Public Policy Institute: 250,480 jobs could be created should New York match Pennsylvania drilling rate
ALBANY, NY (07/21/2011)(readMedia)-- ALBANY-- A new analysis by the Marcellus Shale Coalition estimates that 2,300 new wells may be drilled in Pennsylvania this year and approximately 2,400 could be drilled in each of the next five years. Projecting similar rates on to New York State, the Public Policy Institute (PPI) finds that - based on data from its recent report - 125,240 jobs could be created if 1,000 new wells were drilled in a year. This figure escalates to 250,480 jobs if 2,000 wells were to be drilled.
|Wells drilled/year||Jobs created directly||Jobs created through multiplier effect||Total jobs created|
Source: Projections based on data from The Economic Opportunities of Shale Energy Development (2011)
*RIMS II multiplier
The Public Policy Institute of New York State, Inc. is a research and educational organization whose purpose is to formulate and promote public policies that will restore New York's economic competitiveness. The Institute accomplishes this mission by conducting timely, in-depth research addressing key state policy issues. Founded in 1981 and affiliated with The Business Council of New York State, Inc., The Institute is a non-partisan, tax-exempt, 501 (c) (3).