Grants and free programs for small businesses in Ohio

Ohio Power (AEP Ohio) Economic Development Rate Stabilization Plan grants

Ohio Power Company (AEP Ohio)For businesses and local governments and tribesOnly in Ohio

Ohio Power's Economic Development Rate Stabilization Plan (RSP) grants help new and existing industries and communities in its Ohio service territory cover utility infrastructure costs for location and expansion projects that create or retain jobs and generate new investment. Ohio Power's economic development managers work with local economic development organizations, the Ohio Department of Development and the company to complete the application; Ohio Power, ODOD and PUCO must approve each project.

What you get

Amount not stated (set per project)

Who qualifies

• Communities and industries within Ohio Power's service territory
• New location or expansion project that creates new jobs, retains existing jobs and generates new investment
• Funds offset utility infrastructure costs (new service facilities, upgrades, replacement or relocation of existing facilities)
• Funding based on new or retained jobs, demonstrated support and need, and other funding sources; Ohio Power, ODOD and PUCO must approve

How to apply

1. Contact an Ohio Power economic development manager about the project
2. Work with the manager, your local, county or regional economic development organization and the ODOD Business Development Division to complete the grant application
3. After funding is set, ODOD issues a commitment letter; return an acceptance letter to accept the grant

Program page checked on October 16, 2026. The amount or dates aren't published, so confirm them on the program page.