Eric Basinger, manager of Business and Economic Development, explains how economic development riders benefit qualifying employers across the region.
Whether expanding operations in Arkansas, launching a new facility in Louisiana, or creating jobs in Texas, SWEPCO offers powerful incentives to help manufacturers and large-scale businesses grow while reducing energy costs.
These programs are designed to stimulate job creation, attract investment and support long-term economic vitality in the communities SWEPCO serves.
In recent Ways to Save segments, SWEPCO’s Manager of Business and Economic Development Eric Basinger explains how economic development riders benefit qualifying employers across the region. Each program is tailored to meet the unique needs of its state, making it easier for companies to grow sustainably.
“We want to bring new businesses to our communities,” Basinger said. “It helps them thrive and grow, and we want to be a big player in that growth.”
The program is ideal for manufacturers, data centers, logistics hubs, and other energy-intensive operations planning growth.
Arkansas:
To qualify, applicants must meet one of the following criteria:
- New electrical load greater than 500 kW
- Expansion of existing electric use by more than 500 kW
- Resumption of an electric load over 500 kW inactive for at least 12 months
Qualifying companies receive a discount on energy costs: 50% in Year 1, 40% in Year 2, and 30% in Year 3.
Louisiana and Texas:
Applicants must meet one of the following criteria:
- New electrical load greater than 500 kW
- Expansion of existing load by more than 500 kW
- Resumption of a load over 500 kW inactive for at least 12 months
Incentives are based on job creation:
- 4 –19 new jobs: 40% discount in Year 1, 30% in Year 2, 20% in Year 3
- 20+ new jobs: 50% discount in Year 1, 40% in Year 2, 30% in Year 3
Timing is everything. Qualifying manufacturers and large-scale businesses must contact SWEPCO before beginning construction or installing equipment. Early engagement ensures eligibility and allows SWEPCO to guide applicants through the process. The application is reviewed annually, so planning is key.
Learn more about the comprehensive support provided to businesses relocating or expanding in SWEPCO’s three-state footprint.
Watch the SWEPCO program on SWEPCO's YouTube playlist and KTBS.com/WaystoSave to learn proven tips, incentives, and programs to help reduce energy consumption and save money.