Santee Cooper Loan Makes Quick Return
The smell of "sweet" success is wafting over Laurens County, which is now home to a baking manufacturing facility, thanks in part to a $3.25 million Santee Cooper economic development loan to the Laurens County Development Corporation (LCDC).
LCDC used the Santee Cooper loan to start constructing a speculative building. That foresight paid off when Muffin Mam recently announced it is moving into that building to further increase production of the baker’s tasty treats.
Muffin Mam said it chose this site because the engineering had already been completed and construction had begun. The wholesale bakery will complete the building and LCDC will repay the loan when construction is complete.
Muffin Mam is a baked goods manufacturer specializing in crème cakes, pound cakes, angel food cakes and gourmet muffins, and headquartered in Simpsonville, South Carolina. It provides goods to some of the world’s largest retailers and food service outlets. Muffin Mam is investing $18.8 million and is projected to create 114 jobs.
The 100,000-square-foot manufacturing building is located in the Hunter Industrial Park.
Providing economic development loans is another way Santee Cooper is powering South Carolina. The continued success relates to joint efforts between Santee Cooper, the state’s electric cooperatives, our municipal customers and the SC Power Team on initiatives, loans and grants. Since 1988, through these efforts, Santee Cooper has helped secure more than $15 billion in capital investment and 80,335 jobs across South Carolina.
Collectively, 2018 efforts resulted in 34 location announcements, $827.5 million in capital investment and 3,903 new jobs – and we’re poised for more announcements like Muffin Mam’s in 2019.
For more information on Santee Cooper’s economic development efforts, visit PoweringSC.com.