AEP Recognized As A Top Utility For Economic Development

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Sep 10, 2020, 14:24 ET

COLUMBUS, Ohio, Sept. 10, 2020 /PRNewswire/ -- Site Selection magazine has named American Electric Power (NYSE: AEP) one of the nation's Top Utilities in Economic Development.

Every year, Site Selection evaluates utilities' corporate project investment and job creation on a cumulative and per-capita basis. AEP is one of 20 companies to receive the recognition.

"We're thrilled to be recognized once again by Site Selection for bringing growth and valuable jobs to our service territory," said Mark James, vice president of Sales, Economic and Business Development. "Our economic development programs are a reflection of AEP's commitment to delivering more than energy to our customers. We'll continue to work with businesses to meet their strategic goals, while also partnering with our communities to create new economic opportunities."

In 2019, AEP's economic and business development team helped attract more than $4.1 billion in capital investments and 8,636 jobs in the company's 11-state territory. In addition to the team's 89 expansion or new location projects, highlights of AEP's work in 2019 include:

Continued investment in its shovel-ready Quality Sites inventory
Availability of economic development rider incentive rates in nine AEP states
Expansion of certified AEROready™ counties within its service territory to more than 30 to attract the aviation and aerospace industries
Creation of the West Virginia Advantage Plan, which allocates $3.4 million for site readiness projects, small business training and other economic development strategies to support and revitalize the company's Appalachian service territory

Learn more about AEP's economic development initiatives.

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 approximately 17,400 employees operate and maintain the nation's largest electricity transmission system and more than 221,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.5 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with more than 30,000 megawatts of diverse generating capacity, including approximately 5,300 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, east Texas and the Texas Panhandle). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide. For more information, visit aep.com.

SOURCE American Electric Power