PLAINFIELD, Ind. – Companies now have even more reasons to locate in Indiana, or expand their existing businesses, thanks to Duke Energy Indiana’s improved Economic Development Incentive.
The program can save companies as much as 10 to 30 percent per year for five years on their electric bill, provided certain criteria are met.
Indiana utility regulators approved the new incentive to help entice new and existing businesses to expand, helping create jobs and economic development activity within the company’s 69-county service area.
“We’re excited to offer these incentives to our current and prospective customers,” said Erin Schneider, Duke Energy Indiana director of economic development. “Electricity costs are a major factor that companies take into consideration when deciding whether to locate or expand their operations here.”
Criteria for qualifying for these new incentives include, but are not limited to:
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 Economic Development Incentive is even more flexible in a brownfield redevelopment area as it can be used for any industry and does not require state or local incentives to qualify.
More information is available by navigating to www.duke-energy.com/partner-with-us/economic-development/Indiana.
Duke Energy Indiana
Duke Energy Indiana’s operations provide about 6,800 megawatts of owned electric capacity to approximately 810,000 customers in a 23,000-square-mile service area, making it the state’s largest electric supplier.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
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