AdvanceSC Gives $10.6 Million to Upstate Organizations
AdvanceSC has awarded $10.6 million in total grants to Upstate organizations in 2009, it was announced today. Since its inception in 2004, AdvanceSC has invested a total of more than $55 million in Upstate 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:
• Public Assistance – $500,000 for public assistance through direct grants to Duke Energy's Share the Warmth, Cooling Assistance and Fan Heat Relief programs.
• Economic Development – $1.5 million to economic development programs via regional partnerships and alliances, chambers of commerce and economic development organizations to attract new or expanding industries.
• Education – $2.2 million to high school, technical and community colleges.
• Manufacturing – $6.4 million to existing industrial customers to increase productivity, reliability, cost control, efficiency or to positively impact the environment.
“Due to the current economic climate, these are arguably the most important funds we have ever donated,” said Carol Burdette, president of AdvanceSC. “These funds make a tremendous impact throughout the Upstate and reaffirms the need for an organization such as AdvanceSC. Each member of our board feels honored to contribute time and energy into making wise choices with the funds Duke Energy entrusts to our stewardship. The AdvanceSC board remains keenly aware of the importance of collaboration among local leaders, and we are grateful for each organization’s continued commitment in helping to pave the way for a brighter future for Upstate South Carolina.”
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.
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