The shale gas industry generates many jobs; let's not thwart that with higher taxes
Post Date: 11 Apr 2015 Viewed: 343
Washington County’s economy is strong and growing stronger. As record-breaking amounts of clean natural gas continue to be responsibly produced, Western Pennsylvania is transforming from the belt-buckle of the Rust Belt into one of America’s leading 21st-century energy hubs.
And a new Washington & Jefferson College study analyzes shale development’s impact on the county’s economy. Among the study’s findings: The industry’s economic impact has grown from $1.7 billion to $2.4 billion; jobs supported by the shale gas industry now number approximately 10,000; state and local tax revenue increased from $90 million to $160 million; and Pennsylvania’s special natural gas impact taxes — which have directly improved our communities, helping to fund critical projects all while keeping tax increases at bay — generated more than $34 million.
While we have made meaningful economic progress, we have much more to achieve aimed at moving our economy forward over the long term. This is especially true as it relates to harnessing our abundant natural gas resources to revitalize our region’s manufacturing base.
We can choose a brighter future, with more jobs — especially in the manufacturing, small business and labor sectors — as well as more locally directed revenue. Or we can opt for even higher energy taxes, which will stunt this industry’s growth, leading to fewer jobs and less economic activity.