Santee Cooper approves $3 million industrial development loan to benefit Oconee County
MONCKS CORNER, S.C. – Santee Cooper has approved a $3 million loan to the Oconee Economic Alliance (OEA) for a 50,000-square-foot industrial speculative building to help Oconee County attract new businesses and jobs.
The loan was approved through the Santee Cooper Economic Development Loan Program. The spec building will be located within the Golden Corner Commerce Park, which is just two miles off Interstate 85 and just 60 miles from the Greer Inland Port. Blue Ridge Electric Cooperative will distribute electricity to the site.
Operating in its sixth year, Santee Cooper’s Economic Development Loan Program acts as a resource for localities served by Santee Cooper and the state’s electric cooperatives or municipal customers, to help those localities build spec buildings and other infrastructure attracting new industry. More than $80 million has been loaned through this program to date. Sigmatex in Orangeburg County, Wyman-Gordon in Dillon County and Coca-Cola Consolidated in Jasper County are among industries locating in buildings these loans helped finance.
“Promoting economic development is a pillar of focus at Santee Cooper,” said Pamela Williams, Santee Cooper senior vice president of corporate services. “Our loan program has helped South Carolina attract major manufacturers to the state, growing the job market for our residents and boosting the economy, and we believe the loan to Oconee Economic Alliance will build on that record, specifically in Oconee County.”
“Oconee County has had strong momentum along the economic development front over the last few years and this partnership with Santee Cooper will be a huge catalyst to ushering in a new wave of progress for the southern part of our community,” stated Christine Tedesco, board chair of the Oconee Economic Alliance. “We are extremely grateful to Oconee County Council, Blue Ridge Electric and Santee Cooper for allowing this financing opportunity to come together as it will put forth a much-needed industrial building that will yield new jobs and investment.”
Santee Cooper is South Carolina’s largest power provider, 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 or follow #PoweringSC.
The Oconee Economic Alliance is a public-private nonprofit effort to accelerate job creation and capital investment, increase per capita income, diversify the local tax base and generate awareness of Oconee County as a business location. To learn more visit www.InvestOconeeSC.com.