October 9, 2017
ASHLAND, Ky., October 9, 2017 – An investment of nearly $37,000 in economic development grants has contributed to nearly 100 new jobs in eastern Kentucky within a matter of months.
Earlier this year, Kentucky Power awarded an $18,700 Kentucky Power Economic Development Growth Grant (KPEGG) to the Pike County Fiscal Court. The funds were used to market job training, placement services and other activities at the Pike County Teleworks hub.
Kentucky Power also awarded an $18,000 Kentucky Power Economic Advancement Program (KEAP) grant to the Lawrence County Fiscal Court. The grant was to fund equipment for a new Teleworks hub. The company connects work-from-home employment opportunities with major employers like Home Depot and U-Haul with jobseekers in eastern Kentucky. Teleworks’ September report shows 90 people have gotten jobs through the Pike County hub and two at Lawrence County hub. The Lawrence County facility conducted its grand opening last week and expects the number of employed to grow dramatically in coming weeks with new applicants coming in daily.
“Kentucky Power is taking a leading role in economic development in eastern Kentucky with our grants and recruitment efforts to attract new businesses and industries that will provide good jobs in the communities we serve,” said Kentucky Power President Matt Satterwhite. “These grants show our long-term goals to promote economic growth for all are working. When our communities grow, we all benefit.”
The K-PEGG is funded through the Kentucky Economic Development Surcharge approved by the Kentucky Public Service Commission in 2015. For every 15 cents collected monthly from customers, company stockholders match the customer contributions dollar for dollar to generate more than $600,000 annually for investment at the local and regional levels. The program is available in all 20 counties served by Kentucky Power.
The KEAP program, created in 2014, will provide $1 million in economic development assistance to customers over five years. KEAP is specific to seven counties in Kentucky Power’s service area – Boyd, Carter, Elliott, Lawrence, Johnson, Martin and Morgan. 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.
Grant applications are reviewed by a six-member committee. Members include employees and delegates of the Kentucky Association of Economic Development and the Kentucky Economic Development Cabinet. More is posted at kentuckypower.com/info/community/economic/. Kentucky Power, based in Ashland, Kentucky, provides electric service to about 168,000 customers.
