What We Do
The South Carolina Power Team offers a variety of financial programs to support the mission of creating jobs, investment and electric load in electric cooperative territory. These programs can assist a cooperative, community, new or expanding industry in multiple facets of the economic development process from preparing economic development professional and community leaders, to assisting in product development efforts within a community or cooperative territory, and ultimately offering assistance to a prospective commercial or industrial member locating or expanding in electric cooperative territory.
Site Advancement Fund (SAF)
Formerly referred to as “SCEDIF Category C”, SAF grants are available to cooperatives and economic development entities for technical assistance such as feasibility studies, environmental assessments and land use plans.
Site Readiness Fund (SRF)
The SRF grants provide funding for communities served by the electric cooperatives to use for the improvement of very high value economic development sites and buildings. Specifically, these projects have strong potential for an immediate or short-term return on investment for job creation, capital investment and electric consumption.
The South Carolina Power Team staff manages the funding approvals and priorities for the grants. Grant funds are matched at least one to one by the project.
Cooperative Recruitment & Expansion Fund (CoRE)
Formerly referred to as “SCEDIF Category B,” CoRE grants are used to aid in the actual location or expansion of specific and identifiable industrial, commercial and institutional enterprises. Other significant goals include the creation of jobs, projected capital investment and demand for electricity. These funds can be allocated towards offsetting critical project needs.
Funds in this category are matched by individual cooperatives.
Business Retention & Expansion Upskilling Incentive
The Business Retention & Expansion Upskilling Incentive offers reimbursements for a portion of documented out-of-pocket costs incurred to train existing employees on new/upgraded equipment. It is available to existing industrial/commercial consumers of South Carolina’s electric cooperatives. The fund is administered by South Carolina Power Team staff. For more information, email BRE Manager, Andrew Folks.
Professional Development Initiative
Offers scholarships for economic development professionals to attend the Basic Economic Development Course (BEDC), the SC Economic Development Institute (EDI), IEDC courses and the SC Advanced Symposium.
Strategic Planning Initiative
Used to assist county and regional economic development agencies in employing a professional consultant to create:
- an Economic Development Strategic Plan;
- a Target Industry Study; and/or
- a Marketing Plan.