Site Selection magazine has named AEP a top utility for economic development in its 2021 ranking. The annual ranking is based on the company’s corporate project investment and job creation on a cumulative and per-capita basis.
“Year after year, our team of economic development professionals create economic activity that provide opportunities for everyone,” said Tim Wells, vice president of economic and business development. “We’re proud our efforts continue to be recognized. This is a testament to our mission and our belief that we have the power to make a difference in people’s lives, lifestyles and livelihoods.”
AEP has earned the top ranking in nine of the last 10 years.
AEP posted another impressive year of results in 2020. The economic and business development team helped attract more than $2.7 billion in capital investment and 10,870 new direct jobs in the company’s 11-state territory.
As COVID-19 threatened local economies, AEP proactively moved to limit the damage, creating a team to help more than 1,900 small businesses apply for relief loans and forming a partnership with the Reshoring Institute and the Reshoring Initiative to help manufacturers find domestic alternatives to overseas facilities that are vulnerable to supply chain and logistics threats.
In addition, the AEP team worked to bring broadband internet access to rural and underserved communities in Virginia and is planning to grow that effort to other regions. AEP is a founding member of the Electric Highway Coalition, an effort to install charging stations on major travel routes across large swaths of the nation. In partnership with local government or native tribal councils, workplaces and operators of multi-family dwellings, we are installing charging stations in Ohio and Oklahoma.
Read Site Selection’s full profile of AEP’s efforts here.
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