Local Municipalities Continue to Reap Impact of Eagle Ford

The Eagle Ford Shale oil boom continues to pay economic dividends for local municipalities in the form of increased shares of the state sales tax, according to figures released this month by Texas Comptroller Susan Combs.

All 11 municipal governments in the Cannon’s coverage region have year-to-date totals well above those of 2010, thanks in great measure to increaased traffic to local retailers by personnel associated with the oil and gas drilling industry as well as sales taxes being collected on products associated directly with that industry.

Leading the way in the April disbursement were the cities of Cuero, Gonzales and Luling, all located on the US Highway 183 corridor that leads into the heart of the oil field.
Cuero’s May check for $190,445 represents an increase of nearly 63 percent over last year. For the year to date, Cuero’s receipts of $773,125 are 53.93 percent above last year’s totals.

Gonzales also saw a healthy increase in its May check, which accounts for April sales. Gonzales’ May check will be for $147,548, a 31 percent increase over last year. Its yearly receipts to date of $668,541 are 20.38 percent over last year’s totals.


Source: The Gonzales Cannon

For Stock Picks or Project Investment Opportunities

Eagle Ford's Job Boom Gets Louder

CARRIZO SPRINGS — It’s lunchtime at Lee’s Steakhouse and the restaurant has few empty seats.

A nearby convenience store is crowded with long lines at the two registers and a queue at the gas pumps. Roads are clogged as tankers barrel through to deliver equipment to remote oil rigs.

Welcome to a county at the heart of the Eagle Ford shale, which some have called the most promising oil play in the nation.

Just two years ago, no one would have suspected that Dimmit County, pegged by the U.S. census as the 19th-poorest county in the United States, would be at the heart of a boom. There were few wells being drilled in the region, and local businesses were begging for customers.

But drilling in the Eagle Ford, a 400-mile-long formation stretching from East Texas to Webb County, has touched off a hiring frenzy in South Texas that is generating thousands of jobs.

Source: My San Antonio


For Investment Projects or Stock Information