{{titleBar.title}}

{{titleBar.tagline}}

 

 

Eagle Ford Shale creates $61 billion impactEagle Ford Shale creates $61 billion impacthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=78372013-03-28T11:54:00Z2013-03-28T00:00:00Z

WEBB COUNTY - The University of Texas at San Antonio’s(UTSA) latest study on the economic impact of the Eagle Ford Shale oil and gas play shows a 20-county area, including Webb, generated about $61 billion in economic impact in 2012 and about 116,000 jobs.

In 2011, the economic impact was about $25.5 billion. At that time, 88 active oil and gas wells were in Webb County. In total, county governments impacted by the lucrative fracking industry earned about $1 billion from the oil and gas industry last year.

The study estimates continued growth, with the industry’s economic impact increasing from about $61 billion to almost $90 billion by 2022.

UTSA’s Institute for Economic Development more closely examined the 14 most active counties: Atascosa, Bee, DeWitt, Dimmit, Frio, Gonzalez, Karnes, La Salle, Live Oak, Maverick, McMullen, Webb, Wilson and Zavala.

Other industries are also expected to flourish there in ten years’ time.

An estimated 6,000 workers will provide repair and construction for structures needed to support the industry at that time, the study modestly predicts. The fifth largest industry in those counties is expected to be the food service industry, employing about 4,000 people.

The study also notes Webb County maintained a constant 75 percent occupancy rate at hotels in 2012. Laredo Convention and Visitors Bureau data shows the more dramatic surge in hotel occupancy rates began in about 2009 after a sharp decline.

Laredo Morning Times
Laredo
Economy
http://www.lmtonline.com/articles/2013/03/27/news/doc5152b66e7ee2d210247812.txtRead more at {Source}

 Search NewsTalk Texas