Pee Dee Electric Provides Nearly $1 Million for Economic Development
A once empty lot in the Richmond County Industrial park off of Highway 74 business will receive a facelift in the near future, thanks in part to funds provided by Pee Dee Electric.
Through the USDA’s Rural Economic Development Loan and Grant program (REDLG), Pee Dee Electric was able to provide $940,000 to Richmond County Economic Development for the construction of a shell building. Shell buildings are used by economic developers to entice industry and manufacturing prospects to the area because of the ability to quickly start operations.
Pee Dee Electric CEO Donnie Spivey highlighted the multiple benefits economic development has to offer: “Serving as an electric provider to these new projects not only enables us to grow and enhance our infrastructure, but it also benefits the communities we serve tremendously,” he said.
Using the REDLG funds and a $1 million commitment from the N.C. Department of Commerce through the Community Block Grant program, Richmond County Economic Development will be able to construct the new shell building.
“The shell building will increase our chances of landing a new industry or growing one of our existing industries,” said Martie Butler, economic developer for Richmond County. “Most companies are looking for an existing building — and currently we do not have any vacant buildings to market for economic development. This partnership with Pee Dee has been an overwhelming success as this is our fifth shell building. We currently have four new industries thanks to the successful partnership & the shell building program.”