(COLUMBIA, S.C.)—Parker Poe and VIVA Recycling of South Carolina, LLC, marked one year of steady progress at a September 6 celebration at the plant, where guests got a look at how the company is turning what had been a recycling problem into a valuable recreational and industrial resource.
The Berkeley County company leveraged $15.7 million in Solid Waste Disposal Facilities Revenue Bonds to establish itself as the Palmetto State’s primary recycler of rubber tires into playground mulch, flooring products, infill for athletic fields and equestrian use and industrial products.
VIVA worked with bond counsel from Parker Poe in Columbia to secure tax-free funding through the SC Jobs-Economic Development Authority (JEDA). The funding helped pay for a new operation in an existing plant in Moncks Corner, creating 60 new jobs with the goal of employing over 100 by the end of this year.
Ray Jones, Bond Counsel with the Columbia firm, said seeing the success of entrepreneurial clients such as VIVA Recycling is a source of pride at his practice. “They’re experts in making a commercial success of solving complicated environmental problems,” he said. “We worked with a strong team to pull off a complicated bond financing to help make their work possible.”
“The past year has seen its ups and downs, but mostly ups, as the economy continues to improve and we continue to successfully provide our growing list of customers with outstanding products and services,” said Marty Sergi, Chief Financial Officer at VIVA. “And we haven’t done this alone. Behind the scenes, we have had a lot of help, including from such partners as our financing-savvy counsel from Parker Poe.”
About Parker Poe
Parker Poe Adams & Bernstein LLP has 190 lawyers in five offices located in major markets across North Carolina and South Carolina. The Firm provides legal counsel to large commercial and public organizations on litigation, corporate and regulatory matters. For more information, please visit www.parkerpoe.com.