Tuesday, January 25, 2011

WVONGA Releases Economic Impact Study For Natural Gas Industry

The West Virginia Oil & Natural Gas Association today released an economic impact study on the state’s natural gas industry. Here are some key findings (for 2009):
- the oil and natural gas industry in West Virginia employed 9,869 individuals and paid over $551.9 million in wages;
- economic activities of the industry in 2009 generated a business volume impact of over $12 billion in the state’s economy and created approximately 24,400 jobs;
- the natural gas industry paid $65.9 million in state severance taxes and the oil and natural gas industry paid approximately $88.4 million in property taxes to the state; and
- the economic impact of the Marcellus Shale development in the state in 2009 was calculated to be $2.35 billion of business volume and accounted for the generation of 7,600 jobs.
Click to see the full report: http://www.wvonga.com/LinkClick.aspx?fileticket=BtAZqbV5TKg%3d&tabid=244