#United States #Duke Energy #Cincinnati #Economic Development #Site Readiness

Duke Energy's Commitment to Economic Development

Duke Energy has selected three promising sites in Southwest Ohio and Northern Kentucky as part of its 2025 Site Readiness Program. This strategic initiative aims to bolster local economic growth by preparing potential business and industrial locations for development. Since its inception in 2010, the program has successfully evaluated a total of 42 sites, facilitating over $2 billion in capital investments and generating approximately 5,400 new jobs across the region. This significant impact underscores the importance of Duke Energy’s role in enhancing job opportunities within Ohio and Kentucky.

Understanding the Site Readiness Program

The Site Readiness Program is designed to make local sites more competitive for attracting businesses looking to establish or expand their operations. Through collaboration with Site Selection Group and Bayer Becker, Duke Energy ensures that the selected properties meet crucial criteria to appeal to prospective companies. This includes assessing infrastructure, utilities, accessibility, and other vital components that are necessary for economic development.

In this year's selection, the three chosen properties include:
1. Frick Family Farms in Monroe, Ohio (Butler County)
2. Union Ren Farms in Middletown, Ohio (Warren County)
3. Commonwealth Commerce Center in Northern Kentucky (Pendleton County)

These sites underscore Duke Energy's dedication to equipping communities to attract businesses, therefore contributing to a more robust economy and a new tax base for local governments.

The Economic Impact

Since the initiative started, Duke Energy has been pivotal in positioning Ohio and Kentucky as viable locations for business expansion. Their proactive approach has attracted numerous companies, such as Coca-Cola, Carvana, Shape Corp., and Niagara Bottling, creating thousands of job opportunities and substantial investments in local communities.

Duke Energy's president for Ohio and Kentucky, Amy Spiller, emphasizes that "Economic development is vital to the future growth and prosperity of our region. Our Site Readiness Program is one of the many proactive initiatives we pursue to assist in securing investments in our communities."

Moreover, feedback from local organizations highlights the program's effectiveness. Kimm Lauterbach, president and CEO of REDI Cincinnati, notes that the program accelerates economic opportunities and ensures communities can compete effectively for new businesses. The collaborative efforts between Duke Energy and local partners make a significant difference in the region’s economic landscape.

Continuous Recognition

Duke Energy’s economic development initiatives have not gone unnoticed. For 21 consecutive years, the company has been featured in Site Selection magazine's annual list of "Top Utilities in Economic Development". In 2024 alone, Duke Energy successfully facilitated $548 million in new capital investment and over 1,000 jobs in Ohio and Kentucky.

As Duke Energy continues to expand its efforts in economic development, it aims to create a lasting impact in the region. The subsidiary serves around 910,000 residential and commercial customers and is committed to transforming the energy landscape in the area. Duke Energy is not just an energy provider but a catalyst for economic growth, ensuring the communities it serves thrive in a competitive market.

Conclusion

The Site Readiness Program is a vital component of Duke Energy's strategy for fostering economic growth and stability in Ohio and Kentucky. By enhancing site readiness, the company is generating thousands of jobs and attracting significant investments, ultimately supporting the communities in which it operates. With this initiative, Duke Energy exemplifies how utility companies can align their operational goals with regional economic development needs, showcasing a successful model for future initiatives.