Magazine: Dominion one of nation's best companies for economic development

Dominion said on Tuesday that Site Selection magazine named the company as one of the top 10 utility companies in the nation for economic development.

"Creating economic opportunities while focusing on delivering safe, reliable and cost-effective electricity continues to be Dominion's mission in the areas we serve in Virginia and northeastern North Carolina," Paul Koonce, president of Dominion Virginia Power, said. "By attracting new economic growth in an extremely competitive environment, we help create sought-after opportunities that appeal to domestic and international companies seeking to establish business in our core regions."

In its selection process, the publication looks at data and website tools from the companies, incentives for business and innovation programs, and job-creating infrastructure. Dominion played a role in Chinese pulp-and-paper company  Shandong Tranlin Paper's 2014 selection of a site in Chesterfield County, Virginia, for its first U.S. advanced manufacturing facility, which is expected to create approximately 2,000 jobs in the area by 2020.

Dominion specializes in the generation and distribution of electricity that is produced in the company's nuclear and natural gas power plants. Across its generating stations, the company has approximately 24,600 megawatts of electricity capacity.