AEP Recognized As A Top 10 Utility For Economic Development

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Sep 17, 2018, 10:30 ET

COLUMBUS, Ohio, Sept. 17, 2018 /PRNewswire/ -- Site Selection Magazine has named American Electric Power (NYSE: AEP) one of the nation's Top Utilities in Economic Development for the seventh consecutive year.

Site Selection's September issue profiles AEP, which was chosen based on its efforts to cultivate commercial and industrial business development and create jobs. The magazine considered factors including project activity and the jobs and capital investments that resulted from those projects.

In 2017, AEP's economic and business development team helped attract more than $12 billion in capital investments and 7,300 direct jobs. AEP also added 16 new sites to its Quality Sites certification program in 2017, bringing the total to 45 sites in the portfolio.

"We are honored to be recognized for the seventh year in a row for our efforts to attract new investments and jobs and build stronger communities throughout our service area," said Mark James, vice president of economic and business development. "Our focus is on working closely with our local, state and regional economic development partners to provide companies with all the information and resources they need to locate and expand in our 11-state territory."

AEP's recent economic development projects in 2018 include working with Sofidel on its integrated paper production plant in Inola, Oklahoma – representing a $360 million investment over three years that will create 300 jobs. AEP also helped bring a Stanley Black & Decker power tool manufacturing facility to Mission, Texas; assisted with JSW Steel's decision to invest in a steel mill in Mingo Junction, Ohio; and was involved in ElringKlinger's plans to open a new automotive parts manufacturing facility in Fort Wayne, Indiana.

More information about AEP's economic development programs can be found at https://aeped.com/.

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 219,000 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 32,000 megawatts of diverse generating capacity, including 4,300 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