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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.

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

A list of featured properties in our service territory is available on the AEP Economic & Business Development website.

Serving Business in Eastern 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, regional and local government and economic development officials, as well as business leaders
  • Electric service plan

The advantages we can provide include an Economic Development Rider incentive, access to renewable energy, competitive electric prices, energy efficiency incentives, strong reliability, and quality customer service.

Bob Shurtleff
External Affairs Manager

3249 N. Mayo Trail
Pikeville, KY 41501
rsshurtleff@aep.com

Amanda Clark
External Affairs Manager

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

Kentucky Power Economic Growth Grants

Powering local economic growth with grants

Discover our future

Coal & Energy Sector

Committed to coal and the future of energy

Learn more

Aerospace & Other Manufacturers

Come fly with us: supporting Kentucky's aerospace & aviation industry

Let's build together

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