Progress Energy Names World-Class Performing Arts Center in St. Petersburg

Bayfront Center renamed Progress Energy Center for the Arts



May 04, 2006, 01:00 ET from Progress Energy

    ST. PETERSBURG, Fla., May 4 /PRNewswire/ -- Progress Energy and the
 city of St. Petersburg today announced a 20-year partnership to rename the
 Bayfront Center the Progress Energy Center for the Arts, effective
 immediately.
     (Logo: http://www.newscom.com/cgi-bin/prnh/20020923/CHM008LOGO-c)
     The Progress Energy Center for the Arts will feature visual and
 performing arts - including the newly renovated Mahaffey Theater, the
 offices of the Florida Orchestra, the Grand Ballroom, the atrium, the
 Center Plaza, Waterfront Park and the proposed new home of the Salvador
 Dali Museum.
     "This is an investment in the future of St. Petersburg, Progress Energy
 Florida's hometown," said Jeff Lyash, incoming president and CEO of
 Progress Energy Florida. "The Progress Energy Center for the Arts is a key
 component to enhancing the reputation and economy of this region. We are
 delighted to add our name to this outstanding complex."
     In making the announcement, St. Petersburg Mayor Rick Baker described
 Progress Energy as a good neighbor and an outstanding corporate citizen,
 investing in economic development, education and the environment, in St.
 Petersburg and across Florida.
     "Progress Energy again has set a standard for corporate leadership in
 our community by providing funds needed to ensure programming at the center
 well into the future," Baker said. "This beautiful setting, with
 unparalleled options for arts events and outdoor festivities, will
 instantly become a major gathering spot for downtown."
     Progress Energy is committed to supporting economic development and
 growth in the communities it serves. In addition to its efforts in downtown
 St. Petersburg, the company works closely to help recruit business to
 Florida. Progress Energy's support of the arts helps to improve the quality
 of life that is so important to new and existing businesses.
     Progress Energy's commitment to downtown St. Petersburg goes far beyond
 the arts. Construction of Progress Energy Florida's new headquarters
 building, called Progress Energy Place, is under way and scheduled to be
 complete in November. When the mixed-use development is complete, it will
 house company employees, retail tenants, a hotel and condominiums. Progress
 Energy will have about 500 employees in downtown St. Petersburg.
     Since 2001, Progress Energy has invested almost $800,000 in the Florida
 Orchestra, Mahaffey Theater and the Salvador Dali Museum, some of the
 organizations that will be located in the Progress Energy Center for the
 Arts.
     Progress Energy's investment in the arts complex will be about $250,000
 per year. The company will contribute $6 million to the city of St.
 Petersburg over the 20 years for naming rights to the arts complex.
     Progress Energy's funding of these organizations sponsors performances,
 but it also brings the arts to local schools. The organizations use a
 portion of their Progress Energy grants for outreach programs for public
 school students in Progress Energy's Florida service area.
     Progress Energy Florida, a subsidiary of Progress Energy (NYSE:   PGN),
 provides electricity and related services to more than 1.5 million
 customers in Florida. The company is headquartered in St. Petersburg, Fla.,
 and serves a territory encompassing over 20,000 square miles including the
 cities of St. Petersburg and Clearwater, as well as the Central Florida
 area surrounding Orlando. Progress Energy is the 2005 recipient of the
 prestigious J.D. Power and Associates Founder's Award for dedication,
 commitment and sustained improvement in customer service. For more
 information about Progress Energy, visit the company's Web site at
 www.progress-energy.com.
 
 

SOURCE Progress Energy
    ST. PETERSBURG, Fla., May 4 /PRNewswire/ -- Progress Energy and the
 city of St. Petersburg today announced a 20-year partnership to rename the
 Bayfront Center the Progress Energy Center for the Arts, effective
 immediately.
     (Logo: http://www.newscom.com/cgi-bin/prnh/20020923/CHM008LOGO-c)
     The Progress Energy Center for the Arts will feature visual and
 performing arts - including the newly renovated Mahaffey Theater, the
 offices of the Florida Orchestra, the Grand Ballroom, the atrium, the
 Center Plaza, Waterfront Park and the proposed new home of the Salvador
 Dali Museum.
     "This is an investment in the future of St. Petersburg, Progress Energy
 Florida's hometown," said Jeff Lyash, incoming president and CEO of
 Progress Energy Florida. "The Progress Energy Center for the Arts is a key
 component to enhancing the reputation and economy of this region. We are
 delighted to add our name to this outstanding complex."
     In making the announcement, St. Petersburg Mayor Rick Baker described
 Progress Energy as a good neighbor and an outstanding corporate citizen,
 investing in economic development, education and the environment, in St.
 Petersburg and across Florida.
     "Progress Energy again has set a standard for corporate leadership in
 our community by providing funds needed to ensure programming at the center
 well into the future," Baker said. "This beautiful setting, with
 unparalleled options for arts events and outdoor festivities, will
 instantly become a major gathering spot for downtown."
     Progress Energy is committed to supporting economic development and
 growth in the communities it serves. In addition to its efforts in downtown
 St. Petersburg, the company works closely to help recruit business to
 Florida. Progress Energy's support of the arts helps to improve the quality
 of life that is so important to new and existing businesses.
     Progress Energy's commitment to downtown St. Petersburg goes far beyond
 the arts. Construction of Progress Energy Florida's new headquarters
 building, called Progress Energy Place, is under way and scheduled to be
 complete in November. When the mixed-use development is complete, it will
 house company employees, retail tenants, a hotel and condominiums. Progress
 Energy will have about 500 employees in downtown St. Petersburg.
     Since 2001, Progress Energy has invested almost $800,000 in the Florida
 Orchestra, Mahaffey Theater and the Salvador Dali Museum, some of the
 organizations that will be located in the Progress Energy Center for the
 Arts.
     Progress Energy's investment in the arts complex will be about $250,000
 per year. The company will contribute $6 million to the city of St.
 Petersburg over the 20 years for naming rights to the arts complex.
     Progress Energy's funding of these organizations sponsors performances,
 but it also brings the arts to local schools. The organizations use a
 portion of their Progress Energy grants for outreach programs for public
 school students in Progress Energy's Florida service area.
     Progress Energy Florida, a subsidiary of Progress Energy (NYSE:   PGN),
 provides electricity and related services to more than 1.5 million
 customers in Florida. The company is headquartered in St. Petersburg, Fla.,
 and serves a territory encompassing over 20,000 square miles including the
 cities of St. Petersburg and Clearwater, as well as the Central Florida
 area surrounding Orlando. Progress Energy is the 2005 recipient of the
 prestigious J.D. Power and Associates Founder's Award for dedication,
 commitment and sustained improvement in customer service. For more
 information about Progress Energy, visit the company's Web site at
 www.progress-energy.com.
 
 SOURCE Progress Energy