COLUMBUS, Ohio, 3 September 2024 /PRNewswire/ — American Electric Power (NASDAQ:AEP) was Site selection Magazine.

Site selection annually evaluates utilities’ commitment and support of business project investments and job creation on a cumulative and per capita basis. AEP has earned a spot on the list 12 times in the last 13 years.

“2023 was a record year for economic development at AEP, and it is an honor to be Site selection for our team’s efforts to bring growth to the communities we serve,” said Tim WellsVice President of Sales, Economic and Business Development. “AEP supported and advanced 92 new economic development projects throughout our service territory last year. This type of success does not happen overnight and requires collaboration and teamwork with numerous internal AEP teams as well as our customers and partners at the federal, state and local levels.”

In 2023, AEP’s economic and business development efforts have helped attract projects that ultimately result in more than 35 billion US dollars of capital investment and the creation of over 10,400 new direct jobs in the company’s service area. AEP’s economic and business development highlights in 2023 include:

• Nucors 2.7 billion US dollars Investment to build a state-of-the-art production plant for steel sheets in Mason County, West Virginia is underway. Appalachian Power will supply Nucor through 2025, making Nucor Appalachian Power’s largest single customer. More than 800 jobs will be created at the site.
• SLB plans to convert 1 million square meters of the former General Motors assembly plant into Shreveport, Louisiana to its Shreveport Technology Center to build data center racks. SLBs 18.5 million US dollars The investment is expected to create almost 600 new jobs.
• TekniPlex builds a 45 million US dollars Establishment in Van Wert, Ohio to manufacture egg cartons. The site was selected based on its need for electricity and certification for food and beverage production. The project will create 100 jobs in AEP Ohio’s service area.
• More than 250 people benefited from a self-paced e-learning course called “Energizing Economic Development,” designed to help community leaders learn how to successfully drive economic development in their community.

About AEP

At American Electric Power, based in Columbus, OhioWe know our customers and communities depend on safe, reliable and affordable energy. Our nearly 16,000 employees operate and maintain more than 40,000 miles of transmission lines, the nation’s largest electric transmission system, and more than 225,000 miles of distribution lines to deliver power to 5.6 million customers in 11 states. AEP is also one of the nation’s largest electricity producers with nearly 29,000 megawatts of diversified generating capacity, including approximately 6,000 megawatts of renewable energy. AEP invests 43 billion US dollars over the next five years to make the power grid cleaner and more reliable. We are on track to achieve an 80% reduction in carbon dioxide emissions by 2030 compared to 2005 levels and have set a goal of achieving net zero by 2045. AEP is consistently recognized for its focus on sustainability, community engagement and inclusion. The AEP 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 Oklahomaand Southwestern Electric Power Company (in Arkansas, LouisianaEast Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative and competitive energy solutions nationwide. For more information, visit aep.com

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