By Triangle Business Journal

The Progress Energy Foundation said Friday that it will give $1.5 million over the next three years to the performing arts organizations headquartered in Raleighâ¿¿s Progress Energy Center for the Performing Arts.

The funds will be used to develop the organizationsâ¿¿ programs and productions, as well as create an annual community arts festival called ARTStober. The inaugural ARTStober festival, which is free to the public, will be held Saturday, Oct. 15.

The organizations receiving money include: the Carolina Ballet, Hot Summer Nights at the Kennedy, North Carolina Opera, North Carolina Symphony, North Carolina Theatre and PineCone.

The Progress Energy Foundation is funded each year by the Raleigh-based utilityâ¿¿s board of directors from shareholder funds.

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