South Carolina Jobs-Economic Development Authority
August 10, 2016
The South Carolina Jobs-Economic Development Authority recently reported on a South Carolina business that is providing a boost to the economy thanks to special obligation revenue bonds.
Watson Engineering Inc. gained access to $7 million through the South Carolina’s Jobs-Economic Development Authority (JEDA). The financing, through JEDA bonds, will allow the company to expand its facility in Anderson County.
Christopher Douglas, CFO at Watson Engineering, said his company is thrilled to be able to add approximately 30 jobs within the next two years.
Nexsen Pruet attorney Alan Lipsitz served as bond counsel in closing the deal:
“Watson Engineering is a recognized national leader in producing specialized parts for high-performance automotive, construction and agriculture business applications,” Alan Lipsitz, bond counsel with Nexsen Pruet in Columbia, said. “We’re happy to help this accomplished company continue to build on that foundation.”
At the time of the announcement, Watson Engineering employed 120 people who make products used within the construction, automotive, and agricultural industries.
Read the full article from the SC JEDA.
Alan Lipsitz is a banking and finance attorney whose focuses is on clients involved with commercial and public finance matters. He represents lenders; issuers of tax-exempt obligations and other deal participants in various tax-exempt transactions. These include trustees, purchasers and underwriters; and real estate developers and owners.