Kentucky Power grants to SOAR, HPCEDA support economic development plans

Kentucky Power grants to SOAR, HPCEDA support economic development plans in several eastern Kentucky counties

ASHLAND, Ky., October 21, 2022 – Kentucky Power recently presented two non-profit organizations grant awards for their plans to bolster economic development in several eastern Kentucky counties. Hazard-Perry County Economic Development Alliance (HPCEDA) was awarded $25,000 and Shaping Our Appalachian Region, Inc. (SOAR), received $100,000. The grants are funded through the Kentucky Power Economic Growth Grant (KPEGG) program.

SOAR, based in Pikeville, covers the 54 Appalachian counties in eastern Kentucky where they provide regional, community and entrepreneurial program support. The grant will fund events planned to increase eastern Kentucky culture and accomplishment awareness; and to provide funds needed to establish a remote worker recruitment program designed to recruit 10,000 remote workers to Eastern Kentucky over the next 10 years.

The grant awarded to HPCEDA, which operates under the One East Kentucky umbrella, will provide funds needed for organizational support to continue regional efforts in the recruitment of new industry, job creation and the retention of existing businesses.

“We believe in the value these organizations bring to our region and we’re proud to support them with these grants,” said Amanda Clark, Kentucky Power external affairs manager. “The success of each program and project funded through these grants is really a success for all of us in eastern Kentucky.”

The KPEGG program assists in the funding of economic development programs that promote the creation and retention of manufacturing and/or industrial investment and jobs. The program is a partnership between Kentucky Power and its customers. Commercial and industrial customers contribute $1 monthly; and company stockholders match the customer contributions to generate nearly $800,000 annually for investment at the local and regional levels. The program is available in all 20 counties served by Kentucky Power.

Grant applications are reviewed by a committee comprised of employees and delegates of the Kentucky Association of Economic Development and the Kentucky Economic Development Cabinet. More information is available at kentuckypower.com/development.