Northeast Ohio Jobs and Utica Shale

Posted February 29, 2012

The Utica shale gas resources are forecasted to bring an addition 65,000 at an average $50k per year to the long suffering Northeast sector of Ohio. The area has been Ohio’s highest chronic unemployment since the steel industry shut down in the late 70s and early 80s.

According to the study Ohio’s gross domestic product can be expected to increase by $4.9 billion in 2014 due to development of the Utica shale play. It would add 1% to Ohio GDP, which would be greater than the average annual statewide growth rate of 0.6 percent for the past 13 years.

In addition, the study found Utica shale activity would boost state and local tax revenues by $433.6 million in 2014, an exponential increase over the $16.5 million generated by such activity last year.

http://www.bizjournals.com/columbus/blog/2012/02/shale-study-predicts-65k-jobs-5b-gdp.html

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