Duke Energy Boosts Economic Development and Job Growth with $275,000 in Urban Redevelopment Grants
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Communities and residents across southwest Ohio and Northern Kentuckycontinue to benefit from Duke Energy's Urban Revitalization program, which announced its 2018 grant recipients today. Since its launch in 2011, the Urban Revitalization program has issued $2.2 million in grants to 65 projects – including $275,000 to nine projects in 2018.
"We continue to back the Urban Revitalization program because, year after year, the catalyst grants have proven to spur additional redevelopment in urban cores across Greater Cincinnati," said Amy Spiller, president of Duke Energy Ohio and Kentucky. "This redevelopment, in turn, improves the lives of our customers and vitality of our communities by creating jobs and new opportunities for residents throughout our region."
Urban Revitalization program traces roots to Great Recession
"Our thinking was that a strong community starts with the urban core," said Spiller. "Without a strong core, your community is weak. And that was the premise around our decision to create the Urban Revitalization program – that everyone in the community can make a difference; that a small investment can serve as a catalyst, to help do a lot for our urban cores. Because building strong communities starts with core economic development investments and jobs for the community."
Projects must have the community's support from elected officials, be included in the community strategic plans and display collaboration among economic or urban development organizations.
The Duke Energy Foundation accepted 2018 Urban Revitalization grant applications in April and May. After the grant application window closed, an advisory team composed of community leaders from both Ohio and Kentucky – all of whom have vested interests in urban redevelopment – perused each application and recommended projects to receive Urban Revitalization grants in 2018.
When reviewing grant applications, the advisory team ranked projects based on their potential to impact blight, job creation, building vacancies, workforce retraining opportunities, business retention or expansion, or other elements of revitalization.
Here are summaries of the projects that were awarded grants today.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The foundation contributes more than $33 million annually in charitable gifts.
The foundation's education focus spans kindergarten to career – particularly science, technology, engineering and math – as well as early childhood literacy and workforce development. The foundation also supports environmental projects and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders with a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
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