The Duke Energy Foundation is funding $200,000 in grants to Indiana economic development organizations offering crisis relief to small Indiana businesses. The businesses range from a city of Madison program offering its downtown businesses rent support to a Brownstown tool supplier that committed to retaining and paying its employees during the pandemic.
“These are challenging times, and the COVID-19 crisis has been particularly difficult for small companies,” said Duke Energy Indiana President Stan Pinegar. “These grants will support those businesses that are the backbone of the Hoosier communities we serve statewide.”
Indiana economic development groups and other entities such as municipalities will receive $5,000 grants and will then identify businesses in need of the funds.
“This grant will allow us to provide temporary rent reductions to a handful of companies in our high-tech business incubators,” said Paul Moses, director of business development for the Purdue Research Foundation. “We’re hoping it will help them power through the crisis, enabling them to keep moving their innovative products and services to market.”
The grants are in addition to $100,000 the Duke Energy Foundation awarded early in the crisis to help food banks and other community action groups across Indiana address hunger and other urgent needs. The Foundation also recently announced $382,000 in grants to support Indiana K-12 programs focused on summer reading programs, STEM and experiential learning. The Foundation is giving the schools and other groups receiving the grants flexibility to reallocate grant funds during the pandemic.
Locally, the following entities are receiving grants, which in turn they are distributing to Duke Energy business customers in their areas:
- City of Fishers
- City of Westfield
- Hamilton County Economic Development Corporation
About the Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. In Indiana, the Foundation provides approximately $2 million in charitable gifts to a wide variety of non-profit groups. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.