tx state economic profile - updated all-in_june 2012

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Spotlight: South Texas In 2011, the Eagle Ford Shale: Accounted for $25 billion in total economic output Supported almost 47,000 full-time jobs, and contributed $3.1 billion in salaries and benefits paid to workers Provided more than $358 million in state revenues, including $120.4 million in severance taxes Supply more than $257 million in annual Natural Gas Texas State Economic Profile The U.S. is one of the world’s leading producers of natural gas, and Texas is our nation’s top-producing state. Integral to the Texas state economy, natural gas not only delivers clean, homegrown, abundant and affordable energy, but also provides good-paying jobs and hundreds of millions of dollars in revenue for communities statewide. Jobs & Direct Revenues According to IHS Global Insight, the natural gas industry in Texas has driven the growth of the economy and of job opportunities, with development from shale formations playing an increasingly significant role: The natural gas industry as a whole supports nearly 1.3 million total jobs, or about 12 percent of total employment, and contributes more than $100 billion a year to our economy Natural developed from shale alone in 2011 contributed nearly 288,000 total jobs, $9.37 billion in total labor income and $19.6 billion in value-added economic output. By 2035, natural gas from shale alone will contribute over 682,000 jobs and $53.4 billion in income, with total value-added contributions expected to exceed $111 billion. Critical Community Support Natural gas development also provides critical funding of state and local services, such as first responders and hospitals, as well as funding for municipalities and education services, including teachers, aides and support staff, and books. Royalties to landowners and state and local treasuries – Texas oil and gas industries paid more than $7 billion in state taxes and royalties in 2010 – the equivalent of nearly $25,000 per employee, which is more than five time the average paid by all other industries combined. Texas Independent Producers & Royalty Owners Association Federal, state, and local tax revenue – natural gas companies pay five times more in state and local taxes and royalties on a per-job basis than the average company in other industries. Texas Independent Producers & Royalty Owners Capital expenditures – Need info Energy Production & Demand Natural gas accounts for about 43 percent of Texas electric power generation. – Electric Reliability Council of Texas Texas accounts for one-tenth of the nation’s energy use. – Energy Information Administration Nearly 80 percent of natural gas demand is in the industrial and electric power industries.– Energy Information Administration Revitalizing Related Industries

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Page 1: TX State Economic Profile - UPDATED all-in_June 2012

Spotlight: South Texas In 2011, the Eagle Ford Shale:

Accounted for $25 billion in total economic output

Supported almost 47,000 full-time jobs, and contributed $3.1 billion in salaries and benefits paid to workers

Provided more than $358 million in state revenues, including $120.4 million in severance taxes

Supply more than $257 million in annual revenues to local governments for schools, hospitals, etc.

Natural GasTexas State Economic ProfileThe U.S. is one of the world’s leading producers of natural gas, and Texas is our nation’s top-producing state. Integral to the Texas state economy, natural gas not only delivers clean, homegrown, abundant and affordable energy, but also provides good-paying jobs and hundreds of millions of dollars in revenue for communities statewide.

Jobs & Direct RevenuesAccording to IHS Global Insight, the natural gas industry in Texas has driven the growth of the economy and of job opportunities, with development from shale formations playing an increasingly significant role:

The natural gas industry as a whole supports nearly 1.3 million total jobs, or about 12 percent of total employment, and contributes more than $100 billion a year to our economyNatural developed from shale alone in 2011 contributed nearly 288,000 total jobs, $9.37 billion in total labor income and $19.6 billion in value-added economic output. By 2035, natural gas from shale alone will contribute over 682,000 jobs and $53.4 billion in income, with total value-added contributions expected to exceed $111 billion.

Critical Community SupportNatural gas development also provides critical funding of state and local services, such as first responders and hospitals, as well as funding for municipalities and education services, including teachers, aides and support staff, and books.

Royalties to landowners and state and local treasuries – Texas oil and gas industries paid more than $7 billion in state taxes and royalties in 2010 – the equivalent of nearly $25,000 per employee, which is more than five time the average paid by all other industries combined. – Texas Independent Producers & Royalty Owners Association

Federal, state, and local tax revenue – natural gas companies pay five times more in state and local taxes and royalties on a per-job basis than the average company in other industries. – Texas Independent Producers & Royalty Owners

Capital expenditures – Need info

Energy Production & DemandNatural gas accounts for about 43 percent of Texas electric power generation. – Electric Reliability Council of Texas

Texas accounts for one-tenth of the nation’s energy use. – Energy Information Administration

Nearly 80 percent of natural gas demand is in the industrial and electric power industries.– Energy Information Administration

Revitalizing Related IndustriesThe agricultural, manufacturing, chemical and technology sectors all rely on natural gas as a stable, secure energy source and, in turn, hundreds of thousands more workers rely on it for their incomes.

Texas is the largest chemical-producing state in the U.S. That industry provides $105 billion in annual revenue and supports nearly 73,000 jobs. New natural gas supplies from shale formations are helping revitalize this key industry.

Page 2: TX State Economic Profile - UPDATED all-in_June 2012

$8.5 billion of proposed investment in new and existing ethylene production infrastructure could create 81,000 new permanent jobs, bring chemical industry revenues to $123 billion, and generate $779 million more in state revenues. – American Chemistry Council

Find out more about natural gas at www.ANGA.us.Natural Gas. Smarter Power Today.