IMPA Announces Economic Development Incentive
Published on 3/29/2017
(CARMEL, IN) – The Indiana Municipal Power Agency (IMPA) is pleased to announce a new economic development incentive for existing and prospective electric customers. Designed to promote growth and development in IMPA member communities, the new Economic Development Rider provides communities and local economic development officials with a valuable tool to attract new customers or help existing businesses and industries grow. The program can save companies that meet the incentive criteria a percentage off of their electric bill for a five year period.
“IMPA is continually looking for opportunities to assist our member communities with their economic development efforts,” said Raj Rao, IMPA’s President and CEO. “Electric costs can be a determining factor for many companies when selecting where to improve existing facilities or establish new operations. Combined with IMPA’s already competitive and stable wholesale rates, this new incentive provides our members with an additional advantage in attracting new load, expanding current facilities, and marketing their communities for prospective economic development projects.”
Businesses seeking to utilize the new economic development incentive must meet certain criteria, including:
· Adding a minimum of 1 megawatt at one premises
· Investing at least $1 million at that premises
The economic development incentive is available to all of IMPA’s 61 communities in Indiana and Ohio. Individual municipal utilities will need to take certain steps to ensure the incentive is properly enacted in their community through the passage of a local tariff or rider.
More information regarding IMPA’s new economic development incentive and how it can help Indiana businesses and industries is available by contacting Bryan Brackemyre, Director of Marketing and Economic Development for IMPA, at (317) 573-9955 or firstname.lastname@example.org
The Indiana Municipal Power Agency is the not-for-profit wholesale power provider to 60 cities and towns across Indiana and one Ohio community who own and operate the municipal electric distribution systems in their communities. IMPA member communities deliver electric service to approximately 330,000 individuals throughout the state. For more information, visit www.IMPA.com.