
| Economic Development |
Dominion
is proud to partner with other businesses, local governments and civic
organizations to build stronger communities where we do business. Reliable,
affordable and plentiful energy is a fundamental driver of today’s
growing digital economy and the goods and services that sustain healthy
communities. |
Nowhere is the economy more vibrant than in our home state of Virginia, which leads the nation in high-tech job growth. In fact, roughly half of the nation’s Internet traffic is routed through the Northern Virginia suburbs abutting Washington, D.C. One data center that helps manage the electronic flow of information consumes the same amount of electricity as 6,000 average homes. Twenty of them are currently in operation. Another 25 data centers are planned for the region over the next five years. Together, their operations will consume as much power as a large American city.
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It came as no surprise to us when Forbes.com named Virginia “Best
State for Business” in 2006 and 2007. The lowest average industrial
electric rates on the East Coast played a big role in this ranking. To keep pace with customer demand, Dominion will have to add more than 4,000 megawatts of new generating capacity to its system by 2017. That’s the equivalent of serving the needs of one million new homes. |
The challenge for us will be to meet this growing energy need reliably, efficiently and at the lowest possible cost. It’s not a challenge we can choose to accept or decline. It is both a legal mandate and an ethical commitment to our customers. We will have to draw on all the resources at our disposal to get the job done — including fossil, nuclear and renewable sources, as well as increasing reliance on con-servation and efficiency programs. We will also have to build new transmission lines to move needed power to high-growth areas, primarily Northern Virginia and the Hampton Roads area of Virginia. |
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Building
new energy infrastructure is not without contro-versy. We recognize that
different stakeholders often have competing concerns and perspectives.
We do our best to maintain open channels of communication and working
relationships with all groups whose interests we intersect in the course
of doing business. As a general principle, our approach is to find energy
solutions that balance economic growth and environmental protection. Along with keeping energy costs down and reliability high, it is part of what we do to enhance the appeal of our communities as attractive sites for new and expanded business ventures. |