May
20

Darlington County Purchases Tract for Industrial Park

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Darlington County purchases tract for industrial park

May 20, 2008

By Candace Jarrett – Florence Morning News

Darlington County is in the process of finalizing a new industrial park project. The Darlington County I-20/Highway 340 Industrial Complex will be located on about 150 acres the county is purchasing near that intersection of Interstate 20 and S.C. 340.

“This (project) goes back about 10 years,” Darlington County Council Chairman Billy Baldwin said. “We took an extended lease on the land, and our option was running out in about two or three years.”
Baldwin said he’d found out about the Pee Dee Electric Cooperative’s low-interest grant application and thought it was time to purchase the land.

“I felt like we needed something on I-20, and NESA (the North Eastern Strategic Alliance) agreed with us,” he said. “This (Pee Dee Electric Cooperative) loan was the easiest way to do it.”
William Fleming, the commercial/industrial marketing administrator for Pee Dee Electric, said Darlington County is able to purchase the land via the Pee Dee Electric Cooperative/U.S. Department of Agriculture’s rural development loan program.

“It’s a zero-percent interest loan,” Fleming said. “It was a loan to us from the USDA and we loaned it to them; $300,000 was a grant and $740,000 was the USDA loan.”

Fleming said the loan carries a 1-percent service charge, and Darlington County has to match the grant with $171,888.

“Now it is the job of the (Darlington County Economic Development) partnership to be a force for economic development,” Fleming said. “The property will be used as Darlington (County’s) new industrial park to attract industry. It gives Darlington some form of a product it hasn’t had in the past.”

The complex will be an extension of a couple of existing industrial parks in the area.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ENTIRE ARTICLE HERE:
http://www.scnow.com/scp/business/local/article/darlington_county_purchases_tract_for_industrial_park/6161/

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