BSCTC, ONE EAST get checks from power company for creating jobs
PRESTONSBURG, Ky., March 14, 2016 – Big Sandy Community and Technical College and One East Kentucky, a non-profit organization tasked with recruiting new industry jobs and investment to nine eastern Kentucky counties, are recipients of Kentucky Power grants totaling $77,000.
“Kentucky Power takes great pride in working with local, regional and state organizations to promote stronger economies and economic growth in the communities we serve,” Greg Pauley, Kentucky Power president and chief operating office, said Monday. “We are doing what we can to assist in the development of our region and in adding meaningful, sustainable and good paying jobs. Through our grant programs, we are striving to be a partner for progress.”
One East Kentucky received $60,000 through the new Kentucky Power Economic Development Growth Grants (K-PEGG). The K-PEGG is funded through the Kentucky Economic Development Surcharge approved by the Kentucky Public Service Commission in 2015. For every 15 cents collected monthly from customers, company stockholders match the customer contributions dollar for dollar to generate $600,000 annually for investment at the local and regional levels in the 20 counties served by Kentucky Power. The program is available in all 20 counties served by Kentucky Power.
“This grant will help fund business recruitment to our area,” said Charles Sexton, CEO of One East Kentucky. “We appreciate Kentucky Power for its generous contribution and support of One East Kentucky and eastern Kentucky.”
Big Sandy Community and Technical College received $16,500 to support energy efficiency efforts, including job training in the energy efficiency field. The award is part of Kentucky Power’s multi-year commitment to provide $1 million to communities in Eastern Kentucky through 2019.
The energy efficiency grant was created as part of a 2014 agreement with the Kentucky Public Service Commission and other interveners to provide economic development assistance to customers in Kentucky Power’s service area.
“Both grants are meant to assist with the funding of economic development projects that promote the creation and retention of jobs in eastern Kentucky,” said Brad Hall, Kentucky Power’s external affairs manager for economic development. “The funds are meant to foster development in our area.”
Kentucky Power, with headquarters in Frankfort, Ky., provides service to about 169,000 customers in all or part of 20 eastern Kentucky counties. It is a unit of the AEP system, one of the largest electric utilities in the United States, with more than 5 million customers in 11 states.
