FOR IMMEDIATE RELEASE
ITC Midwest to Build Operations Facility in Perry
Electric Transmission Company to Employ 25, Move into Spec Building
Perry, Iowa, April 1, 2008 – ITC Midwest LLC., the company that recently acquired electric high-voltage transmission lines in the region, has purchased the Perry Industrial Park spec building and will establish its field operations there, Perry Industries, Inc. has announced. The 30,000 square-foot warehouse will eventually serve as a base of operations for 25 ITC Midwest staff, according to Richard Jones, Perry Economic Development Inc. President.
“We are very pleased that ITC Midwest chose to locate its operations in the Perry area,” Jones said. “ITC Midwest plays a key role in promoting energy reliability in our region. Their selection of Perry for a base of operations affirms our strategy of creating an attractive business park and spec building to draw first-class business operations and quality jobs to our area.”
The warehouse facility is located on approximately 11.5 acres on Highway 141 east of Perry. The company will start work next month to prepare the facility for occupancy later this summer.
ITC Midwest purchased the high voltage electric power lines from Alliant Energy’s Interstate Power and Light Co. (IPL) subsidiary on December 20, 2007. The purchase included the acquisition of approximately 6,800 miles of 34,500-volt (34.5 kV) and higher voltage transmission lines and approximately 170 transmission substations located in Iowa, Minnesota, Illinois and Missouri. As the company prepares to take over operations of the IPL transmission system, it is establishing warehouses and offices throughout Iowa and Minnesota. The company also has major facilities in Cedar Rapids and Dubuque, Iowa.
ITC Midwest is a wholly-owned subsidiary of ITC Holdings Corp. (ITC). Based in Novi, Michigan, ITC is the largest and only fully independent electricity transmission company in the United States.
The company is pleased to join the Perry community and looks forward to getting its operating facility underway, said Dick Coeur, ITC Midwest general manager of community and customer relations.
“Our Perry facility will serve as an important base of operations for ITC Midwest,” Coeur said. “Our employees based here will be working to create a robust transmission system that improves electric reliability for the region. A strong transmission system also gives customers broader access to electric generating sources, including lower-cost sources that can help lower customers’ overall electricity costs. Finally, this facility will be key to connecting customers to the clean wind energy developments underway in the area, encouraging renewable energy and its economic benefits for our region.
“We look forward to partnering with the Perry community to make that happen.”
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About ITC Holdings Corp.
ITC Holdings Corp.
(NYSE: ITC) invests in the electricity transmission grid to improve electric reliability, improve access to markets, and lower the overall cost of delivered energy. ITC is the largest independent electricity transmission company in the country. Through its subsidiaries, ITC
Transmission, Michigan Electric Transmission Company, LLC (METC) and ITC Midwest LLC, ITC operates regulated, high-voltage transmission systems in Michigan's Lower Peninsula and portions of Iowa, Minnesota, Illinois and Missouri serving a combined peak load in excess of 25,000 megawatts. ITC is also focused on new areas where significant transmission system improvements are needed through subsidiaries ITC Grid Development, ITC Great Plains and ITC Panhandle Transmission. For more information, please visit:
www.itctransco.com.
