Applications are available to individuals and groups by visiting the "Ameren Community Development Corporation" link on Ameren's Web site, www.ameren.com, by e-mail at firstname.lastname@example.org, or by phone at 800.981.9409.
Created with the 2002 completion of a joint settlement of a rate case between AmerenUE and the Missouri Public Service Commission, the AmerenCDC is a not-for- profit organization dedicated to addressing critical economic development initiatives in the state. It is Missouri's first utility-based economic development corporation to operate exclusively across the 20,000 square miles of AmerenUE's retail electric service area in Missouri.
The AmerenCDC is managed, supervised and controlled by its board of directors, who were selected by a collaborative process among Missouri Governor Bob Holden, the Missouri Public Service Commission and AmerenUE.
"Missouri is now moving forward in job creation, and this new, not-for-profit organization will be another tool to be used to continue our economic momentum," Gov. Holden said. "I am pleased to see the board has developed procedures that ensure all applicants will be considered quickly and fairly. These grants can provide stimulus for a variety of job creation projects."
Missouri Public Service Commission Chairman Steve Gaw added: "We are pleased with the continued commitment on the part of all those involved in this unique program to foster economic development and jobs in our state."
Ameren made an up-front contribution of $5 million to the CDC in September 2002. The company will fund an additional $1 million in each of the following four years of the plan, bringing the total amount to $9 million to fulfill the commitments of the rate-case settlement.
The board will distribute these funds based on each applicant's ability to stimulate community and economic development, resulting in community revitalization and the creation or retention of jobs.
"The AmerenCDC will have a lasting economic impact on the AmerenUE service area communities and the state of Missouri," said Ameren Chairman and Chief Executive Officer Gary Rainwater. "We appreciate the opportunity to work with the Office of the Governor, the Missouri Department of Economic Development and the Missouri Public Service Commission in developing this unique program."
Community development corporations have been used as economic development tools dating back to the mid-1970s. Today, they are used to stimulate economic development, housing, redevelopment and commercial revitalization in communities.
The Missouri Department of Economic Development has been instrumental in establishing several community-based CDCs to leverage state and federal funding resources for the benefit of communities. By covering AmerenUE's 65-county Missouri service area, the AmerenCDC will have broad geographic distribution and increased project activity.
With assets of $14.3 billion, Ameren owns a diverse mix of electric generating plants strategically located in its Midwest market with a capacity of more than 14,600 megawatts. Ameren's operating companies serve 1.7 million electric customers and 500,000 natural gas customers in a 49,000 square-mile area of Missouri and Illinois.