Expanding economic opportunity
For Pennsylvania and our entire nation, the economic impact of shale production is happening on several levels.
- Billions of dollars in taxes, impact fees, and royalties have been pumped into the state’s and local communities’ economies. The natural gas industry has spent $750 million on road and infrastructure improvements in Pennsylvania while Marcellus Shale development has revitalized refineries across the state.
- Natural gas development has meant more, better paying jobs: according to the Commonwealth’s Department of Labor & Industry, more than 240,000 employees work in Marcellus Shale related industries — and in 2012, 93% of all new hires were from the Appalachian Basin. And producers are working with regional and minority business councils to ensure diversity across both the workforce and suppliers.
- Consumers have seen reductions in their utility bills as a result of natural gas production. As a result of rate cuts by Southeastern Pennsylvania natural gas companies, consumers in that region saved an average of $3,200 between 2008-2011. Consumers elsewhere in Pennsylvania – and across the country — are also saving on energy bills thanks to natural gas.
- Finally, increasing natural gas production will reduce America’s dependence on foreign sources of energy— helping to stabilize energy prices worldwide while keeping our country safer.