Kentucky Power awards $300,000 grant to bring jobs to region
HAZARD, Ky., November 4, 2019 – The Perry County Fiscal Court has received a $300,000 economic development grant from Kentucky Power to support bringing Dajcor Aluminum and hundreds of jobs to the region. The grant is being funded through the Kentucky Power Economic Development Growth Grants (K-PEGG) program.
Perry County Judge Executive Scott Alexander and county magistrates received the grant Saturday before a groundbreaking ceremony for Dajcor’s manufacturing plant near Hazard. The facility is expected to employ up to 265 workers and is Canada-based Dajcor’s first U.S. operation.
The Kentucky Power grant will assist Perry County with the purchase of the former American Woodmark facility in the Coalfields Industrial Park and help fund needed improvements before Dajcor can move into the building. Perry County’s investment is $3.75 million, including Kentucky Power’s grant and other funds. The company said it plans to invest $19.6 million in the project.
“The KPEGG program supports our communities with projects like Dajcor as we work together to revitalize eastern Kentucky,” said Kentucky Power President Brett Mattison. “We welcome the opportunity to partner with local, state and regional leaders on these and future projects and will continue working to bring investment and jobs to eastern Kentucky.”
The K-PEGG program is funded through the Kentucky Economic Development Surcharge. For every $1 collected monthly from non-residential customers, company stockholders match the customer contributions dollar for dollar to generate nearly $800,000 annually for investment at the local and regional levels. The program is available in all 20 counties served by Kentucky Power.
Grant applications are reviewed by a committee comprised of employees and delegates of the Kentucky Association of Economic Development and the Kentucky Economic Development Cabinet. More information is posted at https://kentuckypower.com/development/
Kentucky Power, with headquarters in Ashland, provides electric service to about 165,000 customers in 20 eastern Kentucky counties. It is part of the American Electric Power system, providing power to nearly 5.4 million regulated customers in 11 states.