Santee Cooper approves $3.6M in loans for Laurens County industrial parks

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The Laurens County Development Corp. has been awarded a $3.25 million loan from Santee Cooper to construct a 75,000-square-foot industrial building.

The building will be located within Hunter Industrial Park at the intersection of Interstate 385 and U.S. Highway 221 in Laurens, according to a news release.

The park is owned by the Laurens Commission of Public Works, a municipally owned utility that provides the park with power, natural gas, and water service.

A primary source of LCPW’s electricity is the Piedmont Municipal Power Agency, which receives a portion of its power needs from Santee Cooper.

LCPW has previously invested $2.5 million into this park through land purchase, construction of roadways, and water, and wastewater improvements.

The city of Clinton has also received a $385,500 grant from Santee Cooper for road improvements at the Clinton 26 Commerce Park.

The grant represents 50 percent of the project’s cost, with matching funds coming from the Clinton Development Corp. and the Laurens County Development Corp., according to a news release. It will allow the park’s roadway to be extended 975 feet, which will open up an additional 90 acres of property for industrial development.

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 the program, according to a news release. Sigmatex in Orangeburg County, Wyman-Gordon in Dillon County, and Coca-Cola Consolidated in Jasper County are among the companies located in buildings these loans helped finance.

“Promoting economic development is an integral part of Santee Cooper’s mission,” said Pamela Williams, Santee Cooper’s senior vice president of corporate services, in a statement. “Our economic development programs have helped South Carolina attract major manufacturers to the state, growing the job market for our residents and boosting the economy. We believe we can help Laurens County continue to build on that record.”

For more information, visit www.santeecooper.com.

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