March 11, 2004 - Study: Oyster Creek Generates Economic Power, Not Just Electricity, for Ocean County Contact: Gina G. Scala - 609-971-2180 LACEY TOWNSHIP, NJ - Oyster Creek Generating Station generated more than $69 million in direct and indirect wages and compensation in New Jersey and more than $52 million in Ocean County in 2003, a new economic study says. The nuclear station also purchased $7.7 million in goods and services in Ocean County last year, paid $9.2 million in direct state and local taxes and was responsible for another $3 million in local taxes paid by employees who work at the plant. While Oyster Creek directly employs 451 full time workers (not including security forces), spending by those employees and the plant's day-to-day business activities supported a total of 915 jobs across Ocean County and 1,034 across New Jersey. Those and other statistics are contained in a 30-page report entitled The Economic Benefits of Oyster Creek Generating Station released this week by AmerGen. The report is based on a study conducted for AmerGen by the Nuclear Energy Institute, an industry association in Washington, D.C. For the study, a leading "fiscal impact analysis model" known as Impact Analysis for Planning was used to analyze employment and production information supplied by AmerGen and economic data from Ocean County, New Jersey and the federal government. The model captures economic relationships among households, businesses, industries and governments, as well as the consumption of goods and services by various economic sectors. It is commonly used to determine the broader community effects of particular economic activities, such as business relocations, military base openings or closings, tourism and public infrastructure investment. Among other notable findings of the study: . Direct and indirect compensation in Ocean County resulting from the plant's business activities totaled $52.9 million. In New Jersey, the total was $69.3 million. . If the value of electrical production is considered, Oyster Creek contributed a total of $234 - more - million to Ocean County's Gross Domestic Product in 2003 and $247 million to the state's GDP. . Compensation at Oyster Creek was 11 percent higher than the average for Ocean County. Average plant compensation was $69,606 in 2003. In the county, the average was $61,602 . Economic activity by the plant in 2003 led to $33 million in increased economic output in Ocean County and $46.5 million more economic output in New Jersey. . Oyster Creek is the largest employer in Ocean County. Seventy-eight percent of plant employees live in Ocean County. . Oyster Creek wage earners took their wages home to a variety of Ocean County locations. Employees living in Forked River, for example, earned 2003 compensation totaling $5.1 million. In Barnegat, compensation was $4.1 million; in Toms River, $4.4 million; and in Lanoka Harbor, $2.3 million. . Oyster Creek had a significant, positive economic impact on virtually every sector of the Ocean County economy in 2003. For example, total economic output and employment in Ocean County's hospital sector increased by $1.9 million and 29 jobs as a result of the plant. For the real estate industry, output and employment increased by $1.5 million and nine jobs. For doctors and dentists, it was $1.8 million and 18 jobs, and for eating and drinking establishments, $1.3 million and 34 jobs. . In Ocean County last year, among the plant's $7.7 million in purchases were $83,000 worth of lubricating oil and grease; $31,000 in equipment rentals; and $90,000 in maintenance and repair work at outside facilities. Oyster Creek produced 5 billion kilowatt hours of electricity in 2003, about 9 percent of New Jersey's electrical consumption. AmerGen announced Feb. 19 that it intends to seek a 20-year license extension for the plant, allowing it to operate until 2029. The current operating license expires in 2009. "This report gives all of us a better understanding of the positive economic impact our continued safe operations and our employees have in Ocean County and the communities around the plant," Oyster Creek Vice President Bud Swenson said. "We like being a part of this community, and we want to continue to be a part of it for many more years." AmerGen is a wholly owned Exelon company. Exelon Corporation is one of the nation's largest electric utilities with approximately five 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 five million customers in Illinois and Pennsylvania and gas to 425,000 customers in the Philadelphia area. The company also has holdings in such competitive businesses as energy, infrastructure services and energy services. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.