Eagle Ford Shale generated more than $25B in revenue for South Texas in 2011
(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:
- Paid $3.1 billion in salaries and benefits to workers,
- Provided more than $12.6 billion in gross regional product,
- Added more than $358 million in state revenues including $120.4 million in severance taxes
- And spurred a triple-digit sales tax revenue increase in various local counties.
"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 virtial event will feature undergraduate student research and creative endeavors from across the university. Students who have participated in research experiences beginning summer 2020 through Spring 2021 are invited to participate.Virtual Event
By participating in this training you will feel more prepared to recognize potential harm on a spectrum, decide how you would respond in certain situations and take action to keep our Roadrunner Community safe.Virtual Event
At UTSA, there are many ways to connect with others, gain relevant career experience, and leave your mark at a world-ranked university. With over 300 student organizations, there’s something for everyone at UTSA. Hear from various UTSA Students Leaders about their life as a Roadrunner and why UTSA is their new home.Virtual Event
This course is offered by UTSA's Employee Assistance Program EAP Deer Oaks. Every new beginning comes from something else ending, and in our ever changing world, it is essential to develop the ability topositively cope with change. This session provides participants with the insight to understand the nature of change and learn how to effectively deal with both the losses and the gains that change brings to one’s life.Virtual Event
On April 28, 2021, millions of people across the world will wear jeans with a purpose, support survivors, and educate themselves and others about all forms of sexual violence. To support this movement our donation drive will be items that we will be putting together to make Care Kits. These Care Kits are for students, faculty and staff to get in case of an emergency and they need to leave the situation they're in ASAP and do not have time to pack.Ximenas Ave Garage
ISD Saturdays are an exclusive opportunity for students at an ISD in San Antonio. Each event will group various districts together for each presentation date or session.Virtual Event
Floor captains play a critical role in emergency preparedness, safety awareness and crime prevention techniques throughout the university. They focus on safety and security initiatives while providing guidance and direction to building occupants. During emergency activations, they assist with required evacuations and reentry, shelter-in-place commands, interface with police and other first responders, and help those who may require assistancer.MyTraining Webinar