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.
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.
None is available.
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.
The recommended funding assistance will be based on the following categories:
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.
Communities and industries within the AEP Ohio service territory are eligible to apply for this grant.
Applications are accepted throughout the year.
Award amounts vary based on the aforementioned categories.