Oil and gas opportunities growing in the Valley - 21 News Now, More Local News for Youngstown, Ohio -

Oil and gas opportunities growing in the Valley

Posted: Updated:

YOUNGSTOWN, OHio - Oil and gas exploration continues to present opportunities for business growth in the Mahoning Valley.

A new report reflects the impact the industry is having in the region, and it's just getting started.

The annual Valley Economic Update shows 118 projects involving economic development agencies, with investments totaling more than $400 million and 7,000 jobs created or retained, with oil and gas playing a significant role.

Sarah Boyarko, the Regional Chambers vice president for economic development, says Exterran is one example of a business indulging in the recent oil and gas projects with $13 million.

Others include Hilcorp and NiSource at $300 million and Chesapeake $900 million.

The Youngstown-Warren area is positioned in the heart of the Utica location, and is a gateway to Marcellus Shale.

Boyarko says more projects are already in the works.

"There's other ribbon cuttings pending for this year that are exciting news in the Valley," she says.

Vince Bevacqua of ShakeComm says more wells will mean more pipelines, processing plants and supply chain investments; so we're not even scratching the surface.

The Chamber and Bevacqua both say that shale development is going to be a game changer for the Valley.

"It is the opportunity we've been waiting for a couple of generations now to really latch on to and make a big difference economically in this area," says Bevacqua.

 

  • More From wfmj.comMore>>

  • 6 hurt when truck hits Dairy Queen near Pittsburgh

    6 hurt when truck hits Dairy Queen near Pittsburgh

    Friday, July 25 2014 1:01 AM EDT2014-07-25 05:01:26 GMT
    PITTSBURGH (AP) - Authorities say six people were injured and a gas line was damaged after a truck crashed into a Dairy Queen in suburban Pittsburgh. The Pittsburgh Post-Gazette said the incident occurred shortly before 3 p.m. Thursday in Penn Hills. A witness tells the newspaper that she was able to help an employee get out through a window after a cash register fell onto her. That employee, the manager and four men in the truck were taken to hospitals. The newspaper says firefighters secur...More >>
    PITTSBURGH (AP) - Authorities say six people were injured and a gas line was damaged after a truck crashed into a Dairy Queen in suburban Pittsburgh. The Pittsburgh Post-Gazette said the incident occurred shortly before 3 p.m. Thursday in Penn Hills. A witness tells the newspaper that she was able to help an employee get out through a window after a cash register fell onto her. That employee, the manager and four men in the truck were taken to hospitals. The newspaper says firefighters secur...More >>
  • UPDATED

    Ohio State marching band director fired

    Ohio State marching band director fired

    Thursday, July 24 2014 8:49 PM EDT2014-07-25 00:49:54 GMT
    Ohio State University fired the director of its celebrated marching band on Thursday amid allegations he knew about and ignored "serious cultural issues," some involving rituals where students were pressured to march in their underwear or participate in sexually themed stunts.More >>
    Ohio State University fired the director of its celebrated marching band on Thursday amid allegations he knew about and ignored "serious cultural issues," some involving rituals where students were pressured to march in their underwear or participate in sexually themed stunts.More >>
  • Witness: Teen's plane didn't show obvious distress

    Witness: Teen's plane didn't show obvious distress

    Thursday, July 24 2014 7:38 PM EDT2014-07-24 23:38:16 GMT
    The family of an Indiana teenager who crashed in the Pacific Ocean during an around-the-world flight says he knew the risks and had prepared for them.More >>
    A man who saw a plane flown by an Indiana teen who was killed during an around-the-world flight attempt says the aircraft was flying low but didn't show any obvious signs of distress before diving into the ocean off...More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms