Duke Energy Unveils Economic Development Incentives

Posted: Updated:
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.

  • Perspectives

    • Sign Up For 'my Social Security' - It's a No-Brainer!

      Your current age or status doesn't matter. If you've earned a paycheck at some time in your life, keeping tabs on what the Social Security Administration shows you've earned just makes good sense. But does the thought of waiting in line at the Social Security office make you cringe? Then don't do it! Now there's another option...

    More

Events



  • Most Popular Stories

    • Sign Up For 'my Social Security' - It's a No-Brainer!

      Your current age or status doesn't matter. If you've earned a paycheck at some time in your life, keeping tabs on what the Social Security Administration shows you've earned just makes good sense. But does the thought of waiting in line at the Social Security office make you cringe? Then don't do it! Now there's another option...

    • Opioid Withdrawal Treatment Lands FDA Clearance

      The U.S. Food and Drug Administration has given clearance for a medical device developed in Indiana to help treat symptoms of opioid withdrawal. The device, known as the NSS-2 BRIDGE, was created by Innovative Health Solutions Inc. in Versailles.

    • Coal Loading Facility Planned For Princeton

      A subsidiary of Denver-based Hallador Energy Co. (Nasdaq: HNRG) has announced plans to construct a new truck-to-rail coal loading facility near Princeton. Sunrise Coal LLC in Terre Haute says the facility, known as the Princeton Loop, is expected to be complete in the spring of 2018. 

    • Blackhawks, Bruins to Play at Notre Dame Stadium

      Notre Dame Stadium will be the site of a high-profile National Hockey League game next season. The league has announced the University of Notre Dame will host the 2019 Bridgestone NHL Winter Classic featuring the Chicago Blackhawks and Boston Bruins. Commissioner Gary Bettman expects the game to be the "largest live audience ever to witness a game by either of these teams." Notre Dame Stadium can hold some 80,000 fans, providing "an ideal setting..."

    • Hoosier Businesses Among 'Most Respected'

      Three Indiana companies are listed among their respective industries on an annual list for corporate reputation. The World's Most Respected Companies from FORTUNE are determined by nine factors that are voted on by executives from 680 companies in 28 countries. None of the businesses based in Indiana made FORTUNE's Top 50 "All-Star" list.