Kentucky’s Touchstone Energy Cooperatives Recognized as Top 20 Utilities in Economic Development
Data is Power is proud to announce that Kentucky’s Touchstone Energy Cooperatives have been named in the top 20 U.S. utilities in economic development by Site Selection magazine. This recognition highlights the efforts of all 17 electric cooperatives in Kentucky, working alongside local, state, and federal officials to bring jobs and investment to rural communities.
In 2021, the Touchstone Energy Cooperatives facilitated business recruitments and expansions that resulted in 2,600 job announcements and $2.3 billion in projected investment in the communities they serve. This achievement is particularly gratifying because, as member-owned, not-for-profit organizations headquartered in Kentucky and owned by the residents they serve, the success of the cooperatives truly benefits the people and communities of Kentucky, according to Rodney Hitch, Director of Economic Development.
One of the reasons for the recognition is the innovative tools and programs that the Touchstone Energy Cooperatives have deployed to support economic development in Kentucky. For example, they have utilized PowerVision, a cutting-edge drone technology, to capture detailed mapping and infrastructure data for rural industrial parks, as well as produce videos that can be shared instantly with prospects anywhere in the world. These tools have helped market business sites in Kentucky communities and attract new investment.
In addition, the Touchstone Energy Cooperatives have developed innovative programs to help businesses access renewable energy sources to meet corporate sustainability goals. This demonstrates their commitment to sustainability and supporting environmentally responsible practices in economic development efforts.
Site Selection magazine considers various factors in determining the top utilities in economic development, including job creation, new capital investment announcements, website tools and data, innovative programs and incentives for businesses, and the utility’s own job-creating infrastructure and facility investment trends. The Touchstone Energy Cooperatives have excelled in these areas, earning them a spot among the top 20 utilities in economic development out of around 3,300 electric utilities across the country, including around 900 cooperatives.
Managing Editor Adam Bruns of Site Selection magazine stated, “Like the power they generate, their robust economic development teams and programs are well distributed throughout the country. And just as their generation and distribution portfolios turn toward renewables and smart technologies, these utilities’ economic developers are helping their communities pursue sustainable growth by cultivating the flow of smart capital and talent.”
The recognition of Kentucky’s Touchstone Energy Cooperatives as one of the top 20 utilities in economic development is a testament to their dedication to fostering economic growth, creating jobs, and supporting sustainability in the communities they serve. Data is Power congratulates the Touchstone Energy Cooperatives on this achievement and looks forward to their continued success in driving economic development in Kentucky.