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Eagle Ford Shale Generated More Than $25 Billion in Revenue for South Texas in 2011
UTSA projects the shale to create 117,000 jobs by 2021
Written by Christi Fish
Associate Director of Media Relations, The University of Texas at San Antonio
Eagle Ford Shale Report DownloadSAN ANTONIO, May 9, 2012 – Development of oil and natural gas in the Eagle Ford Shale contributed $25 billion in total economic output to the region in 2011, according to a study released today by the Center for Community and Business Research at The University of Texas at San Antonio Institute for Economic Development (UTSA).
"The Eagle Ford Shale has proven to be one of the most important economic engines in the state," said Dr. Thomas Tunstall, director of the UTSA Center for Community & Business Research, and the study’s principal investigator. "In 2011 alone, the play generated over $25 billion in revenue, supported 47,000 full-time jobs in the area, and provided $257 million in local government revenue."
The study also concluded that in 2011 shale development:
- Paid $3.1 billion in salaries and benefits to workers;
- Provided more than $12.6 billion in gross regional product;
- Added more than $358 million in state revenues, including $120.4 million in severance taxes;
- And spurred a triple-digit sales tax revenue increase in various local counties.
"We view the Eagle Ford activity as an economic opportunity of a lifetime," said Mario Hernandez, president of the San Antonio Economic Development Foundation. "The key goal is the increase in investment and jobs. And if the communities will partner with the private companies that are creating these jobs, it can be a win-win for everybody."
The increased revenue from the Eagle Ford Shale is rebuilding local communities. New schools and new hospitals are being built, and new training programs have been launched to maximize hiring from the local workforce. The study projects the creation of approximately 117,000 full-time jobs by 2021.
Institute signs agreement with Honduran university
UTSA Institute for Economic Development signs agreement with Universidad Jose Cecilio del Valle
Story by This e-mail address is being protected from spambots. You need JavaScript enabled to view it , International Media & Marketing Coordinator
The UTSA Institute for Economic Development will expand its presence in Central America with a new international agreement signed with Universidad Jose Cecilio del Valle in Tegucigalpa, Honduras.
The agreement allows UTSA and Universidad Jose Cecilio del Valle to begin working on developing certificate training programs and a Small Business Development Center (SBDC) project modeled on similar SBDC programs in the United States.
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Dr. Jude Valdez, Vice President for Community Service, and Universidad Jose Cecilio del Valle Rector Carlos Avila Molina signed the agreement of cooperation. |
University Rector Carlos Avila Molina visited the UTSA Institute for Economic Development, and explored programs, including the International Trade Center, the SBDC San Antonio and the SBDCnet. Robert McKinley, UTSA vice president for Economic Development and Al Salgado, director of the SBDC Texas southwest border region, hosted the visit. Dr. Jude Valdez, Vice President for Community Service, signed the agreement of cooperation.
McKinley explained that the U.S. State Department and the Honduran embassy requested that the Institute of Economic Development explore the possibility of a partnership with Universidad Jose Cecilio del Valle.
“It is known as the entrepreneurial university in Honduras,” said McKinley. ”One of their priorities is preparing their graduates become active in helping create small businesses.”
Read more: Institute signs agreement with Honduran university
SBDC partnership launches in Caribbean states
UTSA Institute for Economic Development helps launch Small Business Development Center (SBDC) model in Caribbean states; Robert McKinley, associate vice president of economic development, speaks at launching ceremony at Organization of American States headquarters
Left to right: Robert McKinley, Associate Vice President, University of Texas at San Antonio; Escipion Oliveira, Deputy Director, The Caribbean Export Development Agency; Carmen Lomellin, Ambassador, Permanent Representative of the United States to the OAS; José Miguel Insulza, OAS Secretary General Duly Brutus, Chair of the OAS Permanent Council and Permanent Representative of Haiti to the OAS; Albert R. Ramdin, OAS Assistant Secretary GeneralOn Feb. 24 in Washington, D.C., UTSA Associate Vice President for Economic Development, Robert McKinley, helped launch a new international small business development center (SBDC) initiative. The Caribbean Small Business Development Center (SBDC) project is modeled on similar SBDC programs in the United States.
The initiative partners the Organization of the American States, the U.S. Department of State Mission to the OAS, and the Caribbean Export Development Agency with UTSA’s Small Business Development Center programs.
At the ceremony, Ambassador Carmen Lomellin, U.S. Permanent Representative to the regional body, announced a U.S. grant of $960,000 to fund the launch.
The project will create a network of sustainable and successful small business assistance networks in Saint Lucia, Dominica, Belize, Jamaica, and Barbados.
The newly created network of Caribbean small business development centers will eventually be linked with similar existing programs located throughout the United States, Mexico, Colombia, and Central America to share best practices, and to promote cooperation and support productivity and sustainable economic growth.
Under the leadership of Robert McKinley, UTSA has been deeply committed to and successful in expending the proven SBDC model throughout Latin America. Beginning with Mexico in the 1990s, UTSA helped launch 104 SBDC programs in Mexico, 10 in El Savador, two in Colombia, and is in the process of standing up SBDC model programs in the Dominican Republic, Honduras, Costa Rica and Panama.
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