FORT WAYNE, Ind., February 15, 2023 – Indiana Michigan Power (I&M) granted $126,000 to 11 organizations and communities to help boost job growth and enhance local economies.
I&M awarded grants to assist economic development activities across the area that I&M serves with two important programs to support and heighten the economic health of their communities.
Property Development Grants help identify and prepare properties for future business and industrial uses.
Initiatives Grants help economic development organizations launch new programs that highlight the communities they serve and encourage business attraction and expansion.
Property Development Grants
“Due to the phenomenal growth our communities have experienced, the inventory of ready industrial sites has dwindled,” said Ashley Savieo, I&M director of Economic Development. “It has become increasingly crucial for communities to be fully prepared to market and be responsive to inquiries from businesses searching for a development ready site.”
I&M is providing $83,500 in grants to help study and develop such properties. (Many of the individual grants were awarded jointly to multiple agencies working together, such as local economic development organizations, counties and cities.)
Those grants are:
- Muncie-Delaware County Economic Development Alliance; Delaware County; city of Muncie: $21,000 for site environmental studies on a property in Industria Centre Industrial Park.
- South Bend Regional Chamber; St. Joseph County; city of South Bend: $25,000 for due diligence studies on a 168-acre property located on Nimtz Parkway in South Bend.
- Wells County Economic Development; Wells County; town of Ossian: $25,000 to develop a build-ready site on 13 acres of the Park One Ossian Industrial Park.
- Be Noble Inc.; Noble County Economic Development; Noble County; city of Kendallville: $12,500 for due diligence activities including soil borings to validate soil composition and a full survey for a new industrial site.
“Communities across I&M’s service areas boast competitive advantages including available energy, other utilities, viable locations, favorable costs of doing business and quality of life,” said Shelley Klug, I&M Economic & Business Development manager. “But attracting jobs and helping local economies grow is increasingly competitive for our communities. These grants help with skills and tools for communities, organizations and civic leaders to attract more jobs in business and industry.”
I&M is awarding an $42,500 in grants to help communities attract jobs. Those grants are:
- Cornerstone Alliance; Berrien County, Mich.; city of Benton Harbor: $5,000 to develop an Economic Development presentation for elected officials, municipal and community leaders, and others.
- South Bend-Elkhart Regional Partnership; counties of St. Joseph, Elkhart, Marshall:
- Two grants:
- $5,000 for a marketing video featuring the Michiana area.
- $5,000 to develop an educational program about effective strategies and benefits of economic development to share with multiple stakeholder groups.
- Muncie-Delaware County Economic Development Alliance: $5,000 for website upgrades.
- City of New Haven: $5,000 to conduct a hotel and retail study.
- Randolph County United; Randolph County: $2,500 to add an economic development focused podcast to spotlighting the growth build awareness of community activities.
- Be Noble Inc.; Noble County; cities of Kendallville, Albion and Ligonier, town of Avilla: $5,000 to support the development of physical co-working spaces.
- City of Gas City: Awarded $5,000 for marketing materials for the of I-69 and SR 22 commercial corridor.
- Northeast Indiana Regional Partnership: $5,000 for a familiarization tour of Northeast Indiana to host five site location consultants advising clients on the best locations for business in the Midwest.
I&M serves a large portion of southwest Michigan and in Indiana’s northeast, north-central and east-central regions. More information is available on the American Electric Power Economic Development Web site: https://www.aep.com/economic-development/
For more information about how I&M works with communities and organizations, please contact Ashley Savieo or Shelley Klug.
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Indiana Michigan Power (I&M) is headquartered in Fort Wayne, and its approximately 2,100 employees serve more than 600,000 customers. More than 80% of its energy delivered in 2021 was emission-free. I&M has at its availability various sources of generation including 2,278 MW of nuclear generation in Michigan, 450 MW of purchased wind generation from Indiana, more than 22 MW of hydro generation in both states and approximately 35 MW of large-scale solar generation in both states. The company’s generation portfolio also includes 2,620 MW of coal-fueled generation in Indiana.
American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP’s approximately 17,000 employees operate and maintain the nation’s largest electricity transmission system and more than 224,000 miles of distribution lines to safely deliver reliable and affordable power to 5.5 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 6,900 megawatts of renewable energy. The company’s plans include growing its renewable
generation portfolio to approximately 50% of total capacity by 2032. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and has committed to achieving net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity 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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