ASHLAND, Ky., October 7, 2021 – Shaping Our Appalachian Region (SOAR) has received a $50,000 economic development grant from Kentucky Power to host two mini-summits in the SOAR region. The grant is funded through the Kentucky Power Economic Growth Grant (KPEGG) program.
Typically, SOAR hosts a large summit each year to convene stakeholders from across its 54-county region. In 2022, SOAR’s core programming will include the signature summit and, with support of this grant, two mini-summits. Topics for the mini-summits will include tourism and a 21st century digital economy workforce.
“SOAR is grateful for this award,” said Colby Hall, SOAR executive director. “We are blessed to have had a single keynote SOAR Summit for the past 8 years. We look forward to offering multiple conventions across SOAR’s 54-county region in 2022 as a direct result of these resources.”
Kentucky Power President Brett Mattison said, “SOAR is such an important organization for eastern Kentucky. We are proud to support SOAR in its effort to expand participation in its programming.”
The KPEGG program assists in the funding of economic development programs or projects that promote the creation and retention of manufacturing and/or industrial investment and jobs. The program has completed its fourth yearly cycle and last year 19 grants for economic development efforts in Kentucky Power’s service territory were awarded totaling $859,175.
The program is funded through Kentucky Power’s economic development surcharge. For every $1 collected monthly from non-residential customers, company stockholders match the customer contributions dollar for dollar to generate nearly $800,000 annually for investment at the local and regional levels. The program is available in all 20 counties served by Kentucky Power.
Grant applications are reviewed by a committee comprised of employees and delegates of the Kentucky Association of Economic Development and the Kentucky Economic Development Cabinet. More information is posted at https://kentuckypower.com/development/.
Kentucky Power, with headquarters in Ashland, provides electric service to approximately 165,000 customers in 20 eastern Kentucky counties, including Boyd, Breathitt, Carter, Clay, Elliott, Floyd, Greenup, Johnson, Knott, Lawrence, Leslie, Letcher, Lewis, Magoffin, Martin, Morgan, Owsley, Perry, Pike and Rowan. Kentucky Power is an operating company in the AEP system, one of the largest electric utilities in the United States, delivering electricity and custom energy solutions to 5.4 million regulated customers in 11 states. AEP also owns the nation’s largest electricity transmission system. AEP’s headquarters are in Columbus, Ohio.