(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 UTSA East Asia Institute hosts District 8 City Councilman Ron Nirenberg who will discuss his recent trip to China for the 8th annual Sister Cities International forum. He will discuss how these conversations help citizens connect in an increasingly global world to exchange ideas and tackle issues affecting all of us.
University Center, Denman Room (UC 2.01.28), Main Campus
Antonio Petrov, assistant professor in the UTSA College of Architecture, Construction and Planning, invites San Antonio to engage in dialogue to gather a broad understanding of Puro. he symposium, which includes UTSA masters students, will be led by community members who embody the term. It's free and open to the public.
Brick at Blue Star Arts Complex, Bldg. 108, 1414 S. Alamo St., San Antonio
Dr. Gaye Theresa Johnson, associate professor of Chicana and Chicano Studies, and African American Studies, at the University of California at Los Angeles is the guest speaker at this free, open event. Johnson is also the author of "Spaces of Conflict Sounds of Solidarity: Music, Race, and Spacial Entitlement in Los Angeles" and "Futures of Black Radicalism."
University Center, Denman Room (UC 02.01.28), Main Campus
The UTSA Consortium for Social Transformation; African American Studies Program presents guest speaker Dr. Gaye Theresa Johnson, associate professor of Chicana and Chicano Studies, and African American Studies, University of California at Los Angelesand author of "Spaces of Conflict Sounds of Solidarity: Music, Race, and Spacial Entitlement in Los Angeles" and "Futures of Black Radicalism." The event is free and open to the public.
University Center, Denman Room (UC 2.01.28), Main Campus
Grab your friends, family, kids and dog for this annual fun run on the UTSA Main Campus benefititng the UTSA Alumni Association.
Convocation Center, Main Campus
Join the Department of Interdisciplinary Learning and Teaching for the 13th annual Storytelling Festival. The festival will feature keynote speaker Carolina Quiroga-Stultz, a Colombian Storyteller and journalist. This event is free and open to the public.
Main Building, ground floor, Main Campus
The IDS Colloquium showcases the excellent scholarship done by the IDS students in the College of Education and Human Development at UTSA. In addition, this event also honors the legacy of Dr. Marian Martinello.
Business Building, University Room (BB 2.06.04), Main Campus
The Department of Biology and the Be the Match Team will collaborate to engage and educate our students in the importance of a life saving donation through peripheral blood stem cells and a marrow harvest.
UC Paseo and Central Plaza, Main Campus
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.