Eagle Ford Brings Jobs, Revenue to South Texas

A few years ago, property value in Karnes County was $500 million. Since then, it has jumped to $1.3 billion, a side effect of Eagle Ford shale in South Texas, which spills across 24 countries. Along with property tax, cities and towns around Eagle Ford saw large increases in sales tax, hotel revenue and government revenue. Just in 2008, there were only 28 drilling permits in Eagle Ford. This past November, that number hit 2,991.

Unemployment around Eagle Ford shrunk to 7.5 percent in October. According to the Federal Reserve Bank of Dallas, San Antonio's drop in its unemployment rate is the highest in 21 years. Jobs not only grew in the oil and gas industry, but also spread to other areas. The drilling activity led to a greater need for large truck transportation and employees in the hospitality industry. 

The hustle and bustle of the activity also brought more road problems as maintenance workers can't keep up. Cities fear adding more stores and hotels having experienced an oil bust in the 1980s that left many vacant buildings. Unfortunately, production models don't help as the numbers vary greatly showing production lasting from a few years to a few decades.

All signs point that things won't slow down soon especially with oilfield services company Halliburton planning to build a $50 million operations center in San Antonio. The center needs 1,500 employees to support its operations.

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