Progress Energy 2004 Annual Report Download - page 12

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Viewing growth as the catalyst for real momentum. No question, Progress Energy’s territory is growing.
Development – residential, commercial, industrial – is everywhere you look. But what we see is more than
new subdivisions and businesses. We see the foundation of a prosperous future and increased value for
our shareholders. That’s why we’ve focused people and resources on the job of attracting new businesses
and expanding existing ones. By all accounts, it’s energy well spent.
Our customer base is growing at a rate of 2 percent to 3 percent annually – that’s an average of
60,000 new customers every year. In Florida, high-tech industry is rapidly becoming a significant contributor
to the state’s economy, with several large companies relocating to the state in 2004. And over the next
five years, the independent research firm Economy.com projects that Florida will rank fourth nationally in
economic growth and fifth in population growth.
In the Carolinas, the pharmaceutical and health service industries saw significant growth in 2004, with
more on the horizon. Thanks to this kind of sustainable development, Economy.com projects North Carolina to
continue to rank among the fastest-growing states in the nation in population and new residential construction.
Economic development is about far more than creating new Progress Energy customers today. It’s
about creating the kind of lasting growth that triggers more of the same – helping other businesses expand
and providing valuable opportunities for people in the cities and towns we serve. We’re pursuing our own
future, from the inside out.
focus sound strategy steady execution economic development community initiatives vision
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