Pennsylvania General Energy is part of an important economic engine
in many counties and communities where oil and natural gas reserves are found.
Our 110 employees, hundreds of contractors’ employees and other businesses
that serve the oil and natural gas industry all provide a positive contribution
to the regional economy.
A recent study by Penn State’s Office of Workforce Education and Development concludes that the oil and natural gas industry generates $5.9 million in annual compensation for every 100 workers, and an additional $1 million in wages for the businesses that serve and supply the industry. Together, the buying power of those workers puts enough money into the regional economy to pay workers in a number of fields an additional $973,000 in compensation, putting the total annual compensation for every 100 oil and natural gas employees in the region at $7.9 million.
Just as important are the number of good jobs generated by those same 100 employees, including 23 workers employed by the companies that provide supplies and services to the industry, and another 40 jobs in other areas of the region’s economy. Put another way, every 10 oil and natural gas workers in the region has a multiplier effect of supporting more than six other jobs.
For its part, PGE’s economic impact on the rural counties in northwestern Pennsylvania means more than just jobs and the multiple effect those jobs create.
Another important source of economic strength, of course, can be found in the royalties paid to property owners who choose to lease with PGE. These payments have enabled parents to provide for their growing families, pay for children to attend college, and allowed many retirees to enjoy a more comfortable quality of life.
PGE remains committed to the communities we live and work in. We’re happy to be a part of the growing economy in these rural areas and take great pride in our efforts to be good corporate neighbors and partners.