AEP Ohio, a unit of American Electric Power, awarded a Rate Stabilization Program, Retention and Expansion Grant to International Paper. The grant helped secure a 250,000 square foot expansion of the Kenton plant, doubling its current manufacturing space at this location.
The facility is part of International Paper’s Foodservice business, which manufactures fiber-based hot and cold cups, food buckets and containers, plates and lids for the foodservice industry. The expansion is expected to create 125 new jobs and retain 532 jobs at the Kenton plant.
The AEP Ohio Economic Development Rate Stabilization Plan 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. Funds are designated to assist with the cost of utility infrastructure and are based on criteria, including: jobs, investment, demonstration of need, and assistance from additional funding sources.
“AEP Ohio is proud to be a strong partner to the communities that we serve,” said Tim Wells, manager, Economic and Business Development. “By working with businesses and chambers in our local communities to attract new jobs and maintain existing jobs, we are able to help our communities flourish. International Paper is a cornerstone of the business community in Hardin County whose continued investment in the community highlights the competitive characteristics of Kenton, Hardin County and the State of Ohio.”
“International Paper is expanding to support the organic growth of our customers and the increased demand in the marketplace for our products,” said Tracy Pearson, vice president and general manager, IP Foodservice. “We are pleased to work with AEP Ohio so that we can continue to expand and offer more jobs to the people of Kenton and surrounding areas.”
AEP Ohio offers a variety of grants for new and expanding businesses. For more information, visit AEPOhio.com.
