Site Selection magazine acknowledges EPE’s critical role in boosting regional growth and job creation.
El Paso Electric (EPE) has been honored as a Top Utility in Economic Development for 2024 by Site Selection magazine. This prestigious recognition highlights EPE’s commitment to fostering economic growth in West Texas and Southern New Mexico. Through innovative initiatives and strategic collaborations, EPE continues to play a key role in driving investments and creating jobs that benefit the entire region.
Key achievements contributing to this recognition include:
- Modernizing Infrastructure: EPE has invested heavily in upgrading its electric grid to ensure reliable, future-ready energy solutions for expanding industries.
- Sustainable Energy Leadership: EPE has made significant strides in deploying renewable energy resources, helping to position the region as a leader in sustainability and a magnet for eco-conscious businesses.
- Attracting and Retaining Businesses: EPE’s proactive approach to energy solutions has attracted new businesses while supporting the expansion and retention of existing companies.
- Strengthening Community Ties: EPE works closely with local governments, educational institutions, and economic development organizations to support workforce development and community programs.
Each year, Site Selection evaluates utilities based on their economic development efforts, focusing on project activity, job creation, and capital investment. Despite challenges like rising demand and supply chain disruptions, EPE has continued to drive regional growth with corporate investments totaling $421 million, leading to the creation of 1,834 new jobs.
One standout project was a nearly $300 million investment from EDF Renewables in Santa Teresa, New Mexico. Additionally, major employers like KECH and Sentry Insurance have set up offices in El Paso, contributing hundreds of jobs. Las Cruces has also benefited, with Electronic Caregiver’s new headquarters bringing 770 jobs to the area.
“MVEDA congratulates El Paso Electric for their recognition as one of the Top Utilities in Economic Development! We have witnessed, first-hand, their commitment to growth in the region and they have been critical partners with MVEDA in attracting new industry and jobs to the NMBorderplex region!”
Eric Montgomery, Director of Economic Development & Government Affairs at EPE, highlighted the pivotal role of the New Mexico and Texas Economic Development Funds. These locally controlled funds, fueled by EPE’s $100 million commitment, have been instrumental in closing deals and filling gaps where state incentives fell short.
EPE is also advancing renewable energy efforts, recently launching the largest solar and battery storage facility in New Mexico, with more green energy projects planned to meet the rising demand for carbon-free power. This forward-thinking strategy is setting the stage for continued economic success in the region.
Article Source: 2024 TOP UTILITIES IN ECONOMIC DEVELOPMENT: Power Provision Is Just the Beginning (siteselection.com)
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