COLUMBIA, S.C. — The US Department of Agriculture (USDA) announced it is investing $770 million nationwide in projects that will help create new and better market opportunities for rural businesses and people in 36 states and Puerto Rico.
South Carolina will receive a total of $51,788,246 in loans and grants for five projects throughout the state in project that supporters say will save jobs, expand businesses and finances. The projects receiving funds include:
Business and Industry Loan Guarantees
- Agy Holding Corp.: $81 million for the Aiken, South Carolina glass fiber yarn manufacturing facility. This project will save 588 jobs in the local area.
- Allora Solar LLC: $17,850,000 to purchase and install a 105 MWdc solar array. Allora Solar LLC is a newly created entity whose purpose is to generate electricity in Lexington County, South Carolina. The system is estimated to produce 181,445,488 kilowatt hours (kWh) per year, which is enough electricity to power 16,495 homes.
- Eastover Solar LLC: $25 million to purchase and install a 103.040 MWdc solar array. Eastover Solar LLC is a new entity that generates electricity in Richland County. The system is estimated to produce 184,411,558 kWh per year, which is enough electricity to power 17,017 homes.
- T1 Florence Oil LLC: $738,254 for financing for T1 Florence Oil LLC, a locally owned gasoline station with convenience store located in Lynchburg, South Carolina. This loan guarantee will help the store remain open for local and interstate businesses.
Rural Microentrepreneur Assistance Grant Program
- Clemson University: $99,992 to provide technical assistance to Micro Entrepreneurs through the S.C. Center for Cooperative and Enterprise Development (SCCCED). It is expected that at least fifty rural businesses will receive guidance for financial management and access to financing as a result of this funding.
For a complete list of the nationwide funding, click this link for the USDA Rural Development New and Better Markets chart.
