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We work strategically with businesses, communities, government and economic development partners to facilitate business location and expansion in our 20-county service territory. In recent years, we have strategically invested nearly $6 million in the region. Together, we are building a stronger eastern Kentucky.
Powering local economic growth with grants
With a tradition of innovation, we're powering a greener future for us all.
Our comprehensive industry-leading energy services clear your path forward, providing limitless possibilities.
We currently support local economic development efforts through the merit-based Kentucky Power Economic Growth Grant Program (K-PEGG).
The K-PEGG program provides resources for attracting new businesses, helping existing business customers expand, and assisting with developing new business and industrial real estate product, and economic development educational opportunities.
With extensive economic development experience and strong relationships with state and local development officials, Kentucky Power helps our communities manage every step of the business recruitment process. Our local economic development experts work confidentially with prospective and existing businesses and industries, with our partners to identify smart and effective business opportunities in Kentucky.
Our economic and business development team offers custom location advisory services for businesses interested in locating or expanding in eastern Kentucky. Our services, offered confidentially and without cost or obligation, include:
We offer an Economic Development Rider to encourage development through reductions in electric rates for major expansions and new investment.
It's easy to imagine your business taking flight in Kentucky. According to the National Association of Manufacturers, the state has the second largest percentage of manufacturing workers in the south, and the ninth lowest cost of doing business. The advantages of doing business in Kentucky are boundless.
Economy Overview
Appalachian Tank, a subsidiary of Platinum Tank Group, joined the Industrial Park at 479 Industry Drive in Pikeville in November of 2021. For the next eight months, the company worked to prepare the plant and to hire the employees needed to begin active production in July 2022. Appalachian Tank is a manufacturing facility building high quality aluminum tanks used primarily for transportation, delivery and distribution of refined fuel.
Infinity Design & Construction Group to add second location in Floyd County with $1.75 million investment creating 36 high wage jobs.
Links to education opportunities:
1645 Winchester Ave. Ashland, KY 41101 acclark1@aep.com
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