State-owned utility loans $11M for rural projects

State-owned utility loans $11M for rural projects

MONCKS CORNER, SC (AP) - The state-owned utility Santee Cooper has approved almost $11 million in loans to rural counties to help pay for industrial development projects.

The utility said Monday it is loaning $4 million to Beaufort County to help build a $7.5 million commercial building in the county's Myrtle Park Industrial Park.

A $4 million loan will help Orangeburg County build an $8.5 million industrial building in the county's Matthews Industrial Park.

Santee Cooper also loaned $2 million to Calhoun County to help pay for an industrial building in the I-26 Industrial Park. An $850,000 loan to Jasper County will help build a $2 million industrial building at the Cypress Ridge Industrial Park.

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