1. Duke Energy's program created 5,400 jobs, $2 billion investment in Ohio/Kentucky. 2. Three new sites selected for the 2025 Site Readiness Program. 3. Duke Energy aids companies to enhance site selection for development. 4. The program has evaluated 42 sites since 2010 for industrial development. 5. Duke consistently recognized for economic development contributions over 21 years.
The investment and job creation signal positive growth prospects for DUK. Historically, similar initiatives have led to stock appreciation in utilities.
The job creation and economic development directly enhance Duke's market position and financial outlook.
The economic benefits will accumulate over time, strengthening local economies and increasing demand for energy.
CINCINNATI, Sept. 24, 2025 /PRNewswire/ -- Duke Energy selected three properties in Southwest Ohio and Northern Kentucky for inclusion in its 2025 Site Readiness Program, which prepares high-potential business and industrial sites for economic development investments and markets them nationwide to companies looking to start, expand or relocate their operations.
Bringing investment and jobs to Ohio and Kentucky: Since 2010, Duke Energy's Site Readiness Program has evaluated 42 sites in Ohio and Kentucky. Twenty companies have selected and committed to growing on sites that have been through the program.
Those companies are bringing over $2 billion capital investments and 5,400 new jobs for Ohio and Kentucky. Examples of companies include Coca-Cola, Carvana, Shape Corp. and Niagara Bottling.
About the program: The Duke Energy Site Readiness Program sparks economic growth by helping communities understand what steps to take in order to make their sites more competitive. In turn, this results in new jobs and a new tax base.
Under the program, Duke Energy works with consultant Site Selection Group and local engineering firm Bayer Becker. It also partners closely with REDI Cincinnati and BE NKY Growth Partnership, as well as with local community governments and other utilities.
What they're saying
Amy Spiller, president, Duke Energy Ohio and Kentucky: "Economic development is vital to the future growth and prosperity of our region. Our Site Readiness Program is one example of the proactive economic development initiatives that Duke Energy pursues to help spark investment in the communities we serve. We appreciate our collaboration with local partners and developers as we work to bring more jobs to the region and make Greater Cincinnati a place in which people want to work and live."
Kimm Lauterbach, president and CEO of REDI Cincinnati: "Duke Energy's Site Readiness Program not only speeds up economic development opportunities but also ensures that our communities are equipped to compete with sites that are ready to be utilized. We appreciate Duke Energy's ongoing investment and leadership in enhancing the economy of the Cincinnati region."
Duke Energy has selected three properties in Ohio and Kentucky for inclusion in its 2025 Site Readiness Program to enhance these sites for business and industrial development:
1. Frick Family Farms in Monroe, Ohio (Butler County)
2. Union Ren Farms in Middletown, Ohio (Warren County)
3. Commonwealth Commerce Center in Northern Kentucky (Pendleton County)
For 21 consecutive years, Duke Energy's economic development efforts have been recognized by Site Selection magazine in the publication's annual list of "Top Utilities in Economic Development." In 2024 alone, the company helped recruit $548 million in new capital investment and over 1,000 jobs across Ohio and Kentucky.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky, a subsidiary of Duke Energy, provides electric service to 910,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to 560,000 customers in a 2,650-square-mile service area, in Ohio and Kentucky.
Duke Energy
Duke Energy (NYSE:DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.
Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage.
More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.
Contact: Matt Martin
24-Hour: 800.559.3853
X: @DukeEnergyOH_KY
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SOURCE Duke Energy