COLUMBUS, Ohio, Sept. 3,
2024 /PRNewswire/ -- American Electric Power (Nasdaq:
AEP) was named one of the nation's Top Utilities in Economic
Development by Site Selection magazine.
Site Selection annually evaluates utilities' involvement
and support of corporate project investment and job creation on a
cumulative and per-capita basis. AEP has earned a place on the list
12 of the last 13 years.
"2023 was a record year for economic development at AEP, and
it's an honor to be recognized by Site Selection for our
team's efforts to bring growth to the communities we serve," said
Tim Wells, vice president, Sales,
Economic and Business Development. "AEP supported and helped drive
92 new economic development projects across our service territory
last year. This sort of success doesn't happen overnight, and it
requires collaboration and teamwork with numerous internal AEP
teams, along with our customers and partners at the federal, state
and local levels."
In 2023, AEP's economic and business development efforts helped
attract projects that will eventually result in more than
$35 billion in capital investment and
the creation of over 10,400 new direct jobs in the company's
service territory. Some of AEP's economic and business development
highlights of 2023 include:
- Nucor's $2.7 billion investment
to build a state-of-the-art sheet steel manufacturing facility in
Mason County, West Virginia is in
progress. Appalachian Power will provide service to Nucor by 2025,
making Nucor the largest single customer for Appalachian Power.
More than 800 jobs will be created at the site.
- SLB plans to convert 1 million square feet of the former
General Motors Assembly Plant in Shreveport, Louisiana into its Shreveport
Technology Center to build data center racks. SLB's $18.5 million investment is projected to bring in
nearly 600 new jobs.
- TekniPlex is building a $45
million facility in Van Wert,
Ohio to make egg cartons. The site was selected due to the
need for electricity, and it being certified for food and beverage
production. The project will create 100 jobs in AEP Ohio's service
territory.
- More than 250 individuals benefited from a
self-paced e-learning course, "Energizing Economic
Development," designed to help community leaders learn how to
successfully drive community economic development.
About AEP
At American Electric Power, based in Columbus, Ohio, we understand that our
customers and communities depend on safe, reliable and affordable
power. Our nearly 16,000 employees operate and maintain more than
40,000 miles of transmission lines, the nation's largest electric
transmission system, and more than 225,000 miles of distribution
lines to deliver power to 5.6 million customers in 11 states. AEP
also is one of the nation's largest electricity producers with
nearly 29,000 megawatts of diverse generating capacity, including
approximately 6,000 megawatts of renewable energy. AEP is investing
$43 billion over the next five years
to make the electric grid cleaner and more reliable. We are on
track to reach an 80% reduction in carbon dioxide emissions from
2005 levels by 2030 and have a goal to achieve net zero by 2045.
AEP is recognized consistently for its focus on sustainability,
community engagement and inclusion. 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, which provides
innovative competitive energy solutions nationwide. For more
information, visit aep.com
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SOURCE American Electric Power