(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.
Roadrunners unite as we ring in the Coach Frank Wilson era. There will be raffle prizes, giveaways and a tailgating competition among UTSA Football tailgate groups. Meet your 2016 Roadrunners football team, get autographs, and meet Coach Wilson.
Convocation Center, Main Campus
All current registered student organizations are invited and encouraged to participate in the Showcase which allows all new students an opportunity to learn more about the involvement opportunities and student life at UTSA.
University Center Lawn, Main Campus
Hang out with your friends for an encore showing of Captain America: Civil War.
University Center Denman Room, Main Campus
Come enjoy a free brunch and listen to wonderful Jazz music as we mark the end of a successful Roadrunner Days 2016.
H-E-B University Center Ballroom, Main Campus
District 8 Councilman Ron Nirenberg and State Sen. José Menéndez host a Cultural Conversations event at the UTSA Institute of Texan Cultures to talk about issues of intolerance and ways to unify the community.
UTSA Institute of Texan Cultures
Known for her unique ability to make sophisticated numbers reveal simple truths, Talithia Williams explores how big data can be used to make smart decisions in education, business, and everyday situations.
Main Building Auditorium, MB 0.104, Main Campus
The UTSA International Conference on Aging inthe Americas seeks to address the important context in understanding how characteristics of physical, social and economic environments give rise to disparities in Latino health in older adults.
UTSA Downtown Campus, Durango Bldg. Southwest Room (DB 1.124)
UTSA Mexico Center director Dr. Harriett Romo and program coordinator Olivia Mogollon, along with U.S. and Mexican scholars discuss migration between Mexico and the U.S. during this panel presentation.
UTSA Institute of Texan Cultures
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.