Santee Cooper approves $4 million loan to Cherokee County

Santee Cooper Corporation recently approved a $4 million loan to Cherokee County, South Carolina, for the purpose of constructing a 50,000-square-foot industrial building, which would assist the county in attracting business, industry and jobs to the area.

The building will be in the Upstate Corporate Park, adjacent to Interstate 85. Broad River Electric Cooperative will deliver electricity to the site.

The loan is part of Santee Cooper’s economic development funding program, established three years ago to help revitalize industry in the company’s service areas. This is the 20th such building loan granted under the program. Two of the buildings financed by Santee Cooper have already announced tenants, Wyman-Gordon in Dillon County and Sigmatex in Orangeburg.

"Santee Cooper has a responsibility to promote economic development, and announcements like Wyman-Gordon and Sigmatex show the value of this loan program," Lonnie Carter, the company’s president and CEO, said. "By providing financing to construct these critical spec buildings, we are helping South Carolina successfully compete for advanced manufacturing and the good jobs that come with it."

Providing electricity to more than 2 million South Carolinians, Santee Cooper is the largest power company and the largest generator of green power in the state. 

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