MSC joins the Williamsport/Lycoming Chamber of Commerce and other regional leaders to discuss the benefits of the natural gas impact tax
WILLIAMSPORT, Pa. – Pennsylvania’s unique tax on natural gas, the impact tax, is on track to generate nearly $1.7 billion since 2012, including a record $247 million this year in new revenue that directly benefits communities across the Commonwealth.
With nearly $400 million staying in the 10-county Northeast Pennsylvania region since 2012, the Marcellus Shale Coalition, Williamsport/Lycoming Chamber of Commerce and leaders from across the region gathered in Williamsport today to discuss the significant benefits this tax has delivered to communities and how additional energy taxes threaten those meaningful benefits.
“Pennsylvania’s tax on natural gas – the impact tax – continues to directly benefit community programs, environmental initiatives, public safety improvements and road upgrades in all sixty-seven counties, with more than $71 million of those revenues staying right here in Lycoming County,” Marcellus Shale Coalition President David Spigelmyer said. “This is a sensible policy that works. Governor Wolf’s proposal to triple-tax Pennsylvania’s energy industry will hurt our ability to compete for investment capital, cost Pennsylvania jobs and harm consumers through higher energy costs. We are committed to working with elected officials on solutions to leverage our natural resource abundance for continued job growth, environmental progress and a brighter future for the entire Commonwealth.”
In addition to the Susquehanna River Walk, locally natural gas impact tax revenues have been put towards the Williamsport Area High School Stadium Project, Indian Park Nature Trail in Montoursville, Muncy Creek Streambank Restoration and Protection, and the Grafius Run Watershed Project, to name a few. Across the region, impact tax revenues have also funded numerous acid mine treatment facilities, flood mitigation initiatives and similar infrastructure programs that have improved our Commonwealth.
“Development of the Marcellus Shale has spurred investment in Lycoming County and the surrounding region, bringing in hundreds of new businesses and generating thousands of good-paying jobs for our residents,” said Williamsport/Lycoming Chamber of Commerce president/CEO Jason Fink. “The impact tax is working for our community and for our region. The Governor’s proposal to add a tax on top of the existing Impact Tax, would stifle the kind of investment interest that has been transformational for Lycoming County.”
Responsible natural gas production has generated nearly $6 billion in tax, lease and royalty revenues directly to the Commonwealth, has generated billions in royalties for mineral owners, stimulated renewed investment interest in the Commonwealth and created tens of thousands of jobs over the past decade.
In addition to the strengthened tax revenues and sustained economic growth, residential natural gas consumers in Pennsylvania have watched their gas commodity costs drop by as much as 70 percent since this industry took root a little more than a decade ago, and our new-found abundance and affordability of natural gas has driven huge local investments in the power generation sector. Natural gas is also responsible for a substantial reduction in air pollutants, primarily from the use this clean-burning fuel in electric generation
For more information on the existing natural gas impact tax and proposed severance tax, visit MarcellusCoalition.org.
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