Site Readiness Fund (SRF)
Since 2014, the SRF investment included $33.9 million for 24 projects statewide that have generated a combined investment of more than $153.5 million towards site readiness efforts through partnerships with electric cooperatives and local communities.
- SRF is a new Community Preparedness initiative to make sites market-ready in the service territory of the 20 electric cooperatives.
- The objective is to create winning sites that can be competitive through a site selection process.
- These funds are used to advance a site and better position the site for making the short list for a site selection consultant or prospect.
- In 2015, South Carolina Power Team awarded a contract for Phase II, which focused on identifying a mega site and several new large sites to accommodate large projects and facilitate the development of new Class A Industrial Parks.
- SRF investment locations can be found at SC Power Sites/Featured Sites.
Economic Development Investment Fund
Since 1989, more than $17.46 million in incentive funds has been invested to assist communities in securing announcements.
- offers assistance with site and building evaluations
- offers matching funds to better position sites, parks, and buildings to attract new or expanding businesses where they might not otherwise have been competitive
- provides three tiers for electric cooperative matching requirements based on size, which enables electric cooperatives with less resources to be competitive
- The program has been successful for over 29 years.
Santee Cooper Economic Development Loan Program
Since 2012, Santee Cooper’s loan program has awarded $48 million for 23 infrastructure projects statewide with $25.8 million of these awards having been made in 2014.
- administered by Santee Cooper
- supports the creation of industrial parks and buildings
- available to local governments and non-profit economic development organizations in Santee Cooper’s direct-service territory, and to all wholesale customers served by the utility