AEP Named One Of The Nation's Top 10 Utilities For Economic Development

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Sep 14, 2017, 10:52 ET

COLUMBUS, Ohio, Sept. 14, 2017 /PRNewswire/ -- Site Selection Magazine has named American Electric Power (NYSE: AEP) one of the nation's top 10 utilities for economic development. It is the sixth consecutive year AEP has been recognized by the magazine.

Site Selection's September issue profiles AEP, which was chosen based on its efforts to cultivate commercial and industrial business development and create jobs. Factors the magazine considered include end-user project activity; website tools and data; innovative programs and incentives for business; and the utility's own job-creating infrastructure and facility investment trends.

"This recognition underscores AEP's vision of powering a new and brighter future for our customers and communities," said Mark James, vice president of economic and business development. "The collaborative efforts of AEP with our local, state and regional economic development partners have been key to successfully creating value for our customers, and driving jobs and investments to our 11-state region."

In 2016, AEP's economic and business development team helped attract and retain more than 7,200 direct jobs and $2.6 billion in capital investments.

One of AEP's most notable economic development projects last year was Sofidel's $300-million paper plant in Circleville, Ohio, which required the relocation of a transmission line. AEP's proactive efforts also helped Ashland, Kentucky, land one of its biggest economic development projects in recent years. Braidy Industry's $1.3 billion aluminum rolling mill will bring 550 jobs to the area. AEP also has recently contributed to Amazon and Facebook's decisions to locate data centers in Central Ohio, as well as ExxonMobil's decision, in partnership with SABIC, to locate an ethane steam cracker in South Texas.

American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP's more than 17,000 employees operate and maintain the nation's largest electricity transmission system and more than 224,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.4 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 33,000 megawatts of diverse generating capacity, including 4,200 megawatts of renewable energy. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide.

SOURCE American Electric Power