Plainfield, Ind. - Duke Energy is awarding $20,000 to the Vigo County Redevelopment Commission to underwrite a feasibility study on the former Pfizer manufacturing campus in Terre Haute.
In September 2009, the redevelopment commission purchased an 845-acre land parcel with buildings from Pfizer. In December 2010, the commission purchased an additional 90 acres from Pfizer. The entire area is now called the Vigo County Industrial Park II.
The feasibility study, which is expected to take about six months, is another step in the process to market the former manufacturing facility to attract new businesses and jobs to the Terre Haute area.
"Duke Energy is eager to do all it can to promote economic growth and development in the areas it serves," said Rick Burger, Duke Energy Indiana's west area manager. "This study will build on the survey work that was done last year, for which Duke Energy also helped pay."
"Once we have this feasibility study in hand, we'll be in a better position to respond to prospective businesses that are interested in locating inside the industrial park," said Steve Witt, president of the Terre Haute Economic Development Corporation. "The study will clearly demonstrate that our local officials have given serious thought to how best to develop the business opportunities that come our way."
This study will document existing infrastructure such as sizes and capacities of various utility lines and roadways, as well the logical routes for extending those resources to other areas of the industrial park. The Duke Energy Indiana Community Growth Partnership Grant Program is aimed at generating new jobs and capital investment in Indiana. Since 2008, 27 grant recipients - all local or regional economic development organizations - have received more than $328,000 toward economic development projects.
Duke Energy requires grant recipients to demonstrate that they have leveraged other resources or partners in addition to Duke Energy for their projects. The Community Growth Partnership Grant Program is part of the Duke Energy's economic development strategy to assist communities in becoming more competitive.
Duke Energy Indiana's operations provide approximately 6,800 megawatts of electricity capacity to approximately 780,000 customers, making it the state's largest electric supplier. Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com. For information about Duke Energy in its Indiana communities, visit http://news.duke-energy.com/2010/11/17/duke-energy-indiana-helping-communities-thrive/
Contacts:
Duke Energy
Lew Middleton
Phone: 317-838-1505
Cell: 317-474-7448
