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

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)

SOURCE Exelon Corporation

Bill Harris, +1-361-578-2705, cell, +1-309-716-9110, for Exelon Corporation