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:
- 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
- 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.
We were in San Antonio providing live updates. Be sure to Follow EagleFordShale.com on Twitter to get future updates. If you'd like email updates on news in the Eagle Ford, be sure you're getting our daily or weekly email updates.
You can read more about the study at utsa.edu