BROAD RIVER ELECTRIC is proud to be an integral part of commerce and economic development in this area. Not only do we deliver reliable electrical service at an affordable rate, but we are also an active participant in attracting and retaining local businesses and industry to the local economy. In addition to providing energy to nearly 1,000 commercial and industrial accounts, Broad River has been crucial in the development of industrial sites throughout Cherokee, Spartanburg and Union County.
Why Invest in Economic Development?
- It leads to a return on our investment, both through the revenue and industrial load it generates and the indirect benefits to the community.
- Investing in utility infrastructure not only attracts industry, but it also hastens the development of neighborhoods and communities in the area.
- New industry brings new jobs and new investments to the local economy.
- Industrial loads can be beneficial to our residential members, better spreading the system’s power costs.
The South Carolina Power Team is a full-service, non-profit economic development organization that facilitates the growth of jobs, investment and electric load through the attraction of new industrial and commercial activity, as well as, the expansion and retention of existing businesses and facilities.
The SC Power Team represents Broad River Electric and the state’s other 19 member-owned electric cooperatives, which collectively serves
within 46 counties of the state and over half of its population.
One way in which the SC Power Team strengthens Broad River Electric’s economic development efforts is through its community initiative funds, which focus on competitiveness and community preparedness.
- The $30 million Site Readiness Fund (SRF) is used for matching grants which are paired with funding from the electric cooperatives, local governments, and other resources to facilitate the enhancement of existing sites, parks, and buildings within the electric cooperative territory. In 2016, the SRF funds provided $600,000 toward the construction of a sewage line at the Sunny Slope site in Cherokee County. Broad River Electric provided $200,000 of the matching funds.
- A longstanding investment fund, this program offers assistance with site and building evaluations. Broad River Electric’s most recent industrial investments, Belk, Dollar Tree, and Rite Aid all utilized the incentive fund.