Economic Development Successes

Kentucky Power works diligently with our local, regional, and state partners  to attract and develop central Appalachia as a leader in investment and job creation. The success of Kentucky Power’s Kentucky Power Economic Development Growth Grants (K-PEGG) and the Kentucky Power Economic Advancement Program (KEAP) are just two of the many important partnerships the company is forming to bring businesses and jobs to our communities. In the last five years, Kentucky Power has invested nearly $3 million in economic development in eastern Kentucky, including water and sewer projects, broadband expansion, industrial site development and certification, workforce research, and other endeavors.

KPEGG Grant Recipients:

The K-PEGG is funded through the Kentucky Economic Development Surcharge approved by the Kentucky Public Service Commission in 2015 and updated in 2017. For every $1 collected monthly from non-residential customers, company stockholders match the customer contributions dollar for dollar to generate about $720,000 annually for investment at the local and regional levels. The program is available in all 20 counties served by Kentucky Power.

2017

One East Kentucky: $50,000
The grant supports One East Kentucky’s budget for the 2017-2018 budget year. The grant was the second of a five year commitment to the new organization which is charged with attracting primary jobs and industry to eastern Kentucky.

Shaping Our Appalachian Region, Inc. (“SOAR”): $25,000
The grant to SOAR was assist in fulfilling the organization its mission of expanding job creation, enhancing regional opportunity, innovation, and identity, improving the quality of life, and supporting all those working to achieve these goals in Appalachian Kentucky. The grant was the second of a three year commitment.

Hazard-Perry County Economic Development Alliance: $25,000
The funds were used to create a strategic plan and provide budgeting support for the organization whose mission is to attract, develop, and expand a diversified business base in the counties. The grant was the first of a three year commitment to the new organization which is charged with ensuring Perry County is primed for job attraction and industry investment.

Southeast Kentucky Economic Development Corporation: $60,000
The grant to the Southeast Kentucky Economic Development Corporation provided funds necessary to assist four companies in the Company’s service territory obtain quality control certifications necessary to compete for subcontracting work to major military and government contractors.

Pike County Fiscal Court: $18,700
The grants to the Pike County Fiscal Court provided funds necessary to market the activities at the Pike County Teleworks Hub including job training and placement services.

2016

One East Kentucky: $10,000
One East Kentucky is one of Kentucky Power’s key regional economic development partners. These funds were used to help cover costs incurred to meet with potential new employers, necessary travel, attend economic development conferences, and market the region.

One East Kentucky: $50,000
The grant was to support One East Kentucky’s budget for the 2016-2017 budget year. The grant was the first of a five year commitment to the new organization which is charged with attracting primary jobs and industry to eastern Kentucky.

Hazard-Perry County Economic Development Alliance: $25,000
The funds were used to create a strategic plan and provide budgeting support for the organization whose mission is to attract, develop, and expand a diversified business base in the counties. The grant was the first of a three year commitment to the new organization which is charged with ensuring Perry County is primed for job attraction and industry investment.

City of Hazard: $56,000
The grant funds were issued to the City of Hazard to fund improvements to the sanitary sewer system that serves the Coalfields Industrial Park. Increasing the sewer capacity to 260,000 gallons per day at the Coalfields Industrial Park makes that site more attractive to businesses looking to relocate to the area.

Shaping Our Appalachian Region, Inc. (“SOAR”): $25,000
The grant to SOAR was assist in fulfilling the organization its mission of expanding job creation, enhancing regional opportunity, innovation, and identity, improving the quality of life, and supporting all those working to achieve these goals in Appalachian Kentucky. The grant was the first of a three year commitment.

City of Pikeville: $75,000
The grant to the City of Pikeville provided the City with the funding necessary to hire engineers to design the “last mile” portion of the broadband infrastructure provided through the KentuckyWired project. The City’s project provided the engineering design necessary to extend broadband service from backbone to individual customers and businesses. The access to high-quality broadband service will help the City of Pikeville attract new business to the area.

One East Kentucky: $37,500
The grant to One East Kentucky allowed for the completion of an Aerospace Assessment and Marketing Plan for the region. As a result of the assessment and marketing plan, communities served by One East Kentucky received the AEROready designation. This designation helps One East Kentucky give assurances to private aerospace and aviation companies that an independent firm has verified that the workforce and assets of the region can support their facilities.

Big Sandy Regional Industrial Development Authority (“BSRIDA”): $100,000
The grant to BSRIDA provided the final funding necessary to purchase Logan Corporation’s facility in Martin County. Logan Corporation sought to sell the property so that it would be able to purchase a larger facility in Magoffin County to expand its business. The facility in Martin County was insufficiently sized to support Logan’s operations as it transitioned from manufacturing mining equipment to dump truck beds. As a result, none of the 35 jobs at Logan’s facility will be lost from the region and Logan will eventually create 80 jobs at its Magoffin County facility. In addition, the BSRIDA now owns an industrial facility it can market to potential new businesses.

Big Sandy Community and Technical College (“BSCTC”): $75,000
The grant to BSTSC supported the purchase of equipment for the college’s new Advanced Technology Center at its Pikeville campus. This equipment helps students in BSCTC’s Fiber Optics Technician training program develop the skills necessary to serve as certified technicians for the new broadband infrastructure to be installed in the region through the KentuckyWired project.

Ashland Alliance: $84,000
The grant to Ashland Alliance was for two projects: (1) to obtain an AEROready certification for Greenup and Boyd Counties and (2) to hire an outside consultant to assist with the region’s marketing and branding efforts. As a result of the funds provided through the K-PEGG grant, Ashland Alliance obtained the AEROready certification. This designation helps Ashland Alliance give assurances to private aerospace and aviation companies that an independent firm has verified that the workforce and assets of the region can support their facilities. Additionally, Ashland Alliance obtained a marketing and branding plan that will assist Ashland Alliance market the region to interested companies.

Floyd County Fiscal Court: $100,000
The grant to the Floyd County Fiscal Court provided bridge funding for pre-construction project development activities including site evaluation and engineering for the RCC Big Shoal, LLC gas-to-liquids project. The facility will be located on a reclaimed coal mine and will provide the equivalent of 500-600 jobs during construction. Once complete, the project is anticipated to result in 50 to 75 full-time jobs.

Ashland Alliance: $15,000
The grant to the Ashland Alliance offset a portion of the cost of upgrading an existing natural gas line at the Wurtland Riverport Industrial Park. The natural gas line upgrade was necessary to attract Steel Ventures, a West Virginia based company, to construct a steel galvanizing and distribution facility at the industrial park. Steel Venture’s new facility will eventually employ 65 personnel.

KEAP Grant Recipients

The KEAP program, created in 2014, provided $1 million in economic development assistance to customers over five years. The program ended in 2018. KEAP is specific to seven counties in Kentucky Power’s service area – Boyd, Carter, Elliott, Lawrence, Johnson, Martin and Morgan. The grants were awarded for programs and projects, such as job retention; expansion surveys; wage and benefit surveys; retaining and attracting new industries; and conducting special studies.

2017

Eastern Kentucky Advanced Manufacturing Institute (eKAMI):$50,000
to refurbish its Paintsville facility into an education center. The institute will focus on re-training out-of-work coal miners in skills needed for advanced manufacturing.

Ashland Alliance: $17,500
for a project to seek build-ready certification at the East Park Industrial Site in the greater Ashland area.

One East Kentucky: $88,200
The funds assisted One East Kentucky in jumpstarting the new location of Thoroughbred Aviation Maintenance’s new facility at the Big Sandy Regional Airport in Martin County.

Ashland Community and Technical College: $25,000
The grants assisted in the purchase of equipment for its new fiber optics training program.

Paintsville-Johnson County Chamber of Commerce: $20,000
The funds allow the Chamber to support American Metal Works in obtaining ISO 9001 and AS9100 certifications. The designations will allow the company to better compete for military and aerospace industry contracts.

Gateway, FivCo and Big Sandy Area Development Districts: $3,300
The grant will allow each district to send one representative to sit for the Certified Economic Developer exam as well as a test preparatory course.

Lawrence County Fiscal Court: $18,000
The funds assisted in purchasing equipment for a first and only Teleworks hub in the county.

2016

Ashland Alliance / Northeast Kentucky Regional Industrial Authority: $45,000
The grant provided fuding for a project at the East Park Industrial Site in the greater Ashland area. The grant funded various improvements of an existing 110,000 square foot specification building at the park. Project included $5,000 in local matching funds.

Gateway, FivCo and Big Sandy Area Development Districts: $10,400
The grants allowed each district to send one representative to the third year of training at the three-year Oklahoma University Economic Development Institute. The grant also funded attendance of additional staff to the Kentucky Institute of Economic Development basic course in Lexington.

City of Olive Hill: $25,000
The grant provided funding for the preliminary engineering services for surveying, measurements of existing wastewater treatment facilities and equipment as well as preliminary layout and design as part of a capital project to upgrade the city’s wastewater treatment facility.

FIVCO Area Development District: $4,000
The funding allowed East Park Industrial Park to enhance their marketing including signage to on the property and additional marketing materials.

Louisa Chapter of the Southeast Kentucky Chamber: $92,750
The funds assisted the Chamber in supporting Quality Metal Products of Louisa in purchasing new equipment that will allow the company to fabricate new products and increase their production by 18 to 24 percent. This project will add six new jobs at the facility.

2015

Northeast Kentucky Regional Industrial Authority: $100,000
The grant was used to prepare a build-ready site in East Park, a multi-county industrial park owned by Boyd, Carter, Lawrence, Greenup and Elliot counties. The site now will accommodate a 100,000 square foot building with expansion opportunities.

Louisa Chapter of the Southeast Kentucky Chamber of Commerce: $90,300
The grant was used to renovate an existing 86,000 square foot building adjacent to Browns Food Service in Louisa and market it as a site-ready business location.

Gateway, FivCo and Big Sandy Area Development Districts: $9,700
The grant allowed each district to send one representative to the second year of training at the three-year Oklahoma University Economic Development Institute. The grant also will fund attendance of additional staff to the Kentucky Institute of Economic Development basic course in Lexington.

2014

Big Sandy Area Development District: $8,000
The development district received $8,000 for advanced economic training for three individuals from all three local area development district offices: Big Sandy ADD; FiveCo ADD and Gateway ADD. The training was for the first year of the Certified Economic Developer Program through the University of Oklahoma.

City of Paintsville: $100,000
The city was awarded $100,000 to further develop and enhance the Teays Branch economic development site at 120 Scott Perry Drive. The funds were used primarily to facilitate the construction of adequate parking space to better market the site for potential development.

Louisa Chapter Southeast Kentucky Chamber of Commerce: $92,000
The chapter used the funds to assist in the development of new business – a metal, roofing and building-supply company – based in Louisa that is expected to have a near-term benefit of 10-20 new, skilled labor positions.

 

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