updated 9/7/2010 6:45:57 AM ET 2010-09-07T10:45:57

BOISE, Idaho, Sept. 3, 2010 (GLOBE NEWSWIRE) -- Today's jobs report from the U.S. Dept. of Labor continues to highlight the need for U.S private sector job growth.

"But there is an excellent way to create millions of high-paying jobs," says Don Gillispie, CEO of Alternate Energy Holdings, Inc (OTCBB:AEHI). "Build new nuclear plants."

Gillispie has the experience and numbers to back up his statement. He is a 45-year veteran of the nuclear industry. Now his company is on track to build two big plants in Payette County, Idaho. He expects approval from the county and state by the end of the year.

The plants will take about five years to build, directly employing more than 5,000 workers during that time. And since nuclear plants need hundreds of thousands of tons of concrete, more than 30,000 tons of steel, and countless specialized parts from a giant chain of suppliers, the total number of jobs created by the plants will actually be in the tens of thousands.

Now imagine ten or so such projects around the country, says Gillispie. "That would create close to a million jobs." Nuclear power could singlehandedly make a sizable dent in the nation's unemployment rate, dropping it below 9%. "The nuclear industry is the greatest job creator we have in the country today," says Gillispie. After construction is finished, new dual unit plants would offer about 1,000 permanent well-paying jobs per project with another 2,000 or so indirect jobs.

The nation as a whole benefits from the increased number of workers earning wages and paying taxes. And in the regions where new plants are built, the economic impacts would be enormous. Payette County, for instance, now has an unemployment rate higher than Idaho's average and faces a budget shortfall of $500,000. If construction goes forward, Gillispie's plants will drop the unemployment rate to one of the lowest in the country, and add $100 million per year to county tax revenue. The project will also bring billions to the state of Idaho. "It will be huge boon to the area—and to the country," says Gillispie.

Building nuclear plants brings benefits over and beyond new jobs. The industry produces reliable and clean electricity, without the threat of pollution, oil spills, and other environmental damage.

But today's job report is another sobering reminder of how long lasting the economic crisis has become—and how valuable the nuclear industry can be to pulling the nation out of its slump.

About Alternate Energy Holdings, Inc. (http://www.AlternateEnergyHoldings.com) -- Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral(TM), which removes energy demands from homes and businesses (http://www.EnergyNeutralinc.com) Colorado Energy Park (nuclear and solar generation), and Green World Water(TM), which assists developing countries with nuclear reactors for power generation (http://www.GreenWorld-H2O.com), production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power.

Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "expect," "anticipate," "project," "target," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events, including our ability to list on a national securities exchange. These statements are based on the beliefs of our management as well as assumptions made by and information currently available to us and reflect our current view concerning future events. As such, they are subject to risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: our significant operating losses; our limited operating history; uncertainty of capital resources; the speculative nature of our business; our ability to successfully implement new strategies; present and possible future governmental regulations; operating hazards; competition; the loss of key personnel; any of the factors in the "Risk Factors" section of our Annual Report on Form 10-K for the most recently completed fiscal year; and any statements of assumptions underlying any of the foregoing. You should also carefully review the reports that we file with the SEC. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law.

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