UTSA's Institute for Economic Development is releasing its latest study at two luncheons. One on May 9 in San Antonio and another in Cotulla on May 11. Here are the highlights from the San Antonio event:
In 2011:
- Eagle Ford Shale development supported almost 50,000
- Total impact of the play was $25 billion
- Companies paid $3.1 billion in salaries related to the play's development
- 14 county core area has seen average salaries rise 27-34% across the board
In 2021:
- Total economic impact could range from a low case of $25 billion to a high case of $96 billion
- Eagle Ford could support 117,000 jobs. More than 2.5 times current employment
On a side note:
- UTSA inherited 5,000 acres years ago and is getting royalties from one lease that is paying $25,000 per month. The money is going straight to scholarships
- All statistics were taken from a mid-case or moderate view of development. If the high case comes to fruition, the play could contribute even more to South Texas.
Tom Tunstall and crew did a great job presenting the findings. We're blessed to have great resources like the Institute of Economic Development right in our backyard.
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You can read more about the study at utsa.edu