Perryman Study Shows Nuclear Power Facility Would Bring an Economic Engine to Victoria

VICTORIA, Texas, July 31  /PRNewswire-FirstCall/ -- The construction and operation of Exelon's proposed nuclear power facility would employ more than 700 high-paid workers and create more than 6,500 ancillary jobs in the Victoria area. Total local spending would increase by more than $2 billion each year, according to a recent 65-page study by The Perryman Group, an economic and financial analysis firm based in Waco, Texas.

According to the report, if Exelon moves forward with the project, not only will the nuclear power facility contribute substantial electricity generation capacity to ensure a more stable supply of affordable power in Texas, it will also enhance fuel diversity in the state's energy mix, reduce greenhouse gas emissions and create an economic engine for the region through gains from the construction, development and operation of the facility.

"Any business investment produces spin-off effects, which ripple through the economy," Dr. Ray Perryman, president of The Perryman Group, said. "For example, construction of the nuclear facility will likely involve input from a variety of industries such as engineering services, construction equipment rentals, security, legal services, building supplies, landscaping, janitorial services, and many more." Once the facility is operational, a similar "multiplier effect" will magnify the plant's benefits to Victoria and to the entire state.

According to the study, if Exelon builds the plant, benefits would include:

--  Construction and development will lead to incremental tax receipts over the build-out period, including $348 million to the state and about $70 million to local governments (school districts, cities, counties and others).

--  More than 700 permanent, high-paid employees at the plant and more than 6,500 ancillary jobs in the Victoria area.

--  Wages and salaries of the employees on site would likely be substantially higher, almost 90 percent, than the average for the area.

--  Economic output -- goods and services produced in the area -- would increase even more over the construction period of the plant.

--  The facility will also serve as an important source of growth and diversification for the area's economy, and long-term effects on property values are likely to be positive.

"It's a win/win situation for Victoria and Texas," Bill Harris, community outreach manager for Exelon, said. "Not only would the facility create safe, clean nuclear energy, it would come with this added financial bonus."

In 2007, Exelon announced it was exploring building a nuclear facility in Victoria County and that it would file a combined construction and operating license application (COLA) with the Nuclear Regulatory Commission as part of the decision-making process. The site encompasses 11,500 acres about 20 miles south of the city of Victoria, near McFaddin. If Exelon moves forward with this project, construction could begin as early as 2011.

For a copy of the Exelon Economic Impact Report, go to http://www.nuclearenergyfortexans.org/.

Exelon Corporation is one of the nation's largest electric utilities with approximately 5.2 million customers and more than $15 billion in annual revenues. The company has one of the industry's largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic. Exelon distributes electricity to approximately 5.2 million customers in northern Illinois and Pennsylvania and natural gas to more than 470,000 customers in southeastern Pennsylvania. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.

Contact:  Bill Harris  361-578-2705 (o)

309-716-9110 (c) 

DATASOURCE: Exelon Corporation



CONTACT:  Bill Harris, [phone], cell, [phone], for Exelon

Corporation



Web Site: http://www.nuclearenergyfortexans.org/ 

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