(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:
"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.
Throughout the summer, UTSA offers more than 60 camps in science, engineering, architecture, sports, music, writing, language, culture and more.
Various locations, Main and Downtown Campuses
Chat with members of the Downtown Campus Initiative Task Force about changes taking place as the Downtown Campus grows and transforms to offer a comprehensive living and learning experience. Table topics will include curriculum changes, orientation updates, transportation, food and living options.
Frio Street Building Commons Area, Downtown Campus
UTSA and the San Antonio Express-News will jointly host this town hall meeting to discuss Unequal Justice in Bexar County and in Texas.
Buena Vista Street Building Theater (BVB 1.326), Downtown Campus
Experience a fun, interactive week at UTSA as new students and their families take the first steps to becoming a Roadrunner.
Various locations, Main Campus and Downtown Campuses
Finance and Budget Modeling Task Force presents a panel presentation of experts from 4 universities with experience in incentive-based budgeting. All UTSA campus community is invited to attend and be informed about budgeting processes.
Business Building Richard Liu Auditorium (BB 2.01.02), Main Campus
This event showcases the work of trainees, faculty, staff and students from multiple disciplines and public health agencies across San Antonio.
H-E-B Student Union Ballroom (HSU 1.104), Main Campus
This exhibit highlights the UTSA Special Collections, which includes historic photographs from Texas, San Antonio and UTSA history.
UTSA Institute of Texan Cultures, Hemisfair Campus
Come learn about the benefits available before the enrollment period July 15-31.
Business Building University Room (BB 2.06.04), Main Campus
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