Medical Society of South Carolina
Creates 3; Retains 12 in Datacenter, 5,100 in Hospital
SC JEDA Economic Development Industrial Revenue Bond
The non-profit hospital system’s majority owner — the Medical Society of South Carolina — is using $27 million in tax-exempt revenue bonds issued through JEDA to help pay for land and construction for a new data center in North Charleston, and to refinance an earlier purchase of land in Berkeley County.
The bonds were issued in two series. The first will finance the move of the data center from two floors in the parking garage at Roper St. Francis Hospital into a new, 10,000-square-foot facility that will provide the technology infrastructure for patient care, including physiological monitoring, as well as nurse call, medical records, human resources, staff computing and finance. The second series of bonds will refinance Series 2007 Bonds that were used for the purchase of land for a future Roper St. Francis Healthcare facility in fast-growing Berkeley County.
Approximately 5,100 people work at Roper St. Francis, which is the largest non-governmental employer in the Lowcountry. The issuance of the bonds will help maintain the jobs of 12 information technology staff members, will create three new positions within 24 months and will lead to the creation of additional jobs at the new healthcare facility.