Pee Dee Electric Cooperative, Inc. an electric utility cooperative organized and existing under the laws of the state of South Carolina and as such is able to take advantage of the South Carolina Rural Development Act of 1996.
South Carolina Rural Development Act of 1996
This act allows Pee Dee Electric Cooperative to apply for a credit against its tax liability for amounts paid in cash, to provide infrastructure for qualifying industrial and distribution projects. Some examples of how these funds may be utilized include:
- Construction of roads
- Construction of water and/or sewer lines
- Construction of turning lanes and deceleration lanes to an industry
- Construction of natural gas pipelines
- Construction of rail
Santee Cooper Economic Development Investment Fund (SCEDIF)
The cooperative may also contribute funds from other sources for the construction of facilities associated with a specific project, as well as provide financial assistance for the development of feasibility studies, environmental assessments and land use plans.
In all instances, qualification for such incentives is weighed against the number of jobs created, the capital investment, the demand for electricity, and a contract for electrical service from Pee Dee Electric Cooperative has been secured.
Rural Economic Development Loan & Grant (REDLG) Program
REDLG offers the opportunity for private and public organizations to receive a zero-interest loan from the Rural Development sector of USDA. Funds from the REDLG program are awarded to a RUS, such as Pee Dee Electric Cooperative who serves as the administrator of a loan, is then passed on to a third party. The RUS charges a service fee no more than 1 percent each year of the unpaid principal balance of the loan.