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Forecast 2022: West Texas Energy Consortium boomsForecast 2022: West Texas Energy Consortium boomshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=33072014-08-21T07:02:00Z2014-08-21T00:00:00Z

WEST TEXAS - The Center for Community and Business Research at The University of Texas of San Antonio’s Institute for Economic Development has determined the economic impact of oil and gas activities in the West Texas Energy Consortium (WTXEC).

WTXEC is organized by workforce solutions boards in the Concho Valley, West Central Texas, and the Permian Basin.

The ten-county core study area includes Fisher, Glasscock, Howard, Irion, Martin, Mitchell, Nolan, Reagan, Scurry, and Sterling counties. In 2012, the oil and gas industry in the ten core counties is estimated to have had a total impact of $14.5 billion, supported 21,450 full-time-equivalent (FTE) jobs, generated revenues of $446 million for the local governments and $472 million for the state government.

The total impact of oil and gas industry activity in the ten core counties in 2022 is forecast to be more than $20 billion in the moderate scenario, with 30,540 jobs anticipated, and revenues of $664 million for the local governments and $701 million for the state government.

Additionally, a secondary study was conducted on Brown, Coke, Coleman, Runnels, Taylor, and Tom Green counties, which neighbor the core study area.

The economic output of the six neighboring counties are forecast to grow significantly over the period between 2012 and 2022. Forecasts show that Tom Green ($148.5 million), Taylor ($80.8 million), and Runnels County ($12.9 million) will continue to have the largest economic output in 2022.

See the Center for Community and Business Research’s full report.

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