Imagine starting a business with no power for the machinery or lights for the building. Imagine starting a business with no water for production, restrooms, or food service. The business doesn’t happen, right?
Power and water may arguably be the two most important pieces of any business and it’s key that the utilities are at the table for economic development.
Louisville Water and LG&E and KU Energy were literally on the table at the Women in Economic Development Forum. Sponsored by Area Development, this annual event brings together more than 150 women from across the United States who work in economic development and another 20+ women who work on the development side, helping businesses locate in communities across the United States.
LG&E-KU and Louisville Water were sponsors of this event, ensuring both brands were represented on the tables and throughout the forum. As Kentucky’s largest energy and water providers, LG&E-KU and Louisville Water have centuries of experience in economic development. And, judging by comments at the conference, power and water are in high demand.
“Today, fewer sites have the reliable infrastructure available for mega-site projects,” explained one site selector. “The biggest issue for new business development right now is utilities.” Data centers, advanced manufacturing, and food & beverage sectors are driving the demand. Kentucky is one of several states highlighted for making a commitment to invest in site readiness which often includes utilities.
While water is a critical piece, water utilities are not often part of events like this. In fact, Louisville Water was the only water provider at the forum (compared to 12 power utilities). Forum moderator Amy Gerber with Cushman & Wakefield took note of the uniqueness. “If you haven’t tasted Louisville Water, it’s fantastic,” Gerber told the attendees. LG&E and Louisville Water frequently work together to highlight their advantages for business attraction. “Personal connections matter,” said Kelley Dearing Smith, Louisville Water’s Vice President of Communications and Marketing.
“Louisville Water has incredible quality, an abundant supply, and some of the best rates for businesses. You can see those numbers on paper, but building relationships makes a difference.”
Connecting with other communities and site selectors only improves the economic development efforts in Kentucky. “At events like this one by Area Development, we market communities’ assets and our utility capabilities, directly with key influencers”, said Roxann Fry, Manager of Economic Development for LG&E-KU. “These consultants know us, trust our expertise and therefore can instill confidence with their clients who are making touch choices about where to grow their businesses.”
Access to reliable electricity has always been important and in today’s market, the availability of larger quantities of power on a strong grid and a reliable supply of water are critical. LG&E and Louisville Water’s advantages make a perfect “mix” for success.