Santee Cooper board OKs loans

  • Saturday, August 30, 2014

The Santee Cooper Board of Directors has approved $10.85 million in loans to advance four commercial and industrial development projects that will benefit rural South Carolina.

The utility announced the loans in a Monday release.

The loans support projects representing a total $23.5 million in infrastructure investment when local financing is included.

Projects receiving the funding are located in Beaufort, Orangeburg, Calhoun and Jasper counties.

“Industrial site selectors tell us over and over that what they need most in locating a new plant is a building that’s already in the ground,” said Lonnie Carter, Santee Cooper president and CEO.

“Santee Cooper’s board demonstrated again today its commitment to helping create opportunities for industrial expansion and good, high-paying new jobs, especially for rural communities that so critically need them.”

Approved are a $4 million loan to Beaufort County to build a 40,000 square foot commercial building in the county’s Myrtle Park Industrial Park; a $4 million loan to Orangeburg County, to build a 75,000 square foot industrial building in the county’s Matthews Industrial Park; a $2 million loan to Calhoun County, to help build a 50,000 square foot industrial building in the I-26 Industrial Park; and an $850,000 loan to Jasper County, to help build a 40,000 square foot industrial building that could be expanded to 100,000 square feet.

To learn more, visit www.santeecooper.com.


Notice about comments:

The Gazette is pleased to offer readers the enhanced ability to comment on stories. We expect our readers to engage in lively, yet civil discourse. We do not edit user submitted statements and we cannot promise that readers will not occasionally find offensive or inaccurate comments posted in the comments area. Responsibility for the statements posted lies with the person submitting the comment, not The Gazette.

If you find a comment that is objectionable, please click "report abuse" and we will review it for possible removal. Please be reminded, however, that in accordance with our Terms of Use and federal law, we are under no obligation to remove any third party comments posted on our website. Read our full terms and conditions.

Upcoming Events
 Latest News
Print Ads

The Gazette

© 2015 The Gazette an Evening Post Industries company. All Rights Reserved.

Registration on or use of this site constitutes acceptance of our Terms of Service, Privacy Policy and Parental Consent Form.