FPL named one of nation's top 10 utilities for economic development

News provided by

Sep 11, 2013, 02:00 ET

JUNO BEACH, Fla., Sept. 11, 2013 /PRNewswire/ -- Florida Power & Light Company has been named to Site Selection magazine's list of "Top 10 Utilities in Economic Development" for 2013 – the first time the company has achieved the prestigious distinction.

(Logo: http://photos.prnewswire.com/prnh/20120301/FL62738LOGO)

Site Selection delivers expansion-planning information to 45,000 corporate executives and site consultants responsible for choosing where companies locate. The Top Utilities article appears in the magazine's September 2013 edition and online at www.SiteSelection.com.

"As an electric utility that serves nearly half of Florida, we are committed to doing our part to spur investment and job creation statewide, because when Florida's economy grows, we all win," said FPL President Eric Silagy. "Economic development is a competitive team sport, and this award is further recognition of the effective partnership we have with Enterprise Florida and our local economic development partners throughout the state. Together, we are working to help fuel economic growth and create jobs for Floridians."

The honor, awarded annually by the magazine's editors, is based on a combination of criteria, such as job creation and capital investment in a utility's service area, a utility's website tools and data, innovative program offerings for businesses and input from site location decision-makers throughout the United States.

Launched in 2011, FPL's economic development program includes special discounted electric rates for new and expanding businesses that create jobs for Floridians and meet certain electricity usage criteria. While FPL's rates are already significantly lower than the national average, the discounted economic development rates serve as an added incentive for companies considering moving to or expanding in Florida.

In January 2013, FPL launched www.PoweringFlorida.com, an innovative, online resource that helps market Florida's numerous assets to prospective businesses. Integrating third-party data about the state's workforce, available real estate and potential incentives, the website provides site selectors around the globe with a comprehensive tool to evaluate Florida's diverse assets. In addition, the www.PoweringFlorida.com resource center provides local economic development agencies in Florida with critical tools free of charge to help them promote their community's strengths, increasing their competitive advantage by targeting businesses that fit their workforce.

To date, more than two dozen companies have signed up for FPL's economic development rate. For example, earlier this year FPL was part of a joint effort among Enterprise Florida, Inc., Lee County officials and private-sector supporters that secured the relocation of Hertz Corporation's world headquarters from New Jersey to the Fort Myers, Fla. area – a deal that will create an estimated 700 jobs in Florida.

"The past year has seen the successful flowering of the new economic development arm at FPL, which in 2012 helped make possible $1.8 billion in new corporate facility projects that will create more than 16,900 jobs," noted the magazine on its website, www.SiteSelection.com.

"This year's Top Utilities know how to help companies, projects and communities hit growth milestones," said Site Selection Managing Editor Adam Bruns. "And they all know it takes a lot more than special rates to get there."

Florida Power & Light Company
Florida Power & Light Company is the largest rate-regulated electric utility in Florida and serves the third-largest number of customers of any electric utility in the United States. FPL serves approximately 4.6 million customer accounts and is a leading Florida employer with approximately 10,000 employees as of year-end 2012. During the five-year period ended December 31, 2012, the company delivered the best service reliability among Florida investor-owned utilities. As of year-end 2012, its typical residential customer bills are the lowest in Florida, and based on data available in July 2012, are about 26 percent below the national average. A clean energy leader, FPL has one of the lowest emissions profiles and one of the leading energy efficiency programs among utilities nationwide. FPL is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.FPL.com.

SOURCE Florida Power & Light Company