$682,000 in Duke Energy grants provide economic boost to Florida communities

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Duke Energy and the Duke Energy Foundation are investing $682,000 in grants to support 35 local economic development agencies and businesses in Florida. The grants aim to attract new jobs and investment to the state.

• Grants will support organizations and projects designed to attract businesses and enhance the quality of life for Floridians

ST. PETERSBURG, Fla., July 25, 2023 /PRNewswire/ -- Duke Energy and the Duke Energy Foundation are investing $682,000 in grants to support 35 local economic development agencies and businesses dedicated to bringing new jobs and investment in Florida.

"By investing in the people, places and businesses that strengthen and uplift our communities, we are creating opportunities for years to come," said Melissa Seixas, Duke Energy Florida state president. "Together with our state, regional and local economic development agencies, we will continue to power lives and fuel Florida's growth."

The economic development grants are designed to help local organizations increase awareness of a community or region's economic development strategies and product availability.

This year's funding will allow the University of Florida (UF Innovate|Accelerate) to identify and vet promising biotechnology businesses seeking to scale, with potential to relocate in the city of Gainesville and city of Alachua area.

"UF Innovate and Duke Energy have a shared commitment to the communities we serve," said Karl LaPan, director of UF Innovate|Accelerate. "Duke Energy's support will allow us to provide access to the tools, expertise and resources necessary for high-performance companies to reach their goals, create jobs and build a more thriving entrepreneurial community."

Another Duke Energy grant will allow the Florida Economic Development Council Foundation to formulate curriculum and program delivery for a year-round professional development program for individuals and organizations.

"Florida's economy continues to grow and expand," said Beth Cicchetti, executive director of the Florida Economic Development Council Foundation. "We are grateful for Duke Energy's continued support in helping the Florida Economic Development Council continue its strong support of business and economic development professionals throughout the state and improve the economic well-being for all Floridians."

A complete list of grant recipients and program details can be found here.

Duke Energy Florida

Duke Energy Florida, a subsidiary of Duke Energy, owns 10,500 megawatts of energy capacity, supplying electricity to 1.9 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida.

Duke Energy Foundation

The Duke Energy Foundation provides more than $30 million annually in philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation is funded by Duke Energy shareholders.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 27,600 people.

Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company has interim carbon emission targets of at least 50% reduction from electric generation by 2030, 50% for Scope 2 and certain Scope 3 upstream and downstream emissions by 2035, and 80% from electric generation by 2040. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune's 2023 "World's Most Admired Companies" list and Forbes' "World's Best Employers" list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Media contact: Audrey Stasko
Media line: 800.559.3853
Twitter: @DE_AudreyS

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SOURCE Duke Energy

FAQ

Who is investing in the grants to support local economic development in Florida?

Duke Energy and the Duke Energy Foundation are investing in the grants.

How much money is being invested in the grants?

$682,000 is being invested in the grants.

What is the purpose of the grants?

The grants aim to support local economic development agencies and businesses in attracting new jobs and investment to Florida.

Which organization will receive funding to identify and vet biotechnology businesses?

The University of Florida (UF Innovate|Accelerate) will receive funding to identify and vet biotechnology businesses.

What will the Florida Economic Development Council Foundation do with the grant?

The Florida Economic Development Council Foundation will use the grant to formulate curriculum and program delivery for a professional development program.