ComEd Receives National Recognition for Impact on Economic Development

Rhea-AI Summary

ComEd has been recognized by Site Selection magazine as one of the top utilities in economic development, ranking in the top one percent of more than 3,300 electric companies nationwide. In 2020, ComEd's infrastructure improvements generated $2.7 billion in investments and created 6,400 jobs. The company's initiatives, including fleet electrification, workforce training, and renewable energy solutions, have played a pivotal role in attracting new businesses to Illinois. This marks the eighth time ComEd has achieved this recognition.

Positive

• ComEd generated $2.7 billion in investments and created 6,400 jobs in 2020.
• Ranked in the top one percent of utilities for economic development by Site Selection magazine.
• Infrastructure improvements enhance reliability and attract new industries, including data centers.
• Established workforce training programs with a 25% job placement rate for trainees.
• Received 180 distributed generation rebate applications, totaling $33.6 million in rebates.

Negative

• None.

Ranked in the top one percent of utilities across the United States, ComEd made infrastructure improvements that helped attract $2.7 billion in investment and create 6,400 new jobs

CHICAGO--(BUSINESS WIRE)-- In recognition of ComEd's contribution to economic growth and job creation across the northern Illinois communities it serves, Site Selection magazine named the energy company to its annual list of Top 20 utilities in economic development. Selected from more than 3,300 electric companies across the country, ComEd is among the top one percent of all utilities in attracting new businesses, jobs and investments.

In 2020, infrastructure projects designed to improve and modernize the power grid created an additional $2.7 billion in spending and 6,400 jobs. Further, ComEd’s grid investments are creating the infrastructure required to support new, job-generating industries like data centers.

“ComEd is committed to transforming more than just the power grid,” said Diana Sharpe, vice president of economic and workforce development at ComEd. “Our infrastructure improvements have been recognized for spurring much-needed investment and life-transforming jobs in the in the communities we serve.”

In recognizing the energy company, the magazine cites actions taken by ComEd that are key factors in creating jobs and attracting new businesses to Illinois, including:

• Industry-leading reliability. Since 2012, ComEd has made investments in the grid that have helped it withstand more frequent severe weather associated with climate change and avoid more than 16 million customer interruptions by automatically rerouting power around problem areas.
• Fleet electrification. ComEd plans to electrify 30 percent of its vehicle fleet by 2025 and 50 percent by 2030.
• Workforce training. ComEd job training programs resulted in approximately 1,690 trainees completing the Craft Apprenticeship Program, Solar Pipeline and Multicultural programs with 25 percent securing jobs.
• Renewable energy solutions. Through the Future Energy Jobs Act enacted in 2016, ComEd commercial and industrial customers can apply for distributed generation (DG) rebates designed to reduce up-front installation costs for renewable energy and spur renewable development. ComEd has received 180 DG rebate applications this year and paid rebates of $33.6 million. In August, the company also placed its fiftieth community solar project in service. Each project serves homeowner, renter and business subscribers who receive bill credits for their portion of the energy produced by the community solar farm.

“Illinois’ low and stable power prices, industry-leading reliability performance and clean energy solutions are critical components we leverage to drive economic growth, business development and job creation in the region,” said Paulina San Millan, vice president of business development at Illinois economic development organization Intersect Illinois. “We value the proactive, positive and prompt collaboration that ComEd’s high performing economic development team provides, and this recognition reinforces why they are such an important developmental asset and partner for Illinois.”

“We applaud Site Selection magazine’s recognition of ComEd as a top utility in economic development,” said Mark Goode, founding principal at developer Venture One Real Estate. “Venture One Real Estate values our relationship with the ComEd team and our collaborative efforts to drive investment, create jobs and grow the Illinois economy.”

This is the eighth time ComEd has been recognized as a top utility in economic development by Site Selection magazine. To read the full article, visit siteselection.com/issues/2021/sep/unstoppable-this-year-s-top-utilities.cfm.

Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210903005303/en/

ComEd Media Relations

312-394-3500

Source: ComEd

FAQ

What recognition did ComEd recently receive related to economic development?

ComEd was ranked in the top one percent of utilities for economic development by Site Selection magazine.

How much investment did ComEd attract in 2020?

ComEd attracted $2.7 billion in investment in 2020.

How many jobs were created by ComEd's infrastructure improvements?

ComEd's infrastructure improvements created 6,400 jobs.

What sustainable initiative is ComEd planning for its vehicle fleet?

ComEd plans to electrify 30% of its vehicle fleet by 2025 and 50% by 2030.

How many distributed generation rebate applications did ComEd receive?

ComEd received 180 distributed generation rebate applications this year.