Even though it’s only May, 2023 is stacking up to be another record-breaking year for our economic development. In only four months, we have worked with 20 businesses that are expected to bring over 860 megawatts of new capacity onto our system and create over 1,800 jobs.
This early success is outpacing the 31 projects announced in 2022, which resulted in over 4,000 direct jobs and more than 700 megawatts of capacity. The new business creates financial rewards that benefit customers across our entire service territory.
Ranking among the world’s largest economies, Ohio’s rich resources and diverse industries are extremely attractive to prospective customers. That’s why – in collaboration with local, regional and state partners – we continue to accumulate impressive economic development wins, both in new business and several manufacturing and data center customers announcing expansions around the state.
We also maintain a robust pipeline of new opportunities, too. While Central Ohio is seeing unprecedented growth, we have active opportunities across our entire service territory covering a wide range of industries.
Project activity is strong but we’re also focused on ensuring our communities are prepared for growth. Our economic development and customer experience teams regularly strategize with our business partners on-site identification and development. Together, we assess utility infrastructure and other important criteria such as land ownership, transportation options and due-diligence studies.
Helping educate our economic development partners remains another priority. In March, we hosted a training session on electricity pricing for statewide project managers at JobsOhio and provided three scholarships to the Ohio Basic Economic Development Course. This week, we’re also kicking off a four-part webinar series for our statewide partners on Economic Outlook; AEP and AEP Ohio Strategy & Initiatives; Deregulation; Pricing and Renewables; and Working Together.