News Column

BRIEF: Office space in Myrtle Business Park gets $4 million boost through Santee Cooper loan

August 26, 2014

The State (Columbia, S.C.)



Aug. 26--Santee Cooper's board of directives has approved a $4 million load to Beaufort County to build a 40,000-square-foot speculative building at the Myrtle Business Park.According to a news release from Palmetto Electric, which serves the park, the loan will be paired with local matching funds to complete the $7.5 million project, which also includes the Lowcountry Economic Development Alliance and Hargray Communications as a partner."Site selectors tell us that available buildings are critical when they choose a location," Lonnie Carter, Santee Cooper president and CEO, said in the release.Palmetto Electric and Hargray helped the county buy the property in 2013 with Rural Development Act money.The project stemmed from a 2012 report suggesting the county invest in commercial space to attract companies. The report, from Avalanche Consulting, also said companies in the IT and back office industries would be good targets. "The addition of new business space gives us a tremendous tool in working to attract high-paying jobs to Beaufort County," said Paul Sommerville, Chairman of Beaufort County Council.

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Source: State (Columbia, SC)


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