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.

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