American Electric Power Company Inc. is relocating its transmission division headquarters to New Albany Business Park in Ohio. AEP expects the $7.2 million facility to take two years to complete and the project will employ 450 to 500 people in the area. The building will also be built in accordance with the U.S. Green Building Council's Leadership In Energy and Environmental Design standards, the Newark Advocate reported.
The new facility will be next door to AEP's transmission operations center, which opened in 2008, according to the Newark Advocate.
The decision was made to move the headquarters to New Albany after the city approved a 15-year, 100-percent tax abatement incentive on the building, Columbus Business First reported. The city will receive 27.5 percent of the income tax revenue and the county school district will receive 27.5 percent of income tax revenue instead of the property taxes.
The current headquarters is an 83,500-square-foot location in Gahanna, Ohio, according to Columbus Business First. It moved there approximately 17 years ago and created about 600 jobs. The new location will be a 195,000-square-foot facility and is expected to move more than 450 jobs to the area.
"We have been pleased with our Transmission Operations Center in New Albany, and our long-term strategy requires additional space designed to meet the needs of our changing workforce and the competitive business environment," Lisa Barton, the executive vice president of AEP Transmission, stated. "Our transmission employees in Central Ohio currently work in several different locations, and we see significant cultural, operational and efficiency benefits from having them working together in one location."
Businesses should work with manufacturing recruiters to find skilled labor for its new positions. Recruiters can find experienced and qualified workers while the businesses focus on training and growth.