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Join Date: Aug 2002
Location: milford pa-pike county
Shale Impact Fees Hit Record Levels with $224.5 Mi
FOR IMMEDIATE RELEASE
Contact: Patrick Creighton; Travis Windle
April 4, 2014 | PERMALINK
Shale Impact Fees Hit Record Levels with $224.5 Million Generated
Revenue supporting local communities, infrastructure, statewide environmental programs
Pittsburgh, Pa. – As Pennsylvania shale production continues to soar, the state Public Utility Commission (PUC) announced today that impact fee revenue for 2013 hit record levels. With a total of 6,489 unconventional wells under development or in production as of December 31, 2013, shale producers contributed a total of $224.5 million in impact fees for the calendar year. This brings total impact fee revenue to more than $630 million over the past three years, in addition to the more than $2.1 billion in state tax revenue generated by the industry since 2008.
Marcellus Shale Coalition president Dave Spigelmyer issued this statement following the release of this data:
“This new stream of revenue is having a positive and real impact in communities with shale development as well as those without active Marcellus production. Whether these funds are invested in bridge and road projects, the purchase of new firefighting equipment, key environmental programs, or other major community priorities, these dollars are creating profoundly positive and shared benefits.
“It's also important to recognize that these fees are in addition to the Commonwealth's already substantial tax burden on job creators in the energy industry. According to Pennsylvania's revenue department, natural gas development has contributed more than $2.1 billion in recent years through tax payments to the state's general fund. In addition, shale companies have invested more than $1 billion in transportation and infrastructure improvement projects, as well as critical royalty payments to the Commonwealth and private landowners alike.
“Responsible shale development continues to create environment benefits, jobs, and opportunity for each and every Pennsylvanian. We need to ensure that we have the right policies in place to broaden these benefits, rather than unnecessarily making Pennsylvania a less attractive place to create jobs.”