Sign In | Create an Account | Welcome, . My Account | Logout | Subscribe | Submit News | Facebook | Twitter | Home RSS
 
 
 

Study team presents shale information

April 5, 2012
Salem News

CALCUTTA - The shale industry boom has hit Ohio and is moving rapidly toward Columbiana County, Linda Woggon, executive director of the Ohio Chamber of Commerce, told business and government leaders who attended a workshop in St. Clair Township on Tuesday. Her claim was not without documentation.

Woggon is also director of the Ohio Shale Coalition, which organized a study team of experts from area universities to project oil and gas production and economic growth in the region. The study team of Dr. Andrew R. Thomas, Dr. Iryna Lendel and Dr. Edward W. Hill of Cleveland State University; Dr. Robert Chase of Marietta College and Dr. Douglas Southgate of The Ohio State University, reported projections through 2014 for the study.

Waggon on Tuesday presented some of the statistics from the report, some of which are included in the Ohio Chamber's "Ohio matters" magazine for March-April.

With regard to job creation, the study team projected number of jobs in the shale energy supply chain and related areas, average income expected for those employment areas, and the anticipated labor income annually through the study period.

By 2014, the study team anticipates there will be 28,153 job created in the field development and supply chain (construction, transport, distribution) with an average income of $59,451. Employment areas identified as mixed sources of demand (real estate, insurance, employment services) are projected at 6,279 jobs with an average income of $38,414. For professional services (engineering, legal, business support) job projections are 5,712 jobs jobs with an average income of $69,177. Personal service jobs (retail, healthcare, auto repair and the like) are projected at 16,066 jobs with an average income of $36,018.

The study team reported value-added impact of the shale energy industry in Ohio will climb from $162 million in 2011, to $4.9 billion by 2014. The figures reflect an increase in demand from shale drilling and the ripple effect to other parts of the economy, such as engineering services, entertainment and healthcare.

The study team projects labor income will increase from the $99.7 million reported in 2011 to $571 million by the end of this year. The team projects labor income at $1.9 billion in 2013 and $3.2 billion in 2014.

Output, the economic indicator of a particular industry, is reported at $291 million for 2011, $1.6 billion by the end of 2012, $5.8 billion in 2013 and $9.6 billion by the end of 2014.

Anticipated increased in state and local taxes collected as a result of the shale energy industry are reported by the study team as $16 million in 2011, $73 million in 2012, $271 million in 2013 and $433 million in 2014.

The full study is available on the Ohio Shale Coalition website, www.ohshalecoalition.com.

 
 

 

I am looking for:
in:
News, Blogs & Events Web