StateImpact has pulled together the infographic below which highlights the tie between the natural gas industry and Pennsylvania’s economy.
The number of jobs that the natural gas industry is supporting are much-needed as the economy starts rebuilding itself.
But beyond that, the number of dollars changing hands between companies, landowners, and Pennsylvania is quite impressive:
- You have the Impact Fee dollars that go to each county in Pennsylvania to be used for earmarked activities. This money is determined by how many wells have been spudded (or completed) by each company.
- On top of the Impact Fee that comes directly from E&P companies, you have billions of tax dollars that the Commonwealth has received from business taxes, from the companies, and from personal income from landowner royalties.
- Plus, the amount of money that landowners will be receiving via bonus and royalty payments in 2013 is estimated to be over $800 million
Read through the infographic below and take a moment to really let these numbers sink in. The benefits that natural gas has on the economy on multiple fronts is truly staggering.
Then take a moment to think about what states/areas such as New York are missing out on by instituting bans. Pretty thought-provoking, huh?
Source: StateImpact
