Wednesday, August 29, 2012

Carroll County on Frontlines of Shale Boom, Experiencing the Early Benefits

From The Daily Record:
Oil and gas production stemming from horizontal hydraulic fracturing is expected to pump billions of dollars and tens of thousands of jobs into the state economy in coming years.
Carroll County is already experiencing the benefits. Rutledge said taxable sales have risen to $125.7 million, compared to $94.8 million in 2011. And sales tax collections this year are up $300,000-plus.
"That's the industry buying things locally," Rutledge said. "They're buying hotel rooms, rood [sic], other products. ... Carroll County has less than 30,000 (people who) live in the whole community. To see an increase in your sales tax of $300,000, that's significant."
Rutledge spoke about the results during a meeting of the Consumer Energy Alliance near the Statehouse on Friday, where the group presented the findings of a new North American study calling for policy changes that support exploration, protect the environment and reduce burdensome regulations.
Read the rest of the article here.

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