Dominican Energy agrees to give South Carolina state parks

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Dominican Energy agrees to give South Carolina state parks

South Carolina is poised to gain three new state parks thanks to a settlement with Dominion Energy after the company offered up a large amount of land as part of a deal to settle a tax dispute with the state.

Over the summer, Dominion agreed to pay South Carolina $165 million to settle the tax battle that began with the state and South Carolina Electric Gas Co, which Dominion acquired in 2019.

In 2008, the state gave SCE&G tax breaks on purchasing materials to expand its V.C. Summer nuclear power plant. The company abandoned the project in 2017 without completing it, sparking a series of lawsuits on behalf of customers and investors who lost billions in its demise. The state is trying to get back its lost tax revenue.

South Carolina and Dominion have reached an agreement after the Virginia-based energy giant agreed to pay one third of the $165 million with more than 2,900 acres in property rather than cash, as was first reported by The Post and Courier.

The properties include the Pine Island Club, a 27 acre lake Murray with a 9,100 square-foot conference center and several recreational facilities, a 190 acre property called Misty Lake in North Augusta that has a 6,200 square-foot clubhouse and the 2,600 acre Ramsey Grove plantation.

South Carolina officials believe that the first two properties could be converted to state parks by the summer, and the third by 2023.

Brian Symmes, a spokesman for the Gov., is a spokesman. Henry McMaster, told The Post and Courier that the governor wanted the agreement to benefit all South Carolinians. Symmes told the newspaper that he believes that the current proposal does that in the form of access to some of the most beautiful and valuable property in the state.

The deal isn't finished yet, as it still needs to get approval from a few legislative committees.