Fort Wayne-based Indiana Michigan Power has awarded $215,000 in economic development grants to seven organizations in its service territory. The grants were given to economic development organizations serving St. Joseph, Adams, Noble, Delaware, Allen and Elkhart counties, as well as Berrien County in Michigan.
The utility says the funds will support efforts to create shovel-ready industrial properties and develop speculative industrial buildings. According to I&M, the investments will help increase the local tax base, grow opportunities for job and wage creation and increase regional gross domestic product.
“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.”
Grants and recipient organizations are listed below:
- Berrien County, Michigan – $29,500
- St. Joseph County – $50,000
- Elkhart County – $25,000
- Adams County – $50,000
- Noble County – $25,000
- Allen County – $25,000
- Delaware County – $10,000
“Getting the land in a shovel-ready condition is critical for our communities to be able to market the land for new development,” said Shelley Klug, manager of Economic and Business Development with American Electric Power said. “Businesses are focused on speed to market so mitigating risks in advance results in cost savings for the company and a positive customer experience.”
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