ASHLAND, Ky., May 2, 2024 – Kentucky Power recently announced a $200,000 Kentucky Power Economic Growth Grant (K-PEGG) award to SOAR that will assist in the expansion of its new employment program in an effort to bolster a big economic impact. The program, EKY Remote, offers a work-from-home incentive the company hopes will propel more people to make a move to eastern Kentucky.
Bob Shurtleff (left), southern territory external affairs manager, and Amanda Clark, eastern territory external affairs manager announced the K-PEGG grant award with SOAR's Executive Director, Colby Hall (middle), during the 2024 SOAR Gala on April 27.
EKY Remote is the region's first dedicated remote worker attraction program. The program was established by SOAR, which stands for Shaping Our Appalachian Region, to help stop population loss in eastern Kentucky by supporting job growth. SOAR, a Pikeville-based non-profit organization, will use the K-PEGG funding to expand the EKY Remote program from just a 4-county service area to more than 25 counties.
According to Amanda Clark, Kentucky Power’s eastern territory external affairs manager, the K-PEGG program began in 2016. Since then, Kentucky Power has awarded a total of more than $5.4 million through 92 grant applications for projects to enhance economic development programs and projects that promote the creation and retention of manufacturing and/or industrial investment and jobs in the company’s 20-county service territory.
“Because Kentucky Power works diligently to attract economic development to its service area, we want to partner with organizations with the same goal,” said Clark. “SOAR’s EKY Remote program is well-aligned with our mission to bring new businesses and jobs to our service area.”
Colby Hall, SOAR’s executive director, reported that EKY Remote is projected to recruit 100 new households, creating 170 new jobs and generating over $27 million in local economic impact over the next five years.
“Kentucky Power has been a supporter of SOAR since its inception more than 10 years ago,” Hall said. “As our organization grows and evolves to meet the needs of eastern Kentucky, it is only possible thanks to the consistent and reliable partnership with Kentucky Power. We truly could not do it without them."
The K-PEGG program assists in the funding of economic development programs that promote the creation and retention of manufacturing and/or industrial investment and jobs. The program is a partnership between Kentucky Power and its customers. Commercial and industrial customers contribute $1 monthly; and company stockholders match the customer contributions to generate nearly $800,000 annually for investment at the local and regional levels. The program is available in all 20 counties served by Kentucky Power. More information is available at KentuckyPower.com/Development.