Press release
Indiana Michigan Power is "Powering the Next Opportunity" by Giving $215,000 in Economic Development Grants to Local Communities in its Service Territory
Organizations within seven counties in both Indiana and Michigan to receive grant money for industrial site and building development FORT WAYNE, Ind., Dec.
About this update from American Electric Power Company, Inc.
[{"type":"text","content":"Organizations within seven counties in both Indiana and Michigan to receive grant money for industrial site and building development\n\n\nFORT WAYNE, Ind., Dec. 16, 2021 /PRNewswire/ -- Indiana Michigan Power (I&M), an American Electric Power (Nasdaq: AEP) company, is dedicated to improving the quality of life and growing the communities it proudly serves. That's why I&M recently provided a total of $215,000 in economic development grants to seven organizations in its service territory – six in Indiana and one in Southwest Michigan.\nThe grants were given to economic development organizations serving St. Joseph, Adams, Noble, Delaware, Allen and Elkhart Counties in Indiana and Berrien County in Michigan.\n\"I&M is committed to helping our local communities achieve their growth objectives and improve areas prime for new business,\" said Ashley Savieo, director of Economic and Business Development for American Electric Power. \"Our goal is to help create strong and diverse local economies that will benefit the communities where we our customers live, shop, work, and attend school.\"\nThe funds will support development organizations' ongoing efforts to create shovel-ready industrial properties and develop speculative industrial buildings. These are critical assets for attracting new or growing employers as every step taken by development organizations before a company chooses to invest in a location helps make the site more marketable and mitigate risks to the company looking to invest. \nInvesting in this work has the benefits of increasing the local tax base, growing opportunities for job and wage creation and increasing regional gross domestic product.\nThere are numerous hurtles in making sure commercial and industrial sites have access to the needed resources, and by being involved in the process I&M can make sure potential businesses are able to utilize infrastructure already put into place.\nBelow is a breakdown of the $215,000 in grants by county and recipient organization: \nMichiana\nBerrien County, Mich. ($29,500) Cornerstone Alliance of Berrien County – Cornerstone Industrial Park spec building I&M provided a grant in order to clear part of the property. Cornerstone Alliance of Berrien County – Lemon Creek Site I&M provided a grant for the organization to prepare conceptual plans for the property to market to a larger a...