For the third year in a row, Site Selection magazine has named Progress Energy on its list of "Top Utilities for Economic Development." Site Selection's September 2004 issue highlights Progress Energy as one of the nation's top 11 utilities based on jobs created and new capital investments in its service area in 2003.

"In 2003, we were able to help bring thousands of quality jobs and significant capital investments to the communities within our service areas," said Sandy Jordan, vice president of economic development for Progress Energy. "There's no substitute for the positive impact good jobs have on local economies. We are proud of the hard work and collaboration of our staff and many partners in bringing these exciting new opportunities to the communities we serve."

Progress Energy helped to attract 9339 new jobs and more than $694 million in new capital investments to projects in its 50,000-sq. mile service area in the Carolinas and Florida, according to the Site Selection article announcing 2003's Top Utilities. Progress Energy was the only utility in the Carolinas or Florida to receive this distinction.

The Top Utilities list is released annually by the editors of Site Selection magazine, who survey utility companies nationwide to determine the number and type of new and expanded facilities that have located in their service areas, the number of jobs created, the amount of capital investments, and the economic development programs and services that the utilities offer.