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JEDA helps retain, create 12,000 jobs

Staff Report
Published Jan. 31, 2013

The South Carolina Jobs-Economic Development Authority issued 14 bonds worth $362.5 million in funding in 2012, which helped create and retain 12,251 jobs, according to the agency’s annual report.

The report

To view the agency’s annual report and complete list of bonds issued, click here.

Recipients of the funds, which were issued between July 1, 2011, and June 30, 2012, included universities, hospitals and retirement facilities.

During the same period, the authority assisted in the reissue or conversion of eight existing bond issues for a total of $304.5 million, which allowed the borrowers to take advantage of cost savings on interest rates and served to retain an additional 5,826 jobs.

Some of the construction projects funded by bonds issued through the authority include:

  • $34.6 million to Converse College, Spartanburg, to build new student residences and finance renovations. Retained 220 jobs.
  • $25 million, Regional Medical Center, Orangeburg, to expand the Mabry Cancer Center and build the Dialysis Access Institute. Retained 1,492 jobs, created 19 jobs.
  • $7.9 million to Presbyterian College, Clinton, for a new pharmacy school. Retained 34 jobs, created 16 jobs.

The authority issues taxable and tax-exempt, and serves as a conduit issuer of special obligation revenue bonds. Since its founding in 1983, the authority has issued 436 bonds for more than $7.8 billion, resulting in the creation and retention of more than 209,000 jobs.

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