(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.
Come out and meet Dr. Ray Bateman, ARL South Cyber on-site Lead, and Kristin Schweitzer who form the nucleus of ARL South Cyber on our campus. They will give a brief overview of the Army Research Laboratory (ARL) and how it fits within the Army’s hierarchy. Morning session is 11 a.m. to 12 p.m. Afternoon session is 2 p.m. to 3 p.m.
John Peace Library (JPL 4.04.12C), Main Campus
Join the UTSA Master of Social Work Advanced Social Work Methods Policy Practice Advocacy Class for a panel discussion on child care policies and its effect on higher education. Event is free and open to the public. Doors open at 6:30 p.m.
Buena Vista Street Building (BVB 1.322), Downtown Campus
UTSA Associate Dean/Associate Professor Francine Romero will sit down with San Antonio Mayor Ron Nirenberg for a wide-ranging conversation about the Mayor's vision for the City's future. Seating is at capacity but the San Antonio Express-News will stream it live.
Buena Vista Street Building Theater (BVB 1.326), Downtown Campus
The sympoisum will focus on the interface between aging and neurodegenerative diseases, will educate the wider research community about advancements in this fast-paced field and stimulate collaborative research in this area. Register online for this free event.
H-E-B University Center Ballroom (HUC 1.106), Main Campus
The 23rd International Conference on Historical Linguistics is offering four special panels open and free to the San Antonio public July 31-Aug. 3 to mark the tricentennial next year. The event is co-sponsored by UTSA Research.
Hotel Contessa, 306 W. Market St., San Antonio
Orientation marks a major step toward becoming a Roadrunner. It is a unique experience designed to welcome freshmen and transfers to UTSA and ensure a successful transition into college. They will learn about UTSA, prepare for their first semester and have fun meeting other students. There is also a special Family Orientation program too.
Various locations, Main and Downtown Campuses
The UTSA community welcomes students to their on-campus home! Laurel Village, Chaparral Village and Alvarez Hall are home for 2,300 students during the academic year, and Move-In event kicks off the start of Roadrunner Days.
Laurel Village, Chaparral Village, Alvarez Hall, Main Campus
The College of Engineering hosts this seminar featuring Jeff Adams, Southwest Zone Quality Manager, Siemens Building Technologies Division. The event is free and open to the public.
Engineering Building (EB 3.04.30), Main Campus
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