Alabama Power becomes private partner in development

Published 12:00 am Wednesday, June 18, 2003

The entity that's used to giving the county an economic boost got one of its own Wednesday.

The Pike County Economic Development Corporation received a $10,000 check from Alabama Power, marking the company as one of the first private entities to join forces with the public sector under the economic development corporation.

"We think anything that's good for the City of Troy is good for Alabama Power," Alabama Power vice president Bobby Kerley said.

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"We came about a year ago and look at Troy's economic development plan and were thoroughly impressed…we knew we needed to be involved to recruit prospects," he added.

Alabama Power provides the bulk of the wholesale power the city sells to customers on the city's electricity system.

The concept behind the Pike County Economic Development Corporation is to blend public and private resources to create economic growth, said Marsha Gaylard, the corporation's president.

Alabama Power was one that responded to the call.

"They have been very generous in agreeing to be one of our private funding partners," she said.

Alabama Power isn't the only private partner, however.

"We've had great support from Southeast Alabama Gas District - they've been a long-tim funder and major supporter in economic development," Troy Mayor Jimmy Lunsford said.

According to information released by Gaylard, the following private commitments that have been made to date are:

Southeast Ala. Gas Dristrict


Whaley Constructions Company, $10,000

Alabama Power Company, $10,000

First National Bank of Brundidge, $1,800

Troy Bank & Trust, $6,750

Regions Bank, $2,850

ITC/Deltacom, $7,000.

Public-sector funding partners to date are:

City of Troy, $50,000

City of Brundidge, $14,000

City of Banks, $1,000

City of Goshen, 41,000

Pike County Commission, in-kind services.