South Carolina Power Team Sets Record Metrics
April 29, 2015
COLUMBIA, SC – South Carolina Power Team, its partners Santee Cooper, Central Electric Power Cooperative, and South Carolina’s 20 electric cooperatives reached record metrics for 2014 as a power system, resulting in nearly $1 billion in announced capital investment.
In 2014, South Carolina Power Team:
- Announced 34 projects, $924 million in capital investment and 8,381 new jobs;
- Out of the State’s Top 10 Announcements for 2014, fifty percent by job creation and thirty percent by capital investment were in South Carolina Power Team service territory;
- Launched Site Readiness Fund-Phase I, funding five projects for $3.4 million (in matching funds) for projects totaling $15.3 million. These funds will help create market-ready sites for business and industry.
South Carolina Power Team’s new electric rate structure and Santee Cooper Electric Cooperative Fund (SCEDIF) resources were cited as contributing factors in a number of economic deals this past year. Whether recruiting a relocating business or supporting expansion of an existing industry, strong partnerships and reliable electric service have played a critical role in South Carolina Power Team’s abilities to exceed its 2014 Metrics.“Our 2014 record achievements are in part due to the new rate structure and incentive programs adopted by both Santee Cooper and the 20 electric cooperatives, making us one of the most affordable and reliable utility systems in the U.S.,” said Larry Hinz, chairman of the Board of Trustees, South Carolina Power Team. “Additionally, boosting momentum is our commitment to invest more than $30 million to match local funds to advance sites and buildings across SC to make them truly market-ready.”
“We are excited about the creation of 8,381 jobs this year in our service area,” said James Chavez, president and CEO of South Carolina Power Team. “As an organization, we are community-focused and have invested great resources into projects in our service territory. Last year, projects were announced in 13 of the 20 electric cooperative territories, as well as an announcement in Santee Cooper’s direct-serve territory,” Chavez said.
Fast Facts about South Carolina Power Team
- Helped bring $11 billion in announced capital investment and 63,000 new jobs since 1988
- Committing $30 million over the next five-year period, matched by local funds to create market-ready sites and buildings across South Carolina
- Largest power producer in South Carolina, serving two-thirds of the state
- Partners consist of Santee Cooper, Central Electric Power Cooperative and the 20 electric cooperatives
About South Carolina Power Team
South Carolina Power Team is a full-service, non-profit economic development organization representing the state-owned, electric and water utility, Santee Cooper and South Carolina’s 20 consumer-owned electric cooperatives. The mission of South Carolina Power Team is to facilitate the growth of jobs, investment and electric load through the attraction of new industrial and commercial activity, as well as, the expansion and retention of existing businesses and facilities in the service areas of the electric cooperatives and Santee Cooper throughout South Carolina.
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