Eastern Kentucky fueled by Kentucky Power’s commitment to Economic Development
Announced May 7th, the grants are part of the Kentucky Power Economic Advancement Program (KEAP), which includes a commitment to provide $1 million to communities in Eastern Kentucky through 2019.
The KEAP program was created as part of a 2014 agreement with the Kentucky Public Service Commission and others as a means to provide economic development assistance to customers in Kentucky Power’s service area.
The grants must be used for programs and projects such as job retention; expansion surveys; wage and benefit surveys; retaining and attracting new industries; and conducting special studies.
The recipients of the 2015 KEAP grants are:
The Northeast Kentucky Regional Industrial Authority
- Awarded $100,000
- Prepare a build-ready industrial park owned by five counties
- Site would accommodate a 100,000 square foot building with expansion opportunities
The Louisa Chapter of the Southeast Kentucky Chamber of Commerce
- Awarded $90,300
- Renovate an existing 86,000 square foot building
- Market the location as site-ready for businesses
Gateway, FivCo, and Big Sandy Area Development Districts
- Awarded $9,700
- Allow each district to send one representative to the second year of training at Oklahoma University Economic Development Institute
- Fund attendance of additional staff to the Kentucky Institute of Economic Development basic course in Lexington
Kentucky Power is working with local, regional, and state organizations to ensure a better economic environment to those within its reach.
“We are doing what we can to assist in the development of our region and in adding meaningful, sustainable and good paying jobs. Through KEAP, and other programs, we are striving to be a partner for progress,” says Greg Pauley, Kentucky Power president and chief operation officer.
The effects of the 2015 KEAP recipients should be direct and immediate on their environments and the results should bring pride to the entire Eastern Kentucky region.