PRESTONSBURG – Big Sandy Community and Technical College and One East Kentucky, a non-profit organization focused on bringing jobs and new industry to the Eastern Kentucky landscape, were the recipients of an economic development grant that will create jobs and generate revenue in the communities of Eastern Kentucky on Monday. Kentucky Power has pledged to assist in the economic development of Eastern Kentucky and nine eastern Kentucky counties, are recipients of Kentucky Power grants totaling $77,000.
“Kentucky Power takes great pride in working with local, regional and state organizations to promote stronger economies and economic growth in the communities we serve,” Greg Pauley, Kentucky Power president and chief operating office, said Monday. “We are doing what we can to assist in the development of our region and in adding meaningful, sustainable and good paying jobs. Through our grant programs, we are striving to be a partner for progress.”
“Big Sandy Community and Technical College is committed to improving this region. We are a transformation agent to do economic upgrades in our community. We want to help our community understand how to live more efficiently. We have to make changes to succeed. Those who change will make things happen. Having partners like Kentucky Power, One East Kentucky, and Soar allow us to change and build our future, one student at a time,” said Devin Stephens, President of BSCTC.
BSCTC was the recipient of $16,600. The award is part of Kentucky Power’s multi-year commitment to provide $1 million to communities in Eastern Kentucky through 2019.
One East Kentucky received $60,000 through the new Kentucky Power Economic Development Growth Grants (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 $600,000 annually for investment at the local and regional levels in the 20 counties served by Kentucky Power.
Both grants are investments in the future of Eastern Kentucky. The focus is economic development.
“We want to use these funds to attract industry and showcase the talented workforce we have in Eastern Kentucky,” said Charles Sexton, CEO of One East Kentucky.
Kentucky Power, headquartered in Frankfort, Kentucky provides service to about 169,000 customers and is one of the largest electric utilities in the United States. It is a unit of the AEP system. Kentucky Power sees the talent in Eastern Kentucky and is willing to invest to make Eastern Kentucky communities more attractive to industries. The outcome will be more jobs, better economics, and lower unemployment.
Andrea Saddler is a reporter for the Floyd County Times. She can be reached at 606-794-0290.