JEDA Helps Palmetto Health Build New Irmo Hospital
COLUMBIA, SC – Bond financing facilitated by the South Carolina Jobs-Economic Development Authority (JEDA) will help Palmetto Health build a new Palmetto Health Baptist Parkridge campus, a full-service, 76-bed hospital in the Irmo area.
The $215 million in revenue bonds will provide the financing, construction and equipping of the 186,000-square-foot facility off Interstate 26 in the Harbison area, as this new facility will expand the existing Palmetto Health Parkridge campus. This bond issuance will help maintain more than 7,500 existing jobs and create 270 new jobs within two years of the project’s completion.
“Being able to utilize JEDA bond funding to access new funding at favorable terms is critical to our ability to be able to expand the Parkridge campus at this level,” said Tom Smith, Director of Treasury Services at Palmetto Health.
“The hospitals of Palmetto Health have been a critical part of everyday life in their service areas for many years. We’re excited to be able to help them continue to meet their mission of serving the health needs of their community,” said Megan Rudd, Bond Counsel with Jones Day in Chicago.
“Palmetto Health already plays a huge role in health care in South Carolina through their Baptist, Richland, Heart and Children’s hospitals in Columbia. Helping the Parkridge campus expand into a full-service hospital is an exciting endeavor that we feel privileged to participate in,” said Harry Huntley, Executive Director of JEDA in Columbia.