Santee Cooper approves $5 million in industrial development loans
December 10, 2014
MONCKS CORNER, SC – The Santee Cooper Board of Directors approved $5 million in loans today to advance industrial development projects that will benefit Anderson and Orangeburg counties, bringing to $25.8 million the total amount awarded through Santee Cooper’s economic development infrastructure loans this year.
Since 2012, Santee Cooper’s loan program has awarded $48 million to help advance 23 infrastructure projects, mostly industrial buildings, across South Carolina.
“We know that if you build a building, industry will come,” said Lonnie Carter, Santee Cooper president and CEO. “Wyman-Gordon announced a new plant in Dillon County in October, bringing 400 jobs to a building that Santee Cooper’s loan program helped build. Today, our board approved a loan to construct a building that has a tenant already waiting, Sigmatex. I’m pleased Santee Cooper continues to play a role in bringing such advanced manufacturing leaders as these to rural South Carolina.”
Approved are:
- A $4 million loan to Orangeburg County to construct a 75,000 square foot industrial building that will house a new plant announced in October by Sigmatex, a leader in the manufacturing of carbon fiber textiles for the aerospace and automotive industries. Sigmatex has announced an investment of $12 million and creation of 50 jobs associated with this project. The building is in the Matthews Industrial Park and is served by Tri-County Electric Cooperative.
- A $922,500 addition to an existing loan to Anderson County, due to a project expansion in land acquisition and construction needs associated with building a 50,000 industrial building in the Alliance Industrial Park there. Santee Cooper’s board initially approved a $1.8 million loan for this project in August 2013, and today’s action brings the total amount to $2.7 million. Blue Ridge Electric Cooperative provides electricity to the park.
Santee Cooper
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.
