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4-Traders Homepage  >  Equities  >  Nyse  >  American Electric Power Company Inc    AEP

Delayed Quote. Delayed  - 05/04 09:10:07 pm
65.67 USD   +1.81%
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American Electric Power : AEP Quality Site in Botetourt County, VA Sold to Italian Automotive Manufacturer ELDOR Corporation

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05/03/2016 | 01:05pm CEST

Botetourt County, Virginia (PRWEB) May 03, 2016

American Electric Power (AEP)'s 34-acre certified Quality Site in Botetourt County, Virginia is off of the market and slated for development by Italian automotive manufacturer ELDOR Corporation. ELDOR purchased a total of 53 acres in the Botetourt County's Center at Greenfield industrial park with an investment of $75 million and will develop its first U.S. production plant on the site, creating approximately 350 new jobs.

The Botetourt industrial site is located in a business-oriented area with Port of Virginia access, logistics and infrastructure. Botetourt County is home to top-class universities and a great community college, as well as booming advanced manufacturing and automotive sectors.

"We found a community of genuine and collaborative people, focused on supporting investment in a practical way and with great commitment. The community has welcomed us with a professional attitude, but also with respect and friendship," said Pasquale Forte, president and CEO of ELDOR Corporation as quoted in Area Development magazine.

Nationally recognized site consultant firm McCallum Sweeney Consulting conducted the third-party Quality Site certification for AEP. The consulting firm evaluates properties, determines documentation that must be completed, and then certifies the sites once they have met all of the program requirements. The certification process, which includes obtaining engineering plans, environmental studies, and researching site characteristics, can take up to two years and ultimately proves the industrial site is ready for immediate development.

"We know what it takes for a business to invest in a new location, and our Quality Sites Program is designed to simplify that process," said John Smolak, Director of Economic and Business Development, Appalachian Power Company. "The McCallum Sweeney site certification clearly raised the profile of Botetourt County, as evidenced by ELDOR Corporation's commitment. All of us on the AEP Economic & Business Development team are pleased to help facilitate such a mutually beneficial partnership for ELDOR, Botetourt County and the entire region."

For more information about AEP Quality Sites located throughout the company's 11-state service territory, visit aepqualitysites.com.

About AEP Economic & Business Development
The AEP Economic & Business Development team (AEPED) is a division of Columbus, Ohio-based American Electric Power, one of the largest electric utilities in the United States. AEPED works with local communities and state officials to attract and retain businesses and jobs. AEPED leverages the company's 11-state geographic advantage, along with proven experience, relationships and practical know-how, to provide comprehensive location advisory services for companies.

For more information about AEP Economic & Business Development, visit aeped.com or contact Mark James at mjjames(at)aep(dot)com.

Read the full story at http://www.prweb.com/releases/2016/04/prweb13376358.htm

(c) 2016 PRWEB.COM Newswire, source Press Releases

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