Based on the hierarchical control structure, optimization and control problems of largeâscale and multivariate plants are solved sequentially. The economic performance of the plant plays an essential role in the plantâwide modern industry. The optimal operating conditions will change as the economic criteria changes throughout the operation of the plant as the result of variations in raw material prices, product prices, production demand, market fluctuations, disturbances, and so forth. In reality, soft constraints are frequently used to denote the production requirements of various operating conditions. In order to improve economic performance and guarantee feasibility for the entire plant operation, a novel economic model predictive control (EMPC) strategy is proposed to control the constrained multiâvariable process system with varying economic performance criteria under soft constraints. By incorporating the transient steadyâstate and two categories of slack variables for soft constraints, a modified economic performance index is optimized to cope with the changing criteria. In addition, a contractive constraint is added to the closedâloop system to guarantee stability for nonâdissipative stage costs. This approach ensures recursive feasibility and asymptotic stability. The effectiveness of the proposed method is demonstrated by numerical examples and the fluid catalytic cracking unit (FCCU) process.