Site Selection Magazine Names AEP Among Top Utilities For Economic Development Three Years In A Row

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Sep 05, 2014, 03:54 ET

COLUMBUS, Ohio, Sept. 5, 2014 /PRNewswire/ -- American Electric Power (NYSE: AEP) has been named one of the nation's top 10 utilities for economic development by Site Selection magazine for the third consecutive year. The list appears in the magazine's September edition.

The top 10 companies were chosen based on several criteria, including 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.

"AEP is honored to be recognized as one of the top utilities for economic development," said Mark James, AEP's vice president of economic and business development. "In today's economy, it is vital for us to build partnerships with our local, state and regional economic development allies and the business sector to foster job growth and retention."

Site Selection recognized AEP for its site certification programs for data centers and industrial sites. AEP has nine qualified data center sites and 11 candidate industrial sites working toward certification by early 2015. The certification process provides technical, environmental and infrastructure assessments to help corporate real estate executives reduce risk, reduce cost and expedite speed to market for new development projects.

The AEP economic and business development team helped attract or retain nearly 25,000 jobs across its service territory in 2013. Businesses receiving AEP's site selection assistance last year made capital investments totaling $3.5 billion in their new facilities. The shale oil and gas industry segment, as well as expansion opportunities in AEP's managed national account portfolio, represent a significant portion of the team's business development opportunities.

AEP also provides economic and business development services to automotive manufacturers and suppliers, along with other key industries. Additional information about AEP's economic and business development services is available at http://www.aeped.com.

More information about Site Selection, including the list of the top 10 utilities for economic development, is available at http://www.siteselection.com.

American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5.3 million customers in 11 states. AEP ranks among the nation's largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation's largest electricity transmission system, a more than 40,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP's transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP's utility units operate as 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's headquarters are in Columbus, Ohio.