Gas industry impacts explored by econ development board
Published: July 1, 2009
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share thisThe Susquehanna County economic development board focused much of the June 25 meeting discussion on the potential area impacts of the natural gas industry.
Central Bradford Progress Authority executive director Anthony Ventello reported that a Penn State University economics professor is conducting a natural gas economic impact study of the Marcellus Shale counties, including Susquehanna County.
Susquehanna County contracts with CBPA to provide day-to-day economic development services to the county.
Ventello also spoke about CBPA’s recent trip to an energy expo in Calgary, Canada where the group utilized state grant monies to market Susquehanna, Bradford, Sullivan and Wyoming counties to companies involved in the energy industry.
Ventello also said gas companies, in general, are not yet at the stage in production they anticipated at this time last year. The reason, according to Ventello, is the drop in the price of natural gas from a high of about $11 to around $4.
“The $4 environment has bought us some time,” said Ventello.
Economic development plans to use that time to further develop connections with gas company representatives.
He said that while in Calgary, some companies expressed reservations about bringing business to what they believe is a “union area.”
The board also spoke about the possibility of holding a business-to-business expo to link local business owners and service providers with gas companies operating locally.
Lycoming County plans to hold a similar expo in September. An expo in Susquehanna County would not conflict with the Lycoming County event.
Ventello also reported CBPA was following up with two companies who expressed preliminary potential interest in locating in the area. One company produces bio-fuel; the other company manufactures photovoltaic panels.
