Cleco Power Receives Economic Development Award for Efforts to Grow Communities

by | Jun 15, 2023 | Investors

PINEVILLE, La. – June 15, 2023 – Cleco Power was recently recognized for efforts to grow communities across its service territory in the utility category of Business Facilities magazine’s 1st Annual Economic Development Organization (EDO) Awards.

Business Facilities, a leading source of intelligence on corporate expansion and relocation, featured winners of the EDO Awards in the May / June issue of their magazine. Recipients were chosen by the magazine editors based on innovative or impactful programs and initiatives aimed at improving the communities they serve.

“Every organization has a story behind their strategy, and we applaud all who submitted a nomination,” said Anne Cosgrove, editorial director of Business Facilities. “While these stories vary by size and scope, a common thread is that our winners demonstrated proven results, innovation, and resourcefulness, as well as effective partnerships. Congratulations to each of this year’s winners!”

“We began a reset of our economic development strategy last year to revitalize our communities, sustain our environment and create a better Louisiana,” said Eric Schouest, vice president of marketing and government affairs for Cleco Power. “This recognition is a good indicator that we’re on the right track.”

Thus far, the reset strategy has included an economic development assessment by Newmark’s Global Strategy consulting practice, leading experts in corporate real estate and economic development, and the hiring of Richard Cornelison, an economic development industry veteran with 27 years of experience, to lead Cleco Power’s new economic development team.

“We are humbled and honored to be recognized as a top utility EDO by Business Facilities, as this notable achievement reflects our unwavering commitment to fostering economic growth, empowering communities and creating new opportunities in Louisiana,” said Cornelison, interim director of marketing and economic development for Cleco Power. “We share this accolade with our dedicated team, supportive partners and the visionary leaders who have made this success possible. Together, we will continue to drive progress and build a prosperous future for all.”

“Congratulations to Cleco Power on this recognition of their hard work and new initiatives,” said Kim Moore, executive managing director of consulting for Newmark. “We are excited to see the company’s progress and grateful to be in business together.”

Cleco Corporate Holdings LLC is a regional energy holding company that conducts its business operations through its subsidiaries, Cleco Power LLC and Cleco Cajun LLC. Cleco Power is a regulated electric public utility company that owns nine generating units with a rated capacity of 3,035 MWs and serves approximately 291,000 customers in Louisiana through its retail business and supplies wholesale power in Louisiana and Mississippi. Cleco Cajun is an unregulated utility company that owns 14 generating units with a rated capacity of 3,379 MWs, and wholesale contracts serving electric cooperatives, municipalities, an electric utility and a nonprofit corporation. For more information about Cleco, visit www.cleco.com.

Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of March 31, 2023, Newmark’s company-owned offices, together with its business partners, operate from over 170 offices with approximately 7,300 professionals around the world. To learn more, visit nmrk.com or follow @newmark.