Amid concerns that Progress Energy will slack off on corporate giving after the company merges with Duke Energy, the Raleigh-based electric utility is showering its home town with reminders of its commitment to local philanthropy.
Progress said this morning it will give $1.5 million to cultural organizations over three years to support their programs as well as to create a free annual arts festival. The day-long festival, called ARTStober, will be held tomorrow in downtown Raleigh.
The amount of the gifts is in line with previous years, except that this time the donations merited a special announcement to draw attention to the company's corporate giving. The Progress Energy Foundation distributes charitable donations on a quarterly basis.
"This is a tangible way to demonstrate we continue to be committed to Raleigh and to the arts," said Progress spokesman Scott Sutton. "The big difference is we're committing not only for this year but for the next two years as well."
Progress and Charlotte-based Duke said in January they're combining operations and creating the nation's biggest electric utility to be based in Charlotte. The merger, planned to close this year, will result in the loss of 2,000 jobs.
Progress will eliminate 700 to 1,000 jobs in downtown Raleigh, up to half its downtown workforce, but said it is committed to maintaining a "significant presence" here.
Community leaders feared the merger would result in a significant loss of jobs during an economic downturn and cuts to charitable giving.
Today's announcement will fund programs by the Carolina Ballet, Hot Summer Nights at the Kennedy, N.C. Symphony, N.C. Opera, N.C. Theatre and PineCone, a nonprofit organization that promotes roots music and folk music. PineCone is the only local organization on the list that previously did not receive financial support from Progress.
"Part of it is to reinforce the fact that we're not going anywhere in downtown Raleigh," Sutton said. "Announcing it separately just draws attention to the fact."
John Murawski has been a full-time newspaper reporter since 1991, with stints at Legal Times and The Chronicle of Philanthropy (both in Washington, DC), The Philadelphia Inquirer and The Palm Beach Post (in South Florida) before arriving at the N&O in December 2004. At the N&O he covers energy (nuclear, coal, renewable, efficiency), utilities (electric, natural gas, telephone) and telecommunications. His beat includes such publicly traded companies as Progress Energy, Duke Energy, PSNC Energy, Piedmont Natural Gas, PowerSecure International, Tekelec, Cisco Systems, AT&T, among others. You can reach him at 919-829-8932 or 
Comments
affordable electricity vs. the ballet
Fri, 10/14/2011 - 16:41 — outhousecatHow about if they just concentrate on what they're supposed to do and make their rates a little more affordable?
People that can't pay their electric bill aren't likely going to have the spare funds to go to the ballet.
Money
Fri, 10/14/2011 - 14:32 — dardjohnI hope that they are giving money to other cultural organizations in eastern N.C. Not just taking the money from eastern NC to support only Raleigh cultural organizations. I wouldn't count on any coming to anyone outside the Raleigh area though. We'll just keep sending the money to you guys to spend as you want and not say anything as you ask for more rate increases. It's important that the rich get richer.
Doesn't sound like they need
Fri, 10/14/2011 - 13:56 — ProwlingWoofieDoesn't sound like they need that rate increase they're asking for, does it ???