If New York lifts its moratorium on hydrofracking, The Manhattan Institute says, income of residents in the 28 counties that lie above the gas-rich Marcellus Shale could rise by 15 percent.
The report says Pennsylvania counties in which hydrofracking has occurred have grown faster than those without it. Nearly 5,000 wells have been hydrofractured In Pennsylvania since 2002, the report says.
“By our count, there are immediate and concrete benefits in hydrofracturing wells: more money in the pockets of the people, more tax revenue for the state,” said the report, authored by institute senior fellow Diana Furchtgott-Roth. “These data deserve close attention and consideration as New York state confronts its decision.”
Hydrofracking is not allowed in New York while the state Department of Environmental Conservation studied the issue. The study, begun four years ago, still awaits a report from the state Department of Health.
Among the Manhattan Institute’s findings:
- Pennsylvania counties with hydrofractured gas wells had more economic growth that counties without wells. The more wells a county had, the better its economy.
- Between 2007 and 2011, per-capita income rose by 19 percent in Pennsylvania counties with more than 200 wells, by 14 percent in counties with 20 to 200 wells, and by 12 percent in counties with fewer than 20 wells.
- By contrast, in counties without hydrofrackiing, income rose by only 8 percent.
- Counties with more than 200 wells added jobs at a 7 percent annual rate; in counties with no or few wells, the number of jobs fell by 3 percent.