Volunteer Energy Cooperative is committed to the area we serve to provide services that improve the quality of life and foster economic development.
A variety of services are offered through the office of Marketing and Economic Development at VEC for existing, expanding, or new businesses. We work in cooperation with the Tennessee Department of Economic and Community Development, the Tennessee Valley Authority, USDA Rural Development, and other organizations to ensure that businesses and industries served by VEC remain competitive and strong.
One of the goals of VEC is to enhance economic development by improving the business climate for existing organizations. We are responsive to needs of our corporate member-owners.
Energy Efficiency Services – Working with TVA, VEC can offer a variety of studies and consultations to assist existing businesses with energy efficiency projects. Our tools will help you streamline the energy usage of lighting, heating and air conditioning, motors, and other equipment.
Support for Companies That Have a Long-Term Commitment to the Area – For years, financial incentives have been available to new business prospects that locate in a community. VEC and TVA realize that, while new business is important, the strength of a community centers around the businesses that are already there. Specialized incentives are available for companies that plan to maintain and grow their operations in the area.
Key Accounts Services – VEC strives to provide personalized services to help existing businesses save on their energy costs, explore the latest technology, or assist with other projects to keep operations strong.
Comprehensive Services – this program, operated in conjunction with TVA, provides engineering expertise to assist companies with lighting design, energy saving projects, or other needs. Services are offered free or at very low cost.
Overview of VEC Commercial Electric Rates – For an industrial rate quote, contact VEC’s office of Marketing and Economic Development.
New Business Prospects
VEC and TVA can bring together a variety of programs and services to assist new businesses in locating in the VEC service area. Assistance with building and other fixed asset costs, infrastructure improvements, and energy costs may be available to qualifying new or expanding businesses.
Use this easy link to research sites for new facilities in our service area: www.tvasites.com
Financing for Job Creating Projects
VEC offers rural economic development loans for job creation projects. This program, operated through the USDA Rural Development, provides loans to VEC to re-lend to third party borrowers to promote rural economic development and job creation projects. It provides funding for projects that create or retain jobs in rural areas and provide economic development opportunities to under-served communities.
Applications from all across the nation are submitted to USDA Rural Development in Washington, D.C. They are scored on items such as job creation/retention potential, the ability of the borrower to sustain the project, suitability of project to the area, diversification of employment in the area, amount of supplemental funding provided by the borrower, employment levels of the area served, and other criteria.
Potential borrowers must submit a detailed business plan, including financial information, to VEC’s Marketing and Economic Development Department. The information will be submitted to the President/CEO and the VEC Board of Directors who will determine the viability of the project for application. If the project is deemed a viable candidate for success, the MED department will prepare and submit a USDA loan application. If successfully funded by USDA Rural Development, the loan will be re-lent to the government organization at a low interest rate, typically 0% for up to 10 years. The government typically then re-lends the funds to the company.
Interested individuals may contact VEC’s Marketing and Economic Development Department.
TVA Valley Incentive Programs
Volunteer Energy Cooperative and TVA are proud to promote the Valley Incentive Programs (VIP) to qualifying businesses that are expanding or locating in the VEC service area. Click here to get more information.