LOCKHART — Lockhart Power Company announces a $140,000 contribution of utility license tax credit funds to fund economic development projects in Spartanburg and Union counties. The donations will be allocated to road enhancements at Tyger River Industrial Park – North in Spartanburg County and Midway Green Industrial Park in Union County. Lockhart Power provides electric power to both parks.
A utility license tax is applied by the state of South Carolina to the gross receipts and assets owned by certain utilities in the state, including those of Lockhart Power. While this tax is normally paid by the utility directly to the state, there is an option for the utility to receive a tax credit for any amount it contributes toward providing infrastructure for qualified economic development projects. Lockhart Power elected to contribute the entire amount of its 2016 utility license tax liability to road enhancement projects at Tyger River and Midway Green industrial parks.
“Lockhart Power is proud to continue helping Spartanburg and Union Counties through significant support of economic development,” said Bryan Stone, Chief Operating Officer of Lockhart Power. “These road improvements will help to spur economic activity and innovative projects at the parks, which essentially will benefit Spartanburg and Union Counties, and surrounding residents and businesses.”
Tyger River Industrial Park — North is an 887-acre site located on highway 290 in Moore. This SC Department of Commerce Certified Industrial Park also includes a partially developed middle section and fully developed southern section, totaling more than 2,250 acres. The park touts access to a CSX rail line, U.S. Highways 221 and 290, and Interstates 85 and 26. Due to its location, infrastructure, and other development features, TRIP-North is one of the highest quality industrial parks in the Southeast.
Midway Green is a 144-acre, SC Department of Commerce Certified Industrial Park ideal for manufacturers that are very large consumers of electricity and other utilities, and who are concerned with their environmental footprint. The planned road improvements at the site include extending Midway Drive to the Lukesville Community. Lockhart Power, which generates more than ninety-nine percent of its power from renewable resources, has electrical service on site. Manufacturers have the potential to utilize renewable landfill gas for industrial heating, with residual heat resulting in low pressure steam and hot water. Furthermore, the adjacent wastewater treatment plant can provide treated, recycled greywater for industrial process needs. Rail access is available via Norfolk Southern.
“Lockhart Power has used its contributions to support a wide variety of projects over many years that have created numerous jobs and tremendous investments in the Upstate,” said Rick Webel, president of Pacolet Milliken. “Some of those projects include several road improvements at Midway Green Industrial Park and Union Commerce Park; water, roadways and fire protection at Dollar General; wastewater and roadway improvements for Gestamp and Gonvauto, and much more. It’s an honor to be able to reinvest in our own communities.”
About Lockhart Power Company
Lockhart Power Company is an investor-owned public utility servicing the Upstate of South Carolina since 1912, with 99 percent of its power generated from renewable sources. Lockhart Power provides reliable and cost-effective electric service to its retail and wholesale customers, while also providing renewable energy to the City of Columbia and Duke Energy Carolinas.
This story courtesy of Lockhart Power.