Georgetown Area officials meet with International Paper for update on sale of Georgetown property

Contact:
Jackie Broach, Public Information Officer
Phone: (843) 545-3164
E-mail: jbroach@gtcounty.org
 
FOR IMMEDIATE RELEASE
 
Georgetown Area officials meet with International Paper for update on sale of Georgetown property
 
GEORGETOWN COUNTY – At the request of International Paper (IP), Georgetown County provided a location for company officials to meet with local leaders on June 23. The purpose of the meeting was for IP to provide an update on the status of the sale of its property located in Georgetown.
Invitations were issued by IP and attendees included: S.C. Rep. Rev. Carl Anderson, Georgetown County Council Chairman Clint Elliot, County Administrator Angela Christian, County Economic Development Director Kelly Robertson-Slagle, Georgetown Mayor Carol Jayroe and Georgetown City Administrator Scott Whittier.
During the meeting, IP confirmed it is managing the sale process internally and has chosen not to use an outside commercial broker. Company officials reported that they have received multiple bids from unique and diverse groups and expressed that they are pleased with the level of interest in the property.
IP stressed that no final decision has been made regarding a purchaser at this time. The next steps include a comprehensive evaluation of each submitted bid. This evaluation will consider a number of key factors, some of which include the bidder’s capacity to successfully complete a project of large scale, financial strength, and the long-term viability of the future use of the site. Once a top proposal is selected, the prospective contract purchaser will enter a due diligence period. While IP was unable to provide a definitive timeline, company officials anticipate that the process will take several months to a year to complete.
Additionally, International Paper reinforced its ongoing commitment to both the City of Georgetown and Georgetown County, particularly regarding continued access to water from the IP Canal. All prospective buyers have been informed of this long-term commitment and of the need to ensure ongoing access to water from the canal.
Local officials expressed appreciation for the meeting and stressed the desire for the company’s transparency, collaborative approach, and commitment to keeping the community informed as the process continues.  International Paper also reaffirmed its commitment to continue to provide local stakeholders updates to the fullest extent possible.