Lockhart Power Surpasses the $1 Million Mark in Economic Development Contributions to Union County
December 29, 2014
LOCKHART, SC – Lockhart Power Company announces a record-setting $145,000 contribution of utility license tax credit funds, bringing its total to more than one million dollars reinvested in Union County since 2001. This year’s funds will be applied toward road improvements at Midway Green Industrial Park, a 100+ acre site located at 265 Midway Drive in Union, South Carolina.
A utility license tax is applied by the state of South Carolina to the gross receipts and assets owned by certain utilities in the state, including those of Lockhart Power. While this tax is normally paid by the utility directly to the state, there is an option for the utility to receive a tax credit for any amount it contributes toward providing infrastructure for qualified economic development projects. Lockhart Power has elected to contribute the entire amount of its projected 2014 utility license tax liability to the Midway Green Industrial Park road enhancement project, for the benefit of Union County and surrounding residents and businesses.
“We are pleased that we are able to earmark these funds, that would typically go to the state, to reinvest in our own community,” said Bryan Stone, chief operating officer of Lockhart Power. “These improvements at Midway Green Industrial Park will extend the county road to new industrial sites, helping to spur economic activity and innovative projects at the park.”
Midway Green is a SC Department of Commerce Certified Industrial Park that touts high reliability and low cost power provided by Lockhart Power, which has more than ninety-nine percent of its power generation from renewable resources. This industrial park has the additional ability to be served by renewable landfill gas, which can be used for on-site generation or direct thermal use for industrial heating, with residual heat resulting in low pressure steam and hot water. Furthermore, the adjacent wastewater treatment plant can provide treated greywater for industrial process needs. The site is ideal for manufacturers that are large consumers of electricity and other utilities, and who are concerned with their environmental footprint.
“Lockhart Power’s contributions over the last thirteen years have helped Union County become a stronger, better place for business, and we are grateful for their generosity,” said Andrena Powell-Baker, executive director of the Union County Development Board. “This year’s allocation of $145,000 in utility license tax credits for Midway Green Industrial Park improvements will bring a competitive advantage to Union as we work to attract additional industrial projects to our area.”
Lockhart Power has used its contributions to support a wide variety of projects over the last thirteen years that have created numerous jobs and tremendous investments in Union County. Some of those projects include several road improvements at Midway Green Industrial Park and Union Commerce Park; water, roadways and fire protection at Dollar General; wastewater and roadway improvements for Gestamp and Gonvauto, and much more.
About Lockhart Power Company
Lockhart Power Company is an investor-owned public utility servicing the Upstate of South Carolina since 1912, with 99 percent of its power generated from renewable sources. Lockhart Power provides reliable and cost-effective electric service to its retail and wholesale customers, while also providing renewable energy to the City of Columbia and Duke Energy Carolinas.
