Palmetto Economic Development Corp
SC Power Team – South Carolina Economic Development
570873176
1988
Columbia, SC 29201 United States
scpowerteam.com
scpowerteam
SCPowerTeam
Palmetto Economic Development Corp
Overview
The Palmetto Economic Development Corp is a 501(c)(3) nonprofit organization headquartered in Columbia, SC. It serves as the economic development alliance for South Carolina's 19 electric cooperatives, working to enhance economic growth in the region.
Purpose and Activities
The organization's primary goal is to foster economic development by collaborating with local and statewide groups to promote economic progress. This involves attracting new industries and creating jobs, which in turn improves the quality of life for local residents.
Financials
Historically, the organization has derived most of its revenue from program services. In past years, executive compensation and other salaries formed a significant portion of its expenses. The organization holds a modest amount of assets and liabilities, managing its financial resources to support its mission.
Ratings and Recognition
Palmetto Economic Development Corp has earned a 4/4 Star rating on Charity Navigator, reflecting its strong financial health and accountability in the nonprofit sector.
Role in the Community
By working closely with electric cooperatives, the organization plays a crucial role in advancing economic development initiatives throughout South Carolina. Its efforts are integral to the state's economic strategy, focusing on supporting local businesses and attracting new industries to create prosperous communities.
[1] https://www.fairfieldcountysc.com/news/palmetto-corporation-to-expand-to-fairfield-county [2] https://projects.propublica.org/nonprofits/organizations/570873176 [3] https://palmetto.coop/economic-development [4] https://www.guidestar.org/profile/57-0873176 [5] https://www.charitynavigator.org/ein/570873176
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News
Please join us in welcoming Bruce Bacon to the Board of Trustees! Bruce is the Chief Executive Officer of Fairfield Electric Cooperative. Before becoming CEO, he served as Vice President of Operations at Fairfield Electric, helping to shape its growth and success. Bruce is an active leader in the cooperative community, serving on multiple boards, including Central SC Alliance. He holds a degree in Electrical Engineering from Clemson University and an MBA from the University of South Carolina. View the entire board here: https://tinyurl.com/4747ewt3 (fb)
South Carolina is one of the fastest growing states in the United States, and the South Carolina Power Team is working behind the scenes to support this growth. As the economic development organization representing the state’s electric cooperatives, powering over two million South Carolinians, we are committed to driving sustainable growth. In 2024, we helped communities secure community-changing investments, attract new industries and create jobs that fuel local economies. From major corporate expansions to new industrial developments, electric cooperatives played a key role in South Carolina’s economic success. Our 2024 Annual Report is here, highlighting the impact of these efforts. Watch now to see how we, in collaboration with the state's 19 electric cooperatives, are helping shape the future of South Carolina: https://www.scpowerteam.com/wp-content/uploads/2025/03/SCPT_Annual-Report_2025.pdf (fb)
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About the organization
- S30 -
Powering Growth in Electric Cooperative Territory The South Carolina Power Team is the economic development organization representing South Carolinas 19 electric cooperatives that power more than 1. 6 million South Carolinians. For Site Selectors Find Your Next Site Go beyond a property search with Labor Study results Water Wastewater Study results and Location Analysis. For Businesses Engage with world class business and industry support.
Economic Development
