Striking Gold from Natural Gas
Ohio may have struck gold in the form of major shale deposits. Utica shale that contains natural gas has been found beneath significant portions of eastern and central Ohio
with small pockets in Northwest Ohio.
New techniques and technologies for
harvesting these deposits are creating
tremendous possibilities for its potential
impact on our economy, with horizontal
drilling as the real game changer.
Businesses and residents in Pennsylvania
already are benefiting from this advancement through the harvesting of Marcellus
Shale natural gas found between 3,000 and
4,000 feet beneath the surface of much of
Harvesting Utica shale can be an economic “boom.”
By Judith Malone
the state. A Pennsylvania State University
study reports that, in 2008, the Marcellus
gas industry directly added $1.1 billion to
Pennsylvania’s economy, which then generated indirect and induced impacts totaling
Impact on business
This activity has had a value-added impact
upwards of $200 million on Pennsylvania’s
mining, construction, wholesale trade, real
estate and professional service sectors. In
addition, health and social services, transportation and warehousing, finance and
insurance sectors each have generated more
than $100 million.
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Large water-filled trucks like this one will be used
to free natural gas from Utica shale formations
running deep beneath eastern Ohio.
Source: Philadelphia Inquirer
And there’s more. Utilities, manufacturing, retail trade, administrative, as well as
accommodation and food services generated more than $50 million in response to
the creation of the Marcellus gas industry.
Overall, the study found that for each
Marcellus well drilled, $6.2 million in
economic impact is generated.
Can Ohio cash in?
Industry experts believe these deposits
present even more potential for our
region and state. The Ohio Gas and Oil
Association estimates the creation of more
than 200,000 direct and indirect jobs by
2015 from exploration, leasing, drilling
and pipeline construction, resulting a
$22 billion in wages.
Greater Cleveland Partnership staff are
on the Ohio chamber coalition examining
this opportunity and will keep you up-to-speed on developments. ●
Save the date!
Date: Friday, November 18
Time: 5:30-9: 30 p.m.
Place: Windows on the River
Friday November 2011 18