Lockhart Power gifts $135,000 to support economic development in Spartanburg County

Lockhart Power Co. announced Monday, Feb. 12, it will contribute $135,000 in utility license tax credits for road enhancements at Tyger River Industrial Park (TRIP) North in Spartanburg County.

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From left: Carter Smith, executive vice president of Spartanburg's Economic Futures Group, accepts a check from Bryan Stone, chief operating officer for Lockhart Power, and Andrena Powell-Baker, senior manager of community relations for Lockhart Power. Photo courtesy of Lockhart Power.

Lockhart Power Co. announced Monday, Feb. 12, it will contribute $135,000 in utility license tax credits for road enhancements at Tyger River Industrial Park (TRIP) North in Spartanburg County.

TRIP North is the 887-acre northernmost tract of the 2,250-acre industrial park owned by Greenville-based Pacolet Milliken Enterprises off Highway 290 in Moore.

The park is an S.C. Department of Commerce Certified Industrial Park that boasts access to a CSX rail line, highways 221 and 290, and interstates 85 and 26.

“Lockhart Power understands the importance of investing in economic development projects in communities we serve,” said Bryan Stone, chief operating officer of Lockhart Power, in a statement. “These investments create a substantial environment for business in Spartanburg County, which will benefit from them for years to come.”

Since the park was opened for development in 2014 it has several large economic development projects for companies that include Toray, Ritrama, Kobelco, Sterling CPI, and Magna Seating.

Those projects have resulted in nearly $2 billion in new investment and the creation of hundreds of jobs.

TRIP North is home to Magna Seating’s new $29 million, 230,000-square-foot plant.

Lockhart Power said further road enhancements and infrastructure investment will “help attract other world-class companies.”

The utility said the license tax is applied by the state to the gross receipts and assets owned by certain utilities in South Carolina, including Lockhart Power.

While the 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.

The $135,000 contribution is the sum of Lockhart Power’s entire 2017 utility tax liability.

“Lockhart Power has proudly reinvested in the communities it serves over the years to support job growth and the Upstate economy,” said Rick Webel, president of Pacolet Milliken, in a statement. “The investments improve conditions for business and ensure the future economic prosperity of the region.”

Founded in 1912, Lockhart Power is a wholly owned subsidiary of Pacolet Milliken.

The utility is investor-owned and regulated by the South Carolina Public Service Commission and the Federal Energy Regulatory Commission.

According to Pacolet Milliken’s website, Lockhart Power serves five South Carolina counties, providing power generation, transmission, distribution, and lighting services to a range of residential, commercial, industrial, and wholesale customers.

Lockhart Power owns and operates five run-of-the-river hydroelectric projects as well as several Landfill Gas-to-Energy projects. It provides renewable energy to Duke Energy Carolinas.

Pacolet Milliken said since 2007 it has more than doubled the size of Lockhart Power.

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