Global Academy of South Carolina Expands in Spartanburg with $31.4 Million in JEDA Bonds
Spartanburg, SC — Spartanburg County
The South Carolina Jobs-Economic Development Authority (JEDA) has issued $31.4 million in Educational Facilities Revenue Bonds to construct and equip the new Global Academy of South Carolina in Spartanburg.
The tax-exempt bonds will be used to finance the conversion of a 120,000-square-foot former sports academy into a public charter school. Global Outreach Charter Academy was launched in Florida in 2009. Global Academy of South Carolina, its first location in the Palmetto State, opened with 270 students in September with plans to expand to a capacity of about 1,200 from kindergarten through eighth grade.
“JEDA financing is making it possible for us to expand our mission of providing a solid education that empowers children to get acquainted with different cultures, learn foreign languages, and realize their full artistic and athletic potential.”
– Alkan Cevik, Senior Business Manager for Global Academy of SC
“We’re pleased to be able to guide Global Academy through the complex process of public finance as they pursue and expand their educational mission,” said Sam Howell, Bond Counsel with Howell Linkous & Nettles in Charleston.
“This transaction adds to JEDA’s extensive record of providing critical financing at favorable terms to educational institutions of all kinds across the Palmetto State,” said Jesse A. Smith, Executive Director of JEDA in Columbia.
