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Laurens County industrial building secures loan

Staff Report
Published Feb. 25, 2013

A shell building in Laurens County that could attract new industry, jobs and investment received financial backing Monday.

Santee Cooper’s board of directors approved a $1.5 million loan for the building.

The funding will go toward a 50,000-square-foot industrial shell building in the Owings Industrial Park Phase II, which features adjacent rail, as well as water and sewer provided by Laurens County Water and Sewer Commission. Laurens Electric Cooperative distributes power to the park.

The $2.1 million project will be funded through this loan and $600,000 in land and improvements from the county.

ZF Transmissions LLC recently finished construction of its facility in Owings Industrial Park with plans to begin producing its eight- and nine-speed transmissions in the second quarter. The German automotive supplier seeks suppliers, specifically die-casting suppliers, to locate near its facility.

“In today’s global marketplace, industry is looking for sites that are practically move-in ready,” said Santee Cooper President and CEO Lonnie Carter in a news release. “Santee Cooper has a responsibility to promote business opportunities across the state, and this loan will help build a shell structure that will, in turn, help attract good jobs for many South Carolinians.”

Including this funding, Santee Cooper has loaned $5.6 million to several business development projects statewide in the past six months.

Moncks Corner-based Santee Cooper is South Carolina’s state-owned electric and water utility, and the state’s largest power producer, serving 2 million electricity consumers.

Previous coverage

ZF Transmissions gears up for growing demand
Laurens training center to expand
ZF Transmissions seeks CNC machinists, maintenance technicians
ZF sees growth in North American market