Economic Development

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

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Growing Business in Eastern Kentucky

Kentucky Power currently supports 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.

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., Kentucky’s location advantage facilitates the distribution of goods and materials to a massive industrial and consumer market.
• An ability to customize flexible and industry-driven skills training sets it apart from other states in today’s global economy.
• 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
• Kentucky Power offers an incentive Economic Development Rider to enhance economic development through reductions in electric rates for qualifying major expansions or new investment

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Kentucky Power Economic Development Rider

A list of featured properties in Kentucky Power’s service territory is available on the AEP Economic & Business Development website.

For more information, please reach out to Bob Shurtleff.