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Economic Development

2012 Corporate Responsibility Report

economic development

 

Success in economic development is the direct result of partnership and teamwork, particularly since recruitment of new and expanding industrial customers spans a globally competitive marketplace. Our efforts to encourage job creation and industrial growth improve the quality of life throughout our service areas. Progress Energy’s experienced economic development professionals help to advance business growth in our service territory by providing energy and marketing expertise to local and state partners, existing businesses and prospective customers.

Progress Energy has a long history of collaborating with communities in the Carolinas and Florida to support economic growth. In fact, Progress Energy’s economic development team worked with other agencies and organizations to attract more than 5,000 jobs and more than $1.2 billion in investments to the company’s service areas in the Carolinas and Florida in 2011.

2011 Highlights

In 2011, Progress Energy worked closely with our economic development partners in Orange County, the Metro-Orlando Economic Development Commission and Enterprise Florida on the recruitment of Prime Therapeutics, a specialty pharmacy benefits-management firm. The company is investing $18.1 million and will build a 77,000-square-foot facility in Orange County.

Prime Therapeutics will also create 213 high-wage jobs, which will help advance the growth of the life sciences industry in Central Florida. Orange County officials credit Progress Energy’s committed service and strong support as key factors in the company’s decision to locate in Florida over competing sites in Missouri and Pennsylvania. As a regional partner, Progress Energy was also instrumental in developing the Tampa Bay Regional Business Plan. The company’s Florida President and CEO, Vincent Dolan, led this strategic initiative and currently serves as chair of the Tampa Bay Partnership’s board.



“Progress Energy has always had strong involvement in economic development. It is reflected in their work to help us build a regional business plan for the eight counties we serve, and it is a very powerful tool,” says Stuart Rogel, president and chief executive officer of the Tampa Bay Partnership in Florida.