Haynesville Shale economic impact - Loren Scott study

The study summarizes the impacts on the Louisiana economy in the following way:
LINK
• It’s estimated that during the year 2009, the extraction activity of these seven firms generated approximately $10.6 billion in new business sales within the state of Louisiana.

· • New business sales in turn created new household earnings for residents of the state. As a result of these activities, nearly $5.7 billion in household earnings was created in 2009.


· • This represents about 3.6 percent of the personal income produced in the state in 2009.

· • Louisiana’s personal income actually fell by almost $1.2 billion or 0.7 percent in 2009. Had it not been for the Haynesville Shale activity the decline would have been 4.3 percent.

· • Including the direct employment of approximately 4,318 employees and contract workers reported by these firms, there was an increase of 57,637 new jobs within the state in 2009

- As a reference point, there were 59,500 people employed in all of Louisiana’s finance and insurance companies in February 2010.

- Louisiana lost 38,500 jobs in 2009, a decline of -2 percent. Had it not been for the Haynesville Shale activity, the decline would have been 96,137 jobs or -5 percent.

· • It was estimated that new taxes paid directly by firms and additional taxes paid by households who experienced an increase in their household earnings led to state and local tax revenues increasing by at least $912.3 million in 2009.

- In Desoto Parish, sales tax collections were up by 82.2 percent in 2009.

- In Red River Parish, sales tax collections were up 205.1 percent in 2009.