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Eagle Ford Shale generated more than $25B in revenue for South Texas in 2011

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(May 9, 2012) -- Development of oil and natural gas in the Eagle Ford Shale contributed $25 billion in total economic output to the region in 2011, according to a study released today by the Center for Community and Business Research at The University of Texas at San Antonio Institute for Economic Development.

"The Eagle Ford Shale has proven to be one of the most important economic engines in the state," said Thomas Tunstall, director of the UTSA Center for Community and Business Research and the study's principal investigator. "In 2011 alone, the play generated over $25 billion in revenue, supported 47,000 full-time jobs in the area and provided $257 million in local government revenue."

The study also concluded that in 2011 shale development:

  • Paid $3.1 billion in salaries and benefits to workers,
  • Provided more than $12.6 billion in gross regional product,
  • Added more than $358 million in state revenues including $120.4 million in severance taxes
  • And spurred a triple-digit sales tax revenue increase in various local counties.

"We view the Eagle Ford activity as an economic opportunity of a lifetime," said Mario Hernandez, president of the San Antonio Economic Development Foundation. "The key goal is the increase in investment and jobs. And if the communities will partner with the private companies that are creating these jobs, it can be a win-win for everybody."

The increased revenue from the Eagle Ford Shale is rebuilding local communities. New schools and new hospitals are being built, and new training programs have been launched to maximize hiring from the local workforce. The study projects the creation of approximately 117,000 full-time jobs by 2021.

"The residents and local leadership of South Texas have taken a proactive and collaborative approach to this new economic opportunity, which we hope demonstrates how communities can embrace, invest and manage this new influx of revenues to ensure long-term regional prosperity," said Leodoro Martinez, executive director for the Middle Rio Grande Development Council and Chairman of the Eagle Ford Consortium."

"Through the Eagle Ford Consortium, Eagle Ford Task Force and other community-industry collaborations, Eagle Ford leaders and residents are working together to develop training programs, enhance local employment opportunities and forge solutions to community issues that maximize the benefits and manage the effects from increased development activity.

The Eagle Ford Shale is a 50-mile-wide by 400-mile-long formation that runs from the southern portion of Texas to the east. The formation produces natural gas, condensate, oil and natural gas liquids with margins more favorable than other shale plays. The study assessed the economic impact of the Eagle Ford Shale on the 14 counties currently producing oil and natural gas from the formation, as well as the six surrounding counties indirectly involved in its development.

The UTSA Institute for Economic Development Center for Community and Business Research conducts primary research on community and business development in South Texas and the Border Region. For more information, visit the IED Center for Community and Business Research website.

>> Download UTSA's Eagle Ford Shale study.

 

 

Events

Tuesday, May 3, 5 p.m.

Henry B. Gonzalez Centennial Tribute

The College of Public Policy and the Office for Community Services present a 100th anniversary salute to the late Congressman Henry B. Gonzalez. A distinguished panel will discuss Gonzalez's historical impact. Free and open to the public.
Aula Canaria Lecture Hall (BV 1.328) , Downtown Campus

Wednesday, May 4, 5 p.m.

School Psychology Symposium and Reception

Student posters will present case studies based on practicum experiences, literature reviews on topics relevant to educational psychology, and other research experiences this year. The event is free and open to the public.
Durango Building (1.124), Downtown Campus

Thursday, May 5, 5 p.m.

String Project Spring Concert

This end-of-semester concert will feature the 3rd through 8th grade students who have participated in the UTSA String Project this year. The event is free and open to the public.
Buena Vista Theater, Downtown Campus

Monday, May 9, 8 a.m.

The Honeynet Project Workshop

This three-day event will focus on the tools, tactics and motives involved in computer and network attacks. Attendees from around the world will take part in world-class hands-on trainings and technical discussions.
H-E-B University Center Ballroom, Main Campus

Thursday, May 12, 4 p.m.

Master of Public Administration Open House

Visit with faculty, alumni and students to discuss the benefits of and requirements for a Master Degree in Public Administration and/or the Graduate Certificate in Nonprofit Administration & Leadership
Buena Vista Building (1.338), Downtown Campus

Saturday, May 14, 10 a.m.

UTSA Spring Commencement: Ceremony One

UTSA Spring Commencement ceremony for the College of Architecture, Construction and Planning, the College of Education and Human Development and the College of Sciences.
Alamodome

Saturday, May 14, 4 p.m.

UTSA Spring Commencement: Ceremony Two

UTSA Spring Commencement ceremony for the College of Business, the College of Public Policy and University College.
Alamodome

Sunday, May 15, 2 p.m.

UTSA Spring Commencement: Ceremony Three

UTSA Spring Commencement ceremony for the College of Engineering and the College of Liberal and Fine Arts.
Alamodome

Wednesday, May 18, 3 p.m.

The Great Staff Appreciation Event

The UTSA community is invited to honor the roughly 2,600 UTSA staff members who contribute to the success of the university and its students.
University Center Ballroom, Main Campus

Thursday, May 19, 6 p.m.

Superintendent Certification Program Information Session

Join UTSA faculty and staff, current students, and area central office administrators/program alumni to learn about this exciting accelerated and web-enhanced program leading to Texas Superintendent Certification. The event is free and open to the public.
Buena Vista Building (1.322), Downtown Campus


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