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."