Snap­ping Shoals do­nates $10K to eco­nomic de­vel­op­ment

The Covington News - - Local News - STAFF RE­PORTS

Snap­ping Shoals EMC re­cently awarded $10,000 to both the Cov­ing­ton-New­ton Of­fice of Eco­nomic De­vel­op­ment and the Cony­ers-Rock­dale Eco­nomic De­vel­op­ment Coun­cil.

The funds were al­lo­cated from the co-op’s un­claimed cap­i­tal cred­its and will be used by the groups in sev­eral ar­eas.

In New­ton County, the funds will be used to sup­port ex­ist­ing in­dus­tries and to re­cruit new in­dus­tries and jobs to the county, ac­cord­ing to Roger Har­ri­son, Se­nior Vice Pres­i­dent of the Cov­ing­ton-New­ton County Of­fice of Eco­nomic De­vel­op­ment. “We thank SSEMC for be­ing a long time part­ner in growth,” Har­ri­son said.

Ac­cord­ing to Gina Hart­sell of the Cony­ers-Rock­dale Eco­nomic De­vel­op­ment Coun­cil, the funds will be used to sup­port the work­force de­vel­op­ment pro­grams that are not cov­ered un­der the an­nual school bud­get at the Rock­dale Ca­reer Academy.

“A few of these pro­grams in­clude pay­ing for the in­dus­try cer­ti­fi­ca­tion test­ing fees for path­way com­pleter students; as­sist­ing with ex­penses as­so­ci­ated with state and na­tional in­dus­try re­lated stu­dent com­pe­ti­tions and field trips; and con­tri­bu­tions to ac­tiv­i­ties at RCA that re­in­force ac­cel­er­ated learn­ing op­por­tu­ni­ties for students with­out fund­ing sources of their own,” Hart­sell said. “We are, of course, ab­so­lutely ec­static to re­ceive these funds.”

As a non-profit or­ga­ni­za­tion SSEMC’s cap­i­tal cred­its, or mar­gins, are the rev­enues that are over and above the cost of pro­vid­ing ser­vice for the elec­tric co-op’s cus­tomer-own­ers. These are re­quired by lend­ing in­sti­tu­tions to es­tab­lish fi­nan­cial strength for loans. Snap­ping Shoals EMC rou­tinely re­funds these cap­i­tal cred­its to its mem­bers when its board of di­rec­tors de­ter­mines it is ap­pro­pri­ate to do so. De­spite all of our ef­forts to lo­cate past mem­bers, there are al­ways those whom we can­not lo­cate to re­turn their pa­tron­age cap­i­tal. Leg­is­la­tion passed in 2005 al­lows EMCs to re­tain these un­claimed cap­i­tal cred­its that his­tor­i­cally would be turned over to the state. The un­claimed funds are used to sup­port Snap­ping Shoals EMC’s var­i­ous ed­u­ca­tional pro­grams, as well as other community and eco­nomic de­vel­op­ment projects.

Snap­ping Shoals Elec­tric Mem­ber­ship Cor­po­ra­tion is a con­sumer-owned elec­tric co­op­er­a­tive pro­vid­ing elec­tric ser­vice to ap­prox­i­mately 95,000 homes and busi­nesses in an eight-county area. Most of the util­ity’s ser­vice area is in New­ton, Rock­dale and Henry coun­ties. Por­tions of DeKalb, Butts, Wal­ton, Mor­gan and Jasper coun­ties are also in­cluded. The com­pany’s head­quar­ters is on Brown Bridge Road in New­ton County.

New­ton County’s Eco­nomic De­vel­op­ment Di­rec­tor Shan­non Davis (left), Se­nior Vice Pres­i­dent Roger Har­ri­son and New­ton County Cham­ber pres­i­dent Hunter Hall (far right), ac­cept a check for $10,000 from Snap­ping Shoals EMC’s Man­ager of Eco­nomic De­vel­op­ment Danny Stone (sec­ond from right).

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