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.
An employee at Logan Corporation's facility in Salyersville works on parts for a custom dump truck. A Kentucky Power Economic Growth Grant allowed the company to move from a smaller facility in Martin County to its larger facility in Magoffin County, retaining and adding jobs.
We currently support local economic development efforts through the merit-based Kentucky Power Economic Growth Grant Program (K-PEGG). The Kentucky Power Economic Advancement Program (KEAP), which provided nearly $1 million to disadvantaged communities over five years, ended in 2018.
Economic Development Fact Sheet
With extensive economic development experience and strong relationships with state and local development officials, we can help your business manage every step of the site location decision process. Our local economic development experts work confidentially with prospective and existing businesses and industries to identify smart and effective business opportunities in Kentucky.
The advantages of doing business in eastern Kentucky include:
- An available, skilled and intuitive workforce with strong work ethic
- Certified, project-ready industrial sites with due diligence completed to minimize risk, remove guesswork, and accelerate speed to market
- Location at the center of a 34-state distribution area in the eastern U.S.
- An ability to customize flexible and industry-driven skills training
- The lowest cost of electricity in the industrial sector among states east of the Mississippi River and one of the lowest in the U.S.
- Strong local, state and regional workforce development and economic development partners
- An incentive Economic Development Rider to enhance economic development through reductions in electric rates for qualifying major expansions or new investment