The South Carolina Jobs-Economic Development Authority (JEDA) recently issued $8.5 million in bonds to fund the construction of a new Palmetto Scholars Academy (PSA) facility in North Charleston.
The funding is a mix of $8.265 million in tax-exempt bonds and $230,000 in taxable bonds. The money will pay for the acquisition and construction costs of the new school as well as equipping and furnishing it.
PSA is a school for gifted and talented students. It opened in a building on the former Charleston Navy Base in 2010, and when the new school opens it will become one of only eight charter schools in the U.S. to be located on an active military installation.
Presently, nearly 300 students attend classes at PSA, which serves South Carolina students in grades six through 12. PSA belongs to the SC Public Charter School District.
Currently, 30 people are employed by PSA; within 24 months of the new school's opening, nine more jobs openings are expected.