Santee Cooper approved a $5 million economic development loan to a subsidiary of Laurens Electric Cooperative, through the state-owned utility’s economic development revolving loan program.
The loan recipient is 1939 Land Management LLC, the cooperative’s wholly owned economic development subsidiary. The loan will be used to construct a 150,660 square-foot, Class A speculative building in the 415-acre Connexial Center Industrial Park in Laurens County near Gray Court, South Carolina.
“This part of our state continues to make significant economic development strides and this loan is indicative of Santee Cooper’s confidence in the region’s future,” said Pamela Williams, Santee Cooper’s vice president and CFO.
“The Connexial Center is key a component in Laurens County’s economic development future and we are pleased that Santee Cooper is part of advancing our plans,” said Laurens Electric Cooperative President and CEO J. David Wasson Jr. “Its strategic location is among many positive factors that give this site tremendous potential as we move forward.”
Santee Cooper is South Carolina’s largest power provider, largest Green Power generator and the ultimate source of electricity for 2 million people across the state. Through its low-cost, reliable and environmentally responsible electricity and water services, and through innovative partnerships and initiatives that attract and retain industry and jobs, Santee Cooper powers South Carolina. To learn more, visit www.santeecooper.com and follow #PoweringSC on social media.