(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.
The annual Center for Innovation, Technology and Entrepreneurship (CITE) 100K Venture Competition and Exposition will be held on the Main Campus on Dec. 1. Twenty-eight teams from across the university will exhibit their project; six teams will compete for a prize pool of more than $100,000 in funding to launch their new venture / company. More than 650 students have participated in launching new technology ventures.
Biotechnology, Sciences and Engineering (BSE 2.102), Main Campus
This concert features 50 community children performing music in the UTSA Downtown String Project Winter Concert. The children, led by UTSA music students studying to be music teachers, will join together in playing the Theme from Batman at their concert. The Batman of San Antonio, a local celebrity figure, will make an appearance at the concert. This event is free.
Buena Vista Theatre, Downtown Campus
Graduate student uses storytelling to highlight important issues facing children
As touch screens and e-books demand more and more attention from both casual readers and scholars, many people say the handwriting is on the wall for the printed page.
At UTSA, the handwriting is on the wall for a library that doesn't have any printed books.
Since March 2010, the bookless library in the Applied Engineering and Technology Building has given UTSA students an innovative way to read, research and work with each other to solve problems.
With ultra-modern furniture and a décor featuring desktop computers, scanners and LCD screens, the AET Library is designed to engage students in an online format. But it also offers group study niches and study rooms with whiteboards and glass walls on which students can write. The space encourages teamwork, communications and problem solving for the next generation of scientists and professional engineers.
Did you know? The UTSA AET Library is the nation's first completely bookless library on a college or university campus. It served as a model for Bexar County's first-in-the-nation public bookless library system and one of its branches, the Dr. Ricardo Romo BiblioTech.
The University of Texas at San Antonio is dedicated to the advancement of knowledge through research and discovery, teaching and learning, community engagement and public service. As an institution of access and excellence, UTSA embraces multicultural traditions and serves as a center for intellectual and creative resources as well as a catalyst for socioeconomic development and the commercialization of intellectual property - for Texas, the nation and the world.
To be a premier public research university, providing access to educational excellence and preparing citizen leaders for the global environment.
We encourage an environment of dialogue and discovery, where integrity, excellence, inclusiveness, respect, collaboration and innovation are fostered.