Rate Stabilization Plan Grants
The AEP Ohio Economic Development (ED) Rate Stabilization Plan (RSP) grant program
provides financial assistance to new and existing industries for expansion projects
that create new jobs, retain existing jobs and generate new investment within the
AEP Ohio service territory. These funds are designated to assist with the cost of utility infrastructure.
AEP Ohio ED Managers will partner with local, county and regional ED organizations,
the Ohio Department of Development (ODOD) and directly with industries to identify
eligible projects. AEP Ohio ED Managers will evaluate and recommend the funding
levels for each eligible new or expansion project.
Communities and industries within the AEP Ohio service territory may apply for this
grant. The recommended funding assistance will be based on the following categories:
- Number of new and/or retained jobs
- Level of investment
- Project location
- Use of funds
- Demonstration of support and need
- Level of competition
- Additional funding assistance from other sources
AEP Ohio, the ODOD, and the Public Utilities Commission of Ohio (PUCO) must approve
all eligible projects.
Use Of Funds
These funds can be used to help offset costs of utility infrastructure improvements
to support new location projects and existing company expansions. Examples include
new service facilities, upgrades and replacement of existing facilities and relocation
of existing facilities. AEP Ohio ED Managers will evaluate all requests and approve
the proposed use of grant funds.
AEP Ohio ED Managers will
work with representatives of the local, county and regional ED organizations, the
ODOD Business Development Division and the industries to complete a grant application.
After the AEP Ohio ED Managers have determined the funding levels, the ODOD will
issue a commitment letter including the grant amount recommended for the project.
An acceptance letter will be required from the applicant officially accepting the