Santee Cooper approved a $5 million economic development loan to a subsidiary of Laurens Electric Cooperative through the state-owned utility’s economic development revolving loan program. The loan recipient is 1939 Land Management LLC, the cooperative’s wholly-owned economic development subsidiary, according to a news release.
“This part of our state continues to make significant economic development strides and this loan is indicative of Santee Cooper’s confidence in the region’s future,” Pamela Williams, Santee Cooper’s vice president and CFO, said in the release.
The loan will be used to construct a 150,660-square-foot, Class A speculative building in the 415-acre Connexial Center Industrial Park in Laurens County near Gray Court.
“The Connexial Center is a key component in Laurens County’s economic development future and we are pleased that Santee Cooper is part of advancing our plans,” J. David Wasson Jr., Laurens Electric Cooperative president and CEO, said in the release. “Its strategic location is among many positive factors that give this site tremendous potential as we move forward.”