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Carolina Metal Finishing
From Left to Right: Nat Green, Sr. Vice President, BDC; Brian Rauschenbach, Economic Development Project Manager, TheLINK; Alan Watkins, Administrator, Lee County; Travis Windham, Chairman, Lee County Council; John Gibart, Plant Manager, Carolina Metal Finishing; Gordon Eckley, Chairman, TheLINK; Cynthia Davis, Director of Existing Industry, SC Department of Commerce; Paul Buchenroth, Existing Industry Manager, SC Department of Commerce; Phillip McCorkle, Senior Vice President, South State Bank.

Business Development Corporation Closes South Carolina's First Rural Modernization Program Loan

Loan Helps Carolina Metal Finishing Create 20 New Jobs in Bishopville, SC

Business Development Corporation of South Carolina (BDC) and South State Bank have assisted Carolina Metal Finishing in securing a Rural Modernization Program Loan to add an additional manufacturing line within their Bishopville, SC, facility. The loan, which will provide an expansion of manufacturing capacity and create 20 new jobs, was used to purchase paint coating equipment which is essential to plant operations.

"Carolina Metal Finishing is very excited on the progress we've made toward the expansion of our manufacturing facility in the Bishopville, SC, area," said John Gibart, Plant Manager for Carolina Metal Finishing. "The Rural Modernization Loan Program has been instrumental in the process, allowing us to purchase new equipment and to create new jobs in Lee County. We are grateful for the assistance and ability to work along with the teams from BDC, South State Bank, S.C. Department of Commerce, Lee County Council and the LINK Economic Development Alliance to ensure a successful expansion process."

An affiliate of Paramount Metal Finishing in Linden, NJ, Carolina Metal Finishing supplies contract services for metal parts cleaning, assembly, industrial painting and powder coating. The Bishopville facility has been in operation since 2006 and currently employs 24 associates.

"Team South Carolina is always excited to celebrate the continued success of existing industry, especially in one of our rural communities. We congratulate Carolina Metal Finishing and look forward to watching them continue to thrive within our borders," said Bobby Hitt, SC Secretary of Commerce.

The Rural Modernization Loan Program is a joint effort of the SC Department of Commerce, Palmetto State Growth Fund, BDC, and an eligible county. Currently five counties are eligible to participate: Allendale, Bamberg, Lee, Marlboro, and Williamsburg. The program is designed to assist manufacturers in those counties to become more competitive and create jobs.

"South State Bank is proud to be the largest bank headquartered in South Carolina. For 85 years, we've been serving customers and communities like Lee County by staying true to our values of relationship banking and commitment to customers," said Phillip McCorkle, Senior Vice President for South State Bank.

"We have always been confident in our community and our ability to develop quality people and grow successful businesses," said Gordon Eckley, Chairman for TheLINK Economic Development Alliance. "Lee County being the first recipient of the Rural Modernization Program Loan reinforces and enhances that assurance. We are excited about the expansion of Carolina Metal Finishing and the jobs it will create for our region."

"We are excited to begin offering this important loan program for businesses located in counties that are experiencing challenging economies. This financing project with Carolina Metal Finishing is a great example of public-private partnerships working well to improve the local and state economies," said Peter Shand, President of BDC in Columbia.