Indiana Development Finance Authority Approves $1 Million Loan for Midwest ISO

Apr 19, 2001, 01:00 ET from Midwest Independent Transmission System Operator

    INDIANAPOLIS, April 19 /PRNewswire/ -- The Midwest Independent
 Transmission System Operator, Inc. (MISO), announced today that the Indiana
 Development Finance Authority (IDFA) has approved a $1 million business
 development loan for the regional wholesale electric transmission operator.
     The loan is part of the economic development package that the state
 offered the Midwest ISO in November 1999 to locate in central Indiana.  Under
 the terms of the 10-year loan, the Midwest ISO agreed to add 150 jobs paying
 an average annual salary of $75,000 and to invest more than $70 million in its
 high-tech infrastructure.  Up to $500,000 of the loan would be forgivable if
 the Midwest ISO meets those development goals.
     "This venture is bringing high-wage, high-growth jobs to our state and
 we're proud to be a partner in it," said Lt. Governor Joe Kernan, who serves
 as secretary-manager of IDFA.  "We look forward to a productive relationship
 with the MISO in the future."
     The Midwest ISO's 93,000 square-foot headquarters and control room is
 located in Carmel's Science and Industrial Park.  When operational in
 December, the MISO will provide non-discriminatory open access to the regional
 wholesale bulk electric system.
     "We are very pleased with the IDFA's action and grateful for Indiana's
 economic development incentives," said Jim Torgerson, president and CEO of the
 Midwest ISO.  "These funds will assist MISO in becoming operational by
 allowing us to buy sophisticated computer equipment for our control center in
 Carmel," he added.
 
 

SOURCE Midwest Independent Transmission System Operator
    INDIANAPOLIS, April 19 /PRNewswire/ -- The Midwest Independent
 Transmission System Operator, Inc. (MISO), announced today that the Indiana
 Development Finance Authority (IDFA) has approved a $1 million business
 development loan for the regional wholesale electric transmission operator.
     The loan is part of the economic development package that the state
 offered the Midwest ISO in November 1999 to locate in central Indiana.  Under
 the terms of the 10-year loan, the Midwest ISO agreed to add 150 jobs paying
 an average annual salary of $75,000 and to invest more than $70 million in its
 high-tech infrastructure.  Up to $500,000 of the loan would be forgivable if
 the Midwest ISO meets those development goals.
     "This venture is bringing high-wage, high-growth jobs to our state and
 we're proud to be a partner in it," said Lt. Governor Joe Kernan, who serves
 as secretary-manager of IDFA.  "We look forward to a productive relationship
 with the MISO in the future."
     The Midwest ISO's 93,000 square-foot headquarters and control room is
 located in Carmel's Science and Industrial Park.  When operational in
 December, the MISO will provide non-discriminatory open access to the regional
 wholesale bulk electric system.
     "We are very pleased with the IDFA's action and grateful for Indiana's
 economic development incentives," said Jim Torgerson, president and CEO of the
 Midwest ISO.  "These funds will assist MISO in becoming operational by
 allowing us to buy sophisticated computer equipment for our control center in
 Carmel," he added.
 
 SOURCE  Midwest Independent Transmission System Operator