The Star-Telegram published a story today about a report by economist Ray Perryman that the Barnett Shale natural gas drilling boom has had an economic impact of $65.4 billion in North Texas since 2001. The report also say that natural gas now supports, directly and indirectly, 100,268 jobs in 24 counties.
Perryman, a Texas economist with Waco-based Perryman Group, was commissioned by the Fort Worth Chamber of Commerce. Bill Thornton, CEO of the Fort Worth chamber, said the study was commissioned to see how or whether the economic downturn had affected past projections about the industry.
“What we found was that it’s a bulwark of our economy,” Thornton said. “Virtually nonexistent a decade ago and now — thanks to new technology developed here — is generating huge benefits in terms of tax revenues, payroll and personal income for our region and the state.”
Some other tidbits from the story:
- Total regional impact of the Barnett Shale will be $11.1 billion in 2011.
- Employment in the region is about 8.7 percent higher, and personal income about 8.5 percent more, than it would be without the Barnett Shale, which has generated 38.5 percent of the area’s economic growth since 2001.
- The Barnett Shale will have generated $5.3 billion in taxes for local governments over the 2001-11 study period, including an estimated $730.6 million in 2011. The state will receive estimated benefits of $911.8 million.
- The Barnett Shale’s impact is now about 5 percent higher than that of aircraft manufacturing and 10 percent greater than air transportation, which includes Dallas/Fort Worth Airport, Dallas Love Field and Fort Worth Alliance Airport.