project cost is expected to be $6 million, and Aiken Electric Cooperative will provide electric service to the building.
Bluffton Public Development Corp., $1.8 million to help purchase 55.9 acres in the Buckwalter Place Multi-County Business/Industrial Park. Total project cost is anticipated to be $3.6 million, and Palmetto Electric Cooperative will provide electric service. Other park tenants include Don Ryan Center for Innovation and CareCore National.
Business Development Corp. of Clarendon County, $850,000 to help build a 50,000-square-foot building in the Clarendon County Industrial Park. Nearby tenants include Advantage Southeast and Powell Valves. Total project cost is expected to be $2.45 million, and Santee Electric Cooperative will be electricity provider.
Marlboro Development Team Inc., $1.3 million to help build a 15,000-square-foot building in the Northeastern Commerce Center in Dillon County. Total project cost is $2.2 million and Marlboro Electric Cooperative will provide electric service.
Rock Hill Economic Development Corp., $1.8 million to help build a 40,000-square-foot building in Waterford Business Park, which is already home to 3D Systems, Chicago Pneumatic Tool Co. and others. Total project cost is expected to be $3.3 million. This loan falls under a program previously approved by the Santee Cooper board for municipal customers and was presented for information purposes.
Santee Cooper is South Carolina’s largest power producer, the largest Green Power generator and the ultimate source of electricity for 2 million people across the state. Through its low-cost, reliable and environmentally responsible electricity and water services, and through innovative partnerships and initiatives that attract and retain industry and jobs, Santee Cooper powers South Carolina. To learn more, visit www.santeecooper.com.
