Site Selection, the international economic development magazine, has named LG&E and KU among an elite group of the top 20 utilities in the U.S. for corporate facility investment and job creation in their territories in 2018. The evaluation included a field of approximately 3,300 electric utilities across the country.
“We strive to bring growth and expansion to the territories we serve, and it’s a tremendous honor to be recognized for our dedication to helping empower economic prosperity,” said Beth McFarland, LG&E and KU vice president–Customer Services. “Driving economic development not only helps the success of new and expanding businesses, but ultimately enhances the quality of life for the communities where we live, work and raise our families.”
Site Selection recognized LG&E and KU for several crucial efforts to promote economic development, including investing $2.2 billion in infrastructure improvements to benefit existing and future customers, and helping create more than 7,500 jobs. LG&E and KU made upgrades to two hydroelectric plants, provided nearly $1.5 million in economic development demand credits through the companies’ Economic Development Rider program, and gave business and industrial customers the opportunity to invest in local solar energy and receive monthly credits through its Business Solar and Solar Share programs.
“Cultivating our relationships with existing customers and providing them with low-cost, reliable power and the infrastructure necessary to encourage growth is of paramount importance,” said John Bevington, LG&E and KU director of Business and Economic Development. “That, coupled with innovative incentives, forward thinking communities, and a dedicated team equal a winning formula. It’s why we see everyone in our company as part of the economic development team.”
Site Selection has previously honored LG&E and KU with numerous honors as a Top 10 utility for economic development, including five times since 2010. This year, however, the magazine altered the award to recognize an elite group of 20 utilities. For more details, visit siteselection.com.