September
20, 2006
Contact: Rick Moore, Hoosier Energy (812) 876-0282
Hoosier Energy has been named one of the nation’s top 10 utilities for the second consecutive year by Site Selection magazine for its economic development work with members and state, regional and local officials.
This is the third time overall that Hoosier Energy has been recognized by the publication, which targets expansion planning information to more than 40,000 executives of fast growing firms.
The selection as a Top Utility for 2006 is based on responses to an annual survey measuring new capital investment and jobs created in relation to the area’s population.
During 2005, Hoosier Energy and members assisted Indiana communities in creating nearly 1,700 new jobs and generating almost $400 million in capital investment.
The top-10 utilities were featured in the magazine’s September issue. That issue also included an article on Honda’s selection of a Greensburg site served by Decatur County REMC for an auto assembly plant.
“Our members’ managers and directors are proactive in supporting economic growth in their communities because they understand the importance of job retention and creation and capital investment in funding local public services for their communities,” said Manager of Key Accounts and Economic Development Chuck Martindale. “By diversifying their portfolio of residential, commercial and industrial customers, they make electric service even more affordable for their consumers. Our staff is pleased to support those efforts.”
As Touchstone Energy cooperatives, Hoosier Energy members share a fundamental commitment to the economic health of the central and southern Indiana communities they serve.
Utility support for economic development efforts is vital to local communities, said Mark Arend, Site Selection editor. “These awards recognize those utilities that were able to attract substantial capital investment and new jobs to their service areas last year,” he said. “Utilities play a key role as participants in the economic development efforts of cities, regions and all areas working to improve their local business climate. This year’s top utilities were particularly successful in that endeavor.”
The announcement of Honda’s $550 million automobile plant and its projected 2,000 employees positions Hoosier Energy well again to earn a spot on the Site Selection Top Utilities list. The Honda project figures to spur additional industrial, commercial and residential growth in southern Indiana.
One of the tools essential to the economic development success of Hoosier Energy and its members is a database of sites and facilities, available at www.hoosiersites.com and www.sitesacrossamerica.com.
Hoosier Energy member cooperatives serve 270,000 consumers in 48 central and southern Indiana counties. The power delivery system includes 1,400 miles of high-voltage transmission lines, 15 primary substations and 240 distribution substations and delivery points. Hoosier Energy produces electricity at two coal-fired generating stations and two natural gas-fired peaking plants. In addition, interconnection agreements with neighboring utilities help ensure reliable power delivery.