Marcellus Shale will bring 212,000 jobs. “By 2020, the Marcellus Shale natural gas industry will have created or supported 212,000 Pennsylvania jobs, according to a Penn State projection released Tuesday and paid for by the industry. “The Economic Impacts of the Pennsylvania Marcellus Shale Natural Gas Play: An Update,” revises some of the projections made last summer by Penn State’s College of Earth and Mineral Sciences. … The new study now forecasts that by the end of 2010 there will be up to 88,000 jobs created in Pennsylvania by the Marcellus Shale play … Kathryn Klaber, said, “Last year alone, Marcellus producers paid more than $1.7 billion to landowners across the state, and spent more than $4.5 billion total to make these resources available. By the end of this year, that number is expected to double.” (Pittsburgh Post-Gazette, 5/25/10)
Marcellus Shale to add $20 billion to Pa. by 2020: “The economic impact of the Marcellus Shale may top $20 billion and 200,000 new jobs by 2020, according to a new study commissioned and funded by the Marcellus Shale Coalition, an industry group. “Our estimates suggest that in 2020 the Marcellus industry in Pennsylvania could be creating more than $18 billion in value added, generating more than $1.8 billion in state and local tax revenues, and supporting more than 200,000 jobs,” the study’s authors, professors in the Department of Energy and Mineral Engineering and the College of Earth and Mineral Sciences at Penn State University, wrote in this year’s update to a similar report put out in 2009.” (Pittsburgh Business Times, 5/25/10)
State Rep. Solobay: “Industry has kept all of the promises by creating economic opportunities”: “Members of the Marcellus Shale Coalition joined together today with Penn State and Rep. Timothy Solobay (D-Washington) to release their annual report on the economic impact of drilling in the Marcellus Shale reserve. Kathryn Klaber, President of the Marcellus Shale Coalition, began saying the Marcellus Shale reserves are “a bright spot in the midst of our challenging economic times.” … Rep. Solobay commented his district in the Southwestern PA is the epicenter of Marcellus Shale activity. He said the industry has kept all of the promises made last year by creating economic opportunities in the state. He quickly added the state has barely scratched the surface of these opportunities. According to the Representative, antiquated regulations and legislation has to be fixed which will help this industry create new jobs, generate more economic opportunities.” (Pennsylvania Legislative Services, 5/25/10)
Study boosts Shale’s fiscal pluses for PA?: “Development of the Marcellus Shale has the potential to create more than 200,000 jobs in Pennsylvania during the next 10 years, according to an update to a Penn State University study released on Monday. … “At a time when more than half-a-million people in Pennsylvania are currently out of work, the release of this updated report from Penn State … confirms the critical role that responsible energy development in the commonwealth can play in substantially, perhaps even permanently, reversing that trend,” Kathryn Klaber, president and executive director of the Marcellus Shale Coalition, said in a press release. “ (Wilkes Barre Times-Leader, 5/25/10)
There’s no question the Marcellus boom is having an economic impact in PA. “That position was bolstered Tuesday morning with the release of a Penn State University study that said imposing a tax on natural-gas extraction could make Pennsylvania less competitive and reduce the economic benefits of drilling. There’s no question the Marcellus boom is having an economic impact in Pennsylvania, including the midstate. Dura-Bond recently signed a $30 million contract with Dominion Transmission for 110 miles of steel pipe, which will be manufactured at the company’s Steelton facility. Rail systems throughout the state are undergoing upgrades, anticipating a natural-gas boom. … And it predicts the creation of 111,000 jobs — in all sectors — by 2011 as a result of Marcellus money circulating through the general economy.” (Patriot-News, 5/25/10)
Study backs drilling’s financial impact: “Marcellus Shale natural gas production could create more than 200,000 jobs and have an $18 billion economic impact in Pennsylvania by 2020, according to an industry-financed study released Tuesday. The study was conducted by three professors affiliated with Penn State University’s Department of Energy and Mineral Engineering and commissioned by the Marcellus Shale Coalition. … They estimate the number of jobs created by the industry will exceed 88,000 by 2010 … “At a time when more than half-a-million people in Pennsylvania are currently out of work, the release of this updated report from Penn State today confirms the critical role that responsible energy development in the commonwealth can play in substantially, perhaps even permanently, reversing that trend,” Kathryn Klaber, president of the Marcellus Shale Coalition.” (Citizens Voice, 5/25/10)
Natural-gas production to “generate more than $8 billion in economic benefits this year”: The Marcellus Shale Coalition on Tuesday released an industry-commissioned study that projects natural-gas drilling could generate more than $8 billion in economic benefits this year and add more than 88,000 jobs in the state – double the numbers it says were created last year. But the industry study, by Pennsylvania State University’s Department of Energy and Mineral Engineering, asserts that a proposed severance tax on natural-gas production could snuff out the boom. “The imposition of any significant severance tax on Marcellus natural-gas output could induce a redirection of investment flows to other shale plays,” said the authors of the study, presented Tuesday at the Capitol Rotunda in Harrisburg.” (Philadelphia Inquirer, 5/25/10)
Marcellus Shale Coalition highlights the 200000+ jobs being created: “The development of clean-burning natural gas in Pennsylvania’s portion of the Marcellus Shale has the potential to create an additional 212,000 new jobs over the next 10 years on top of the thousands already being generated all across the Commonwealth, according to a study released by the Marcellus Shale Coalition (MSC). The study says just the next 18 months, these activities are slated to create more than $1.8 billion in state and local tax revenues.” (Pocono News, 5/25/10)
Marcellus development could revamp Pa. economy: “Fully developed, the Marcellus Shale has the potential to be the world’s second-largest natural gas field in the world, and its economic impact on Pennsylvania stands to be substantial, according to a new industry-backed study. The study prepared by researchers at the Pennsylvania State University and the University of Wyoming says Marcellus producers generated $3.9 billion in value added and created more than 44,000 jobs. … “In Pennsylvania, the development of these historic resources, while still in its infant stages, is credited with the creation of thousands of jobs and billions in annual revenue for the states,” the report says.” (E&E News, 5/24/10)
Shale Could Fuel 212000 New Jobs in PA: “The natural gas repository found in Pennsylvania’s portion of the Marcellus Shale has the potential to create 212,000 new jobs over the next 10 years on top of the thousands already being generated all across the Commonwealth, estimates a study released Tuesday by researchers at Penn State University. Over just the next 18 months, these activities will create more than $1.8 billion in tax revenue for Pennsylvania and local government entities, the study finds. “At a time when more than 500,000 people in Pennsylvania are out of work, the release of this updated report from Penn State confirms the critical role that responsible energy development in the commonwealth can play in substantially, perhaps even permanently, reversing that trend,” said Kathryn Klaber, president and executive director of the Marcellus Shale Coalition.” (Youngstown Business Journal, 5/25/10)
Marcellus Shale boosts economy; new job opportunities soar: “According to a study conducted by energy professors at Penn State University, the Marcellus Shale is pumping billions of dollars into the state’s economy while providing tens of thousands of jobs. … While development of the Marcellus Shale is still in its infancy, the number of jobs created from the natural gas play is in the thousands. Furthermore, the state is able to collect billions of dollars in annual revenues. The development of this shale affects the economy both by business-to-business spending and through royalties paid to landowners.” (PennEnergy, 5/25/10)
NOTE: Click HERE to view this study online.
