Duke Energy Unveils Economic Development Incentives

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The utility's Indiana headquarters is in Plainfield. The utility's Indiana headquarters is in Plainfield.
PLAINFIELD -

Plainfield-based Duke Energy Indiana has unveiled new incentives it says will help drive economic development throughout the state. The utility has announced an improved Economic Development Incentive program, which will allow eligible companies to save 10 to 30 percent on their electric bills annually.

Duke Energy says the incentive has been approved by state utility regulators. The utility hopes it will be used to help entice new businesses to locate and existing businesses to expand within Duke's 69-county coverage area.

"We’re excited to offer these incentives to our current and prospective customers," said Erin Schneider, director of economic development for Duke Energy Indiana. "Electricity costs are a major factor that companies take into consideration when deciding whether to locate or expand their operations here."

Companies must meet certain criteria to qualify for the new incentives, including: 

  • Adding a minimum of 500 kilowatts at one premise, with at least a 35 percent load factor
  • Adding a minimum of 10 full-time employees or make a capital investment of at least $1 million at one premise
  • Receive significant state and/or local economic development incentives

The utility says companies that are making an investment in brownfield area will not require state or local incentives to qualify. You can learn more about Duke Energy Indiana's economic development efforts by clicking here.

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