The development of the Marcellus Shale play in West Virginia has the potential for significant economic development for the state, according to a new report from the West Virginia University College of Business and Economics, Bureau of Business and Economic Research (BBER). The report also examines potential impacts associated with the development of the shale play from 2010 to 2015 as well as the legal, regulatory and environmental issues associated with further development.
"West Virginia's natural gas industry accounted for over $12 billion in business volume and created over 24,400 jobs in 2009,"said Dr. Tom S. Witt, BBER director and co-author of the study. "Out of this total, our study estimates that the Marcellus Shale play accounted for the creation of 7,600 jobs and $2.35 billion in business volume, making it a significant contributor to the economic health of our state. The potential exists for upwards of nearly 20,000 jobs by 2015 if drilling grows at a 20 percent rate each year."
“WVU opened its doors in 1867 with a land-grant mission to teach agriculture and
engineering to a broad segment of our population,” Clements said. “Over time,
our mandate has grown to encompass nearly every pursuit. Our tools have evolved
into the most sophisticated technology. Our impact has radiated beyond our state,
bringing West Virginia to the world and the world to West Virginia.”
The luncheon, sponsored by the
WVU Alumni Association, is held in conjunction with the Chesapeake Energy
Capital Classic men’s and women’s basketball games between WVU and Marshall
The Morgantown Metropolitan Statistical Area (MSA, which includes Monongalia and Preston counties) posted solid job gains during the past four quarters, outpacing state and national growth, according to the latest edition of the Morgantown MSA Economic Monitor from the West Virginia University College of Business and Economics.
"Morgantown job growth was 1.2 percent from the third quarter of 2009 to the same quarter of 2010. That was quadruple the state growth rate and six times the national rate," said George W. Hammond, associate director of the Bureau of Business and Economic Research (BBER), which operates under the College of Business and Economics. State job growth was 0.3 percent and national growth was 0.2 percent during the same period.