NATIONAL MAGAZINE HIGHLIGHTS KY POWER’S EFFORTS IN ECONOMIC DEVELOPMENT
ASHLAND, Ky., September 17, 2018 – Site Selection Magazine has cited Kentucky Power’s successful economic development efforts in naming American Electric Power as one of the nation’s top 10 utilities for economic development.
Site Selection’s September issue profiles AEP, which was chosen based on its efforts to cultivate commercial and industrial business development and create jobs in Kentucky and other states it serves. The magazine considered several factors, including project activity and the jobs and capital investments that resulted from those projects.
Braidy Industries’ $1.3 billion aluminum rolling mill being built in Ashland, Kentucky, is
highlighted by the magazine. The project’s 550 plus jobs are among 7,330 direct jobs and more than $12 billion in capital investments made last year in AEP territory. The magazine also touted Appalachian Sky. The initiative’s purpose is to aggressively attract aerospace and aviation industry to the central Appalachia region. Appalachian Sky was inspired by the intelligence and work ethic of the coal mining communities as captured in the movie “October Sky.”
“Economic development is at the center of our long-term strategy and this recognition reinforces that our pursuits are in the best interest of the communities we serve,” said Kentucky Power President Matt Satterwhite. “When we first started working on Appalachian Sky, many people both inside and outside Kentucky, had no idea Kentucky was No. 2 in aerospace exports. We are successfully changing the view that central Appalachia, and especially eastern Kentucky, is posed to capture the growing aerospace business and put coal miners and steelworkers back to work and help our communities prosper.”
In recognizing AEP, Site Selection also cited a “regional workforce analysis in AEP’s Kentucky territory that showed coal miners have transferable skills to the aerospace and advanced manufacturing industries.” In addition, Kentucky Power has worked with its local partners to commission a leading aerospace consultant to determine the viability of aerospace in Appalachia’s coal and steel country. The consultant certified 19 counties as AeroReady in the Tri-State region of Kentucky, Ohio and West Virginia, furthering the claim that aerospace can thrive in the area.
Kentucky Power, based in Ashland, provides electric service to about 168,000 customers in 20 eastern Kentucky counties, including Boyd, Breathitt, Carter, Clay, Elliott, Floyd, Greenup, Johnson, Knott, Lawrence, Leslie, Letcher, Lewis, Magoffin, Martin, Morgan, Owsley, Perry, Pike and Rowan. Kentucky Power is an operating company in the American Electric Power system, one of the largest electric utilities in the U.S., serving 5.4 million regulated customers in 11 states.