This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Governor Corbett: Marcellus Shale Development Employs Thousands Of Pennsylvanians; Reduces Energy Costs

Employment data also indicate that there are more than 200,000 jobs in the industries where ancillary or supply-chain activities for Marcellus Shale occur. The companies in the core industries rely on the companies in these industries to provide the products and services they require. This group of industries was created based on the relationships that have historically existed within the natural gas sector of the economy.

This conservative job number does not take into account the many induced jobs, such as hospitality, service and other professions that have clearly seen a positive impact from Pennsylvania's development of our natural gas industry.

As Marcellus Shale development continues to grow and evolve, it is likely that additional industries will be identified that play a larger role in the energy economy than they have in the past.

"New manufacturers are arriving and building plants. Companies with deep histories are expanding and branching out to the energy supply chain. Engineering firms are growing and environmental firms are hiring – and we are seeing this throughout Pennsylvania where there is drilling and miles away from it," Corbett said.

The commonwealth's support for safe, innovative energy development has led to a number of economic successes, most notable the continued operations of three refineries in the southeastern section of the state, saving more than 1,000 jobs.

The bright future of energy in Pennsylvania also helped to secure operations at the Aker Philadelphia Shipyard, increasing demand and putting 1,000 Pennsylvanians back to work.

In Chester County, Schramm, Inc. added 50 employees in 2012, mostly engineers, to design a new drilling rig for the natural gas industry. The additional jobs bring the company's total employment up to 235.

In October, Corbett visited Environmental Tank Container, which currently supplies oilfield services companies, water hauling firms, frack tank rental companies and energy companies. The company is experiencing tremendous growth and will add 100 new jobs over the next five years in Cambria County.

In Columbia County, a business partnership between two Pennsylvania-based companies, WellSpring Environmental Services, LLC, headquartered in Orwigsburg, and Ultra-Poly Corporation, based in Portland, Northampton County, is expected to create 80 new jobs. The new recycling venture is projected to remove at least 20 million pounds a year of plastic well pad liner material and turn it into to useful products.  

Developing Unconventionals East (DUG East) is a series of conferences focused on the energy industry's business challenges and opportunities in identifying and developing unconventional resources. This year's conference focuses on the unconventional plays across the Appalachian region, which are leading to unprecedented resource abundance for the U.S. consumer, and are increasing in global importance. President George W. Bush was the keynote speaker at the conference. 

Media Contact:  Jay Pagni, 717-783-1116

SOURCE Pennsylvania Office of the Governor

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs