PECO among top 10 for economic development

PHILADELPHIA » PECO has been recognized for its efforts in economic development. The company has been named to Site Selection magazine to its annual list of Top 10 Utilities in Economic Development for 2017.

It is the eighth time the publication has recognized PECO, this time citing more than 50 projects involving new construction and renovations in PECO’s southeastern Pennsylvania service territory in 2016.

“We continue to strengthen our partnerships with our local, state, and regional economic development stakeholders, such as the Pennsylvania Governor’s Action Team and Select Greater Philadelphia,” Liz Murphy, PECO senior vice president of regulatory and external affairs said in a release. “This recognition highlights our dedicated work to stimulate investment, growth, and job creation throughout southeastern Pennsylvania.” Making the list is “very exciting,” according to Kristina Pappas, PECO senior communications specialist in an emailed response to Digital First Media — and recognizes PECO’s ongoing support for growth and job creation in Southeastern Pennsylvania. It also highlights the collaborative effort of economic and business development partners who help promote the region.

“Being recognized among the Top 10 Utilities for Economic Development emphasizes that our service territory is open for business, that our energy infrastructure can meet demands, both now and in the future,” she said.

Pappas added that system reliability is key, but responsiveness in addressing utility related questions for new business prospects and existing customers who are considering expanding is also important, and a part of PECO’s approach to economic development.

“This recognition highlights our dedicated work to stimulate investment, growth, and job creation throughout southeastern Pennsylvania.” — Liz Murphy, PECO senior vice president, regulatory and external affairs

At the center of PECO’s strategy is the company’s internal “rapid response” program, a company-wide, internal economic development strategy that alerts key personnel in various departments of significant economic development opportunities. The program formalizes a rapid response to questions about energy capacity, availability and cost.

PECO’s staff of five fulltime economic development

employees provide outreach, coordinate rapid response, track large development projects, deliver account management services for key developers, and advance utility related innovations.

The company’s economic development department addresses the utility components of Request for Proposals issued by state, regional and county partners on behalf of new business prospects. In addition, the company works with area commercial and industrial real estate professionals in their efforts to sell or lease sites

that support economic growth in the region.

Pappas added that while every project is different and has its own timeline, planning and collaboration often begins years in advance of the project’s official launch.

Some of the projects PECO was involved with in 2016 include:

• The September 2016 completion of a 300,000-square-foot Federal Express warehouse distribution facility in Conshohocken.

• Kennett Square Specialties, a mushroom grower that is expanding

its operations by more than 150,000-square-feet in Kennett Square.

• The redevelopment of a former factory in Ambler. Converting the 26-acre, 14-building campus into Ambler Yards began in the summer of 2016, and has already welcomed its first tenants.

PECO also offers its customers a wide range of energy management and incentive programs. PECO Smart Ideas is a suite of energy efficiency programs designed to reduce energy consumption, increase energy savings and contribute to a more sustainable

environment. Business and residential customers have saved more than $500 million since PECO Smart Ideas was launched in 2009.

According to the company, the savings generated by the energy management and incentive programs increase disposable income and investment opportunities, further impacting economic growth.

For more information visit PECO.com.