Tuesday, September 17, 2013
Ongoing research at the University of Texas at San Antonio’s Institute for Economic Development (UTSA) is serving as the preeminent resource to state and local officials in forecasting the evolving economic impact of the Eagle Ford Shale. Eagle Ford is a 50-mile-wide by 400-mile long formation running from South Texas to the east. The formation produces natural gas, condensate, oil, and natural gas liquids with margins more favorable than other shale plays.
In its most recent study, UTSA forecasts that development of oil and natural gas in the Eagle Ford Shale added more than $61 billion in total economic impact across a 20-county region in central and South Texas during 2012. In addition, it supported 116,000 jobs. In 2011, UTSA reported the region generated $25 billion in economic impact and supported 117,000 jobs. The study projects that the region will support 127,000 jobs and produce an economic impact of $89 billion for Texas in 2022.
“The research conducted at UTSA provides us with valuable information, findings, and recommendations related to the Eagle Ford Shale and its impact on Texas’ economy,” said Sen. Judith Zaffirini (D-Laredo). “This research is a wonderful resource, not only for state policymakers and business leaders, but also for all stakeholders who are working to create sustainable communities throughout the shale region. Equally important, it underscores the critical role of the higher education community in public services and economic development.”
“One of the key indicators of a Tier One university is its contribution to society,” said UTSA president Ricardo Romo. “The Institute for Economic Development has taken a leading role in assessing the impact of the Eagle Ford Shale. Its work is another example of UTSA’s commitment to become a top-tier research institution.”
In its most recent study, UTSA forecasts that development of oil and natural gas in the Eagle Ford Shale added more than $61 billion in total economic impact across a 20-county region in central and South Texas during 2012. In addition, it supported 116,000 jobs. In 2011, UTSA reported the region generated $25 billion in economic impact and supported 117,000 jobs. The study projects that the region will support 127,000 jobs and produce an economic impact of $89 billion for Texas in 2022.
“The research conducted at UTSA provides us with valuable information, findings, and recommendations related to the Eagle Ford Shale and its impact on Texas’ economy,” said Sen. Judith Zaffirini (D-Laredo). “This research is a wonderful resource, not only for state policymakers and business leaders, but also for all stakeholders who are working to create sustainable communities throughout the shale region. Equally important, it underscores the critical role of the higher education community in public services and economic development.”
“One of the key indicators of a Tier One university is its contribution to society,” said UTSA president Ricardo Romo. “The Institute for Economic Development has taken a leading role in assessing the impact of the Eagle Ford Shale. Its work is another example of UTSA’s commitment to become a top-tier research institution.”
