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AdvanceSC's Upstate Investment Totals More Than $61 Million

December 20, 2010

Greenville, S.C. (December 20, 2010) Even the tough, current economic climate can’t hinder the good will of AdvanceSC. Since its inception in 2004, AdvanceSC has invested a total of more than $61 million in Upstate South Carolina economic development, education, manufacturing and public assistance projects. Those funds have been used to help companies such as First Quality Tissue and Proterra relocate to South Carolina, add and expand programs, teachers and technology to our technical schools, and provide many needy families with winter heating assistance.

Managed by an independent board of directors, AdvanceSC issues grants funded with profits from Duke Energy's Bulk Power Marketing program (BPM) to economic development, education, manufacturing and public assistance organizations.

"The importance of collaboration among local leaders is vitally important to allowing the doors of businesses and organizations to open and remain open,” said David Beard, president of AdvanceSC. “Even with this year’s economic state, we were able to continue providing assistance to a multitude of organizations through entrusted funds from Duke Energy, as we have since 2004. We are grateful to Duke Energy for continuing to believe in and support AdvanceSC’s mission of improving the welfare and lives of Upstate South Carolinians."

"Grants from AdvanceSC give economic developers the ability and flexibility to close deals by offsetting expenses that prospect companies are most concerned with – and which vary by project,” said Jerry Howard, president and chief executive officer of the Greenville Area Development Corporation, the non-profit organization established by County Council to promote and enhance economic growth and development in Greenville County. “AdvanceSC’s grant to Proterra was an essential component in closing this important deal for Greenville County, and as a result, AdvanceSC support will make a major, positive impact on Greenville County’s economic prosperity and quality of life."

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. Grant applications and information about AdvanceSC are available on its website at www.advancesc.org.