MONCKS CORNER, S.C. – The Santee Cooper Board of Directors approved today a $2 million loan to Newberry County for construction of an industrial “shell” building that will help the county recruit new industry and create new jobs.
The loan enables Newberry County to build a 50,000-100,000 square foot shell building in Mid-Carolina Commerce Park, which the county owns. The park is served by Newberry Electric Cooperative, one of the 20 electric cooperatives that uses electricity generated by Santee Cooper.
The total project costs $2.95 million, and Newberry County is supplying the balance.
“Newberry County is aggressively seeking new industry, and this industrial building will be an important economic development tool that will ultimately provide new jobs for South Carolinians. It is good for Newberry County, it is good for Newberry Electric Cooperative, and it is good for the entire state,” said R.M. Singletary, executive vice president of corporate services for Santee Cooper. “Additionally, the building will serve as the incubator to promote the rest of the Commerce Park.”
Santee Cooper is South Carolina’s state-owned electric and water utility, and the state’s largest power producer. The ultimate source of electricity for 2 million South Carolinians, Santee Cooper is dedicated to being the state’s leading resource for improving the quality of life for the people of South Carolina. For more information, visit www.santeecooper.com.