Biz Council Report: Fracking Aids Economy
A report from the research arm of the state’s largest business lobby found that allowing high-volume hydraulic fracturing would help grow the economy in the jobs-starved upstate region.
The study, issued by the Public Policy Institute, found that in Pennsylvania, where certain fracking is allowed, gained 4,355 jobs in Pennsylvania. In New York, these sectors combined saw only 42 new jobs.
The controversial natural-gas extraction process involves blasting a mixture of chemicals and water underground. Though business groups, especially the energy industry, say the process can aid jobs growth, environmentalists fear the process could damage the water table.
The Department of Environmental Conservation released its draft environmental impact study of the process commonly known as hydrofracking earlier this month and the report goes to a public comment period later this summer.
Business groups have been pushing for a permitting process in order to allow high-volume fracking in the Marcellus Shale region of the Southern Tier, a potentially rich source of natural gas.
“This report details the long lasting economic impact that Marcellus Shale development can bring to New York’s Southern Tier,” said Heather Briccetti, acting-president & CEO of The Business Council in a statement. “As the Department of Environmental Conservation focuses on the environmental aspects of Marcellus Shale exploration, it is important that New York also consider the economic impacts. The report stresses that a balanced approach to natural gas extraction in the Marcellus Shale will lead to thousands of new jobs, real property tax benefits and increased tax revenue.”
| Print article | This entry was posted by Nick Reisman on July 14, 2011 at 2:20 pm, and is filed under Hydrofracking. Follow any responses to this post through RSS 2.0. Both comments and pings are currently closed. |
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