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Economic Development

We work strategically with businesses, communities, government and economic development partners to facilitate business location and expansion in our 20-county service territory. In recent years, we have strategically invested nearly $6 million in the region. Together, we are building a stronger eastern Kentucky.

Kentucky Power Economic Growth Grants

Powering local economic growth with grants

Discover our future

Clean Energy

With a tradition of innovation, we're powering a greener future for us all.

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Our comprehensive industry-leading energy services clear your path forward, providing limitless possibilities.

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We currently support local economic development efforts through the merit-based Kentucky Power Economic Growth Grant Program (K-PEGG).

The K-PEGG program provides resources for attracting new businesses, helping existing business customers expand, and assisting with developing new business and industrial real estate product, and economic development educational opportunities.

Serving Communities in Eastern Kentucky

With extensive economic development experience and strong relationships with state and local development officials, Kentucky Power helps our communities manage every step of the business recruitment process. Our local economic development experts work confidentially with prospective and existing businesses and industries, with our partners to identify smart and effective business opportunities in Kentucky.

Our economic and business development team offers custom location advisory services for businesses interested in locating or expanding in eastern Kentucky. Our services, offered confidentially and without cost or obligation, include:

  • Property searches and screening
  • Custom research
  • GIS mapping
  • Site visits
  • Introductions to state, and regional government officials as well as business leaders
  • Partnering with regional economic development organizations.

Economic Development Partners

Power in Kentucky

We offer an Economic Development Rider to encourage development through reductions in electric rates for major expansions and new investment.

  • To qualify, each new investment must create at least 500 kW of new maximum billing demand over a base level and could receive a temporary demand charge discount of up to 50 percent depending upon the length of the contract.
  • In addition, a supplemental demand discount of up to 5 percent may be available for customers who create and sustain 50 or more new jobs.
  • Creating and sustaining at least 25 new jobs may qualify for a reduced supplemental demand discount.

Business Advantages

It's easy to imagine your business taking flight in Kentucky. According to the National Association of Manufacturers, the state has the second largest percentage of manufacturing workers in the south, and the ninth lowest cost of doing business. The advantages of doing business in Kentucky are boundless.

Economy Overview

Economic Development News

Appalachian Tank Continues to Grow in Kentucky Enterprise Park

Appalachian Tank, a subsidiary of Platinum Tank Group, joined the Industrial Park at 479 Industry Drive in Pikeville in November of 2021. For the next eight months, the company worked to prepare the plant and to hire the employees needed to begin active production in July 2022. Appalachian Tank is a manufacturing facility building high quality aluminum tanks used primarily for transportation, delivery and distribution of refined fuel.

Read more

Economic Development Education

Links to education opportunities:

Amanda Clark
Economic and Business Development Manager

1645 Winchester Ave.
Ashland, KY 41101
acclark1@aep.com

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