Thursday, July 30, 2015

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

Share this Story

(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.

 

 

Did You Know?

Sometimes you have to see the little picture

UTSA researchers are exploring matter at the atomic level with Helenita. It's one of the most powerful microscopes in the world, with the ability to operate near the theoretical limit of resolution. At 9 feet, 2 inches tall and weighing more than two tons, Helenita can dissect almost anything. With Helenita's resolution, researchers can study particles atom by atom to see how they behave.

That's critical in developing nanotechnology that will help diagnosis early-stage breast cancer or make helmets that are uber strong. Moreover, the detail that Helenita provides will allow nanotechnology researchers to create new therapies and treatments to fight a wide range of human diseases.

Did you know? Helenita can magnify a sample 20 million times its size, which would make a strand of human hair the size of San Antonio.

Read More »
Events
July 30, 5 - 7 p.m.

Networking and happy hour with AIA San Antonio's Women in Architecture

Join AIA San Antonio’s Women in Architecture group for their networking and happy hour event, where all design professionals are welcome.
Liberty Bar, 1111 S. Alamo St.

Aug. 1, 9 p.m.

"Inside Peace" documentary screening

This documentary, presented by the San Antonio Film Festival, documents the experience of re-entry after incarceration. The film features Michael Gilbert, associate professor in the department of criminal justice and director of the Office of Community and Restorative Justice program at UTSA.
Tobin Center for the Performing Arts, 100 Auditorium Circle

Aug. 4, 6 - 8 p.m.

Free Teacher Tuesday: Los Tejanos Workshop

Discover resources and strategies for teaching Tejano history and culture and get a special educator's tour of the new long-term exhibit, Los Tejanos.
Institute of Texan Cultures, 801 E. César E. Chávez Blvd.

Aug. 9, 12 - 5 p.m.

Vaquerocation 2015

This cowboy-themed programming, offered in conjunction with Our Kids Magazine's Kidcation Week, gives families the opportunity to visit with cowboy docents, enjoy readings and visit activity tables.
Institute of Texan Cultures, 801 E. Cesar E. Chavez Blvd.

Aug. 22, 6 p.m.

UTSA Alumni Gala

The UTSA Alumni Association hosts this annual gala honoring the Alumna of the Year, Alumnus of the Year and the Alumnus of the Year Lifetime Achievement award winners.
Hyatt Regency Hill Country Resort & Spa, 9800 Hyatt Resort Dr.


Other Calendars
» UTSA Events | » Academic | » Institute of Texan Cultures

Submit an Event


Meet a Roadrunner

Julian Acosta '12 is a musician with business cred

After graduation, Queretaro native founded a music label recognized by SXSW

UTSA's Mission

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.

UTSA's Vision

To be a premier public research university, providing access to educational excellence and preparing citizen leaders for the global environment.

UTSA's Core Values

We encourage an environment of dialogue and discovery, where integrity, excellence, inclusiveness, respect, collaboration and innovation are fostered.

Connect with UTSA News

       


Related Links

Back to Top