Billions from the Barnett

Oil and gas activity supports more than 100,000 jobs in the regional economy.

A new study commissioned by the Fort Worth Chamber of Commerce has a lot to say about the economic boost provided by Barnett Shale development.

For 2011 alone, oil and gas activity poured $11.1 billion into the regional economy while supporting some 100,268 jobs across 24 counties.

So where does that money go? Well, for starters, cities, and school districts in the region are slated to receive an estimated $730.6 million in additional fiscal revenues this year from Barnett Shale development and production.

And if you look back over the past decade, the numbers get even bigger. From 2001-2011, the cumulative economic benefits added up to $65.4 billion, including $5.3 billion in local tax receipts and another $5.8 billion to the state.

The study was conducted by The Perryman Group. It’s president, Ray Perryman, has a PhD in economics from Rice University, a bachelor’s degree in math from Baylor and more than 30 years of experience in financial analysis.

The findings also showed that 38.5 percent of the incremental growth in the regional economy over the past decade has been the result of Barnett Shale activity.

You can read the entire report online. Media coverage also is available from the Star-Telegram and the Dallas Business Journal.