Committed To The Economic Vitality Of Our Communities
In 2014, the Duke Energy Economic Development Team saw real evidence of an improving national economy with an increase in new jobs and investments across our entire service territory. Working with state and local partners, we helped attract 85 new and expanding businesses and industries for almost $3.6 billion in capital investments. Over 11,400 new jobs were created across our six-state footprint.
Advanced manufacturing continues to be an important contributor to the economy in many of our states, particularly in Indiana and the Carolinas. But we pursued a diverse mix of other project opportunities, including automotive, aerospace, textile and data centers.
For more than 100 years, Duke Energy has invested in responsible growth and community development, earning a national reputation for its work. The September 2014 edition of Site Selection magazine again named Duke Energy to its annual list of Top Utilities in Economic Development for 2014. The company has been on the list more than a dozen times.
A cornerstone of our economic development efforts is the Site Readiness Program. The program assists local communities by bringing in a nationally recognized consultant to evaluate selected sites and provide recommendations for improvements to attract future industries. In 2014, 22 properties were evaluated to prepare them for potential industrial development. Since the program’s inception in 2005, 16 Site Readiness properties have won large industrial projects.
Breakdown By States
North Carolina
Duke Energy’s North Carolina Economic Development Team continued its string of successful recruiting years by helping to bring in about $1.1 billion in capital investments and more than 4,100 jobs. Gildan Textiles, Clearwater Paper and TransCarolina Products are notable examples of new investment brought to the state.
The company also helped lead the transition of economic development recruiting efforts from the North Carolina Department of Commerce to the Economic Development Partnership of North Carolina, a new public-private partnership. The partnership will oversee the state’s efforts in economic development, international trade, tourism, film and sports development.
South Carolina
South Carolina is leading the Southeast in manufacturing job growth spurred on by Duke Energy’s business recruiting efforts. In 2014, Duke Energy was involved in projects that produced about $1.5 billion in capital investments and over 2,000 new jobs. New businesses brought to the state include Toray Industries, Trelleborg, Precorp and Apex Tool.
Ohio/Kentucky
After several years of little private investment in downtown centers, new private development in Duke Energy’s urban cores was the lead story in 2014. The Duke Energy Economic Development Team worked collaboratively with the Duke Energy Foundation to find real estate development and redevelopment investment opportunities in urban neighborhoods. Major successes include the General Motors office complex and Mercy Health.
Industrial activity also continued at an active pace as Duke Energy helped increase capital investment by $173 million, bringing approximately 1,940 jobs to Ohio and Kentucky. Notable investments include UGN, an international auto component manufacturer in Ohio, and the eBay Enterprises regional distribution center in Northern Kentucky.
Florida
The Duke Energy Florida Economic Development Team doubled its size and redefined its focus with a strategy that called for early engagement in efforts to bring new investments to the state. The hard work resulted in 12 new or existing companies selecting Duke Energy’s Florida service territory in 2014, more than doubling last year’s results and surpassing the company’s stretch goals. These projects represent $122 million in capital investments and more than 850 new jobs for Florida.
Indiana
In partnership with economic development officials throughout the state, Duke Energy’s Economic Development Team was instrumental in bringing commitments of approximately $576 million in capital investments and over 2,400 jobs to Indiana. Duke Energy worked with eight existing customers, primarily in the manufacturing sector, as well as nine new companies that now call Indiana home.
