Santee Cooper has provided Sumter County a $1 million loan to assist in the construction of a 50,000 square-foot speculative building in the Black River Airport Industrial Park near Sumter.

“Sumter and Lee counties sold their respective spec buildings last year,” said Jay Schwedler, president and CEO of TheLINK/Sumter Economic Development and Sumter Smarter Growth Initiative. “Data shows that this building is needed and will fit in nicely with our overall economic development strategy.”

The estimated cost of the building is approximately $2.8 million, with funding from a variety of sources in addition to Santee Cooper.

Seven firms currently occupy the 472-acre park, located between U.S. highways 15 and 521 at the intersection of Jefferson Road and North Wise Drive.

“This funding will advance efforts in the recruitment of businesses and industries that will enhance economic development activities in Sumter County,” said Pamela Williams, Santee Cooper’s senior vice president of corporate services.