RD21 - Economic Development in Appalachian Power – December 1, 2018

Executive Summary:

For over a century, Appalachian Power has been helping hometowns across our Virginia service territory grow and prosper. Appalachian Power is involved in every aspect of economic development. From site selection to incentives for community development, our work directly helps companies make investment decisions in Virginia. We partner closely with our local, regional, and state partners to recruit new companies and investments, retain and support existing businesses, and prepare communities for economic growth opportunities.

At Appalachian Power, we have staff and resources dedicated to fulfill our economic development mission. Our parent company, American Electric Power (AEP), provides corporate economic development services for the benefit of Appalachian Power and its other six subsidiaries. This report will outline economic development activities of both Appalachian Power and AEP.

Appalachian Power’s economic development focus spans the 36 counties in our southwestern and central Virginia service territory. In addition to our collaboration with the Virginia Economic Development Partnership, the Virginia Tobacco Commission and the Virginia Port Authority, we also support five regional economic development organizations and 36 local economic development organizations.

Please see Appendix A for a detailed map of our local, regional and state economic development partners.