IBJNews

IPL parent eyes Indy for corporate services hub

Back to TopCommentsE-mailPrintBookmark and Share

The parent company of Indianapolis Power & Light Co. has been considering Indianapolis as the hub for a new shared-services center, and is planning a major economic development announcement in the city on Friday.

AES Corp., a multinational energy provider based in Arlington, Va., revealed its intentions in correspondence with the Indiana Utility Regulatory Commission, which would have to review any service-center agreement.

Many utility holding companies have used service companies to more efficiently provide back-office support to their subsidiaries, AES General Counsel Vincent Mathis said in a March 7 letter to IURC General Counsel Doug Webber.

"In fact, AES is considering making Indianapolis the main hub for the AES service company, which would bring new, high-quality jobs to Indianapolis," Mathis wrote.

Indianapolis Power & Light and Dayton Power & Light are AES's two North American subsidiaries.

IPL and city of Indianapolis officials declined to comment Thursday about a pending economic-development announcement. Gov. Mike Pence will join IPL executives at 9 a.m. Friday at the company's Monument Circle headquarters for the announcement.

AES is looking to cut costs throughout the corporation, and it makes sense that it would choose Indianapolis as the North American hub, said Charles Fishman, who covers AES stock for Morningstar. IPL is bigger and more profitable than Dayton Power & Light, and AES is planning to invest more than $1 billion in its Indiana power plants, he said.

"Indianapolis Power and Light has a reputation as being a very well-run utility," Fishman said.

IPL's chief executive, Ken Zagzebski, is also president of AES' North American strategic business unit, which covers Dayton Power & Light.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Can your dog sign a marriage license or personally state that he wishes to join you in a legal union? If not then no, you cannot marry him. When you teach him to read, write, and speak a discernible language, then maybe you'll have a reasonable argument. Thanks for playing!

  2. Look no further than Mike Rowe, the former host of dirty jobs, who was also a classically trained singer.

  3. Current law states income taxes are paid to the county of residence not county of income source. The most likely scenario would be some alteration of the income tax distribution formula so money earned in Marion co. would go to Marion Co by residents of other counties would partially be distributed to Marion co. as opposed to now where the entirety is held by the resident's county.

  4. This is more same-old, same-old from a new generation of non-progressive 'progressives and fear mongers. One only needs to look at the economic havoc being experienced in California to understand the effect of drought on economies and people's lives. The same mindset in California turned a blind eye to the growth of population and water needs in California, defeating proposal after proposal to build reservoirs, improve water storage and delivery infrastructure...and the price now being paid for putting the demands of a raucous minority ahead of the needs of many. Some people never, never learn..

  5. I wonder if I can marry him too? Considering we are both males, wouldn't that be a same sex marriage as well? If they don't honor it, I'll scream discrimination just like all these people have....

ADVERTISEMENT