Santee Cooper approves $3M loan to construct new spec building in Oconee County

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The Oconee Economic Alliance has received a $3 million loan from Santee Cooper to construct a 50,000-square-foot industrial speculative building.

The building will be located within the Golden Corner Commerce Park, which is 2 miles off Interstate 85 and 60 miles from the Greer Inland Port, according to a news release. Blue Ridge Electric Cooperative will distribute electricity to the site.

“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,” said Christine Tedesco, board chairwoman 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.”

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 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.”

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