Exelon: Slate of projects to stoke job creation

CHICAGO

Exelon Corp. said Monday it will launch a $4.6 billion power plant overhaul that will create more than 4,200 jobs over the next five years across Illinois.

The slate of 101 projects includes the decommissioning of the Zion Station, which is located about 40 miles north of Chicago, equipment upgrades at six Illinois nuclear plants and refueling outages that require thousands of temporary workers, the company said.

"This is our own economic stimulus program for Illinois," said Michael Pacilio, Exelon's chief nuclear officer and president.

The utility said the jobs would be full time or "full-time equivalent," meaning a job that adds up to 2,080 work hours a year. Several part-time jobs and temporary positions can equal one full-time equivalent job, the company said.

The Zion station decommissioning begins next month and is projected to cost $1 billion and take 10 years to complete. Exelon expects the project will require 200 workers a year, on average, peaking at 400.

Exelon shares added 35 cents to $40.76 in afternoon trading.