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AdvanceSC Gives $13.9 Million to Upstate Organizations This Year

November 13, 2007

Board announces total Upstate investment at more than $30 million

Greenville, S.C. (November 13, 2007) – AdvanceSC announced this morning that the organization has awarded more than $13.9 million in total grants to Upstate organizations in 2007 alone. The announcement was made this morning at BMW Manufacturing where more than 130 recipients were recognized for their work in helping to advance and assist Upstate communities. Since inception, AdvanceSC has invested a total of more than $30 million in state projects.

AdvanceSC, which is funded with profits from Duke Energy's Bulk Power Marketing program (BPM) and managed by an independent board of directors, issues grants to organizations that fall under one of four categories: economic development, education, manufacturing and/or public assistance.

The amount of funds granted to each category this year includes:

  • Education – $5.2 million to high school, technical and community colleges, and universities.
  • Economic Development – $1.6 million to economic development programs via existing partnerships, chambers of commerce and economic development organizations to attract new or expanding industries.
  • Manufacturing – $6.4 million to existing industrial customers to increase productivity, reliability, cost control, efficiency or to positively impact the environment.
  • Public Assistance – $600,000 for public assistance through direct grants to Duke Energy's Share the Warmth, Cooling Assistance and Fan Heat Relief programs.

"All of our grant recipients share the goals Duke Energy used in establishing our organization, and we’re privileged to partner with them in order to benefit so many people in our community," said Carol Burdette, president of AdvanceSC. “In 2008, the board will continue to increase involvement with our award winners and applicants in order to meet the needs of these organizations and communities at large. We look forward to the long-term impact AdvanceSC will have on our state.”

AdvanceSC supports economic development, education, manufacturing and public assistance agencies in Duke Energy’s South Carolina service area. Established as a limited liability company by Duke Energy in 2004, AdvanceSC is funded with profits from the company's BPM program and is managed by a board of Upstate S.C. leaders. The fund administrator is Wachovia Charitable Services, Greenville, S.C. Grant applications and information about AdvanceSC are available on its website at www.advancesc.org.