(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 Spring Research Conference offers graduate and undergraduate students pursuing majors in the College of Liberal and Fine Arts the opportunity to present their original work in a forum of interested and critically engaged minds that is at the same time welcoming and inclusive.
Various locations, Main Campus
Mimi Marziani, executive director of the Texas Civil Rights Project, will speak about civil rights advocacy, political campaigns, election law and nonprofit management.
SAWS Headquarters, 2800 U.S. Highway 281 North, San Antonio
Join the Center for Military Families for a panel on Politics in the Service of Military Families, featuring Cedric Leighton, David Splitter, Steve Huerta, and the Office of Congressman Henry Cuellar. The event is free and open to the public.
Buena Vista Street Building, Aula Canaria Lecture Hall (BVB 1.328), Downtown Campus
UTSA Dance classes will take the stage and share their talents and passion for dance! Come support our growing dance program! $10 admission
Buena Vista Street Building Theater (BVB 1.326), Downtown Campus
This panel presentation will look at the history of the YWCA and the impact the organization has had on women in the San Antonio community.
McKinney Humanities Building (MH 2.02.10), Main Campus
The Demography Lecture Series continues with Dr. Barbara Bird of American University. Her topic focuses on Insights Into a Hard to Find Population: Latino Entrepreneurs in Metro Washington, D.C. Event is free and open to the public. Parking is available in the pay stall spaces of the Monterrey surface lot.
Monterrey Building (MNT 3.240), Downtown Campus
This video tells the story of four Latina lesbians who fought for exoneration after being wrongfully convicted of sexually assaulting two girls during the Satanic Panic witch-hunt era of the 1980s and 1990s.
North Paseo Building (NPB 1.114), Main Campus
Tejana/Indígena author Ire'ne Lara Ailva will read from her latest work and discuss her approach to reimagining Tejan@ myths.
Main Building (MB 2.404), 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.
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