(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 events are a collaborative effort between student organizations, student led-groups, and campus departments.
Various locations, Main and Downtown Campuses
UTSA is a designated early voting site for the May 4 Joint, General and Special Election. Any registered Bexar County voter can skip the lines and cast a ballot at UTSA from Monday, April 22 to Tuesday, April 30.
H-E-B Student Union (HSU 1.002), Main Campus
Help our South Texas neighbors by supporting area charitable organizations. Your $6 includes 2 sausage wraps, chips and a drink and helps others less fortunate.
Sombrilla Plaza, Main Campus
The Campus Master Plan task force and Page consultants will share the initial draft of the master plan.
Student Union Retama Auditorium (SU 2.02.02), Main Campus
The Campus Master Plan task force and Page consultants will hold a series of meetings in late April and early May to share the initial draft of the master plan.
Buena Vista Street Building Aula Canaria (BVB 1.328), Downtown Campus
In this UTSA 50th anniversary speaker series, Roger Enriquez, UTSA associate professor of criminal justice, explores how immigration past and present helps us understand its future.
Casa Hernán, 411 Cevallos St., San Antonio
An evening of fine food and drink inspired by UTSA’s renowned Mexican Cookbook Collection. Proceeds from the event will support UTSA’s Mexican Cookbook Collection.
Hotel Emma, 136 E Grayson St., San Antonio
Grab a friend and sign up to bowl with fellow Roadrunners and raise money for scholarships.
University Bowl, 12332 I-10 #10, San Antonio
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