New Study Aimed to Unlock Pennsylvania’s Economic Potential

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New Study Aimed to Unlock Pennsylvania’s Economic Potential - News

Updated: October 5, 2017

New Study Aimed to Unlock Pennsylvania’s Economic Potential

sandia.gov

A study, “Forge the Future”, commissioned by Chevron Appalachia and Peoples Natural Gas, was released this summer to analyze opportunities facing the Commonwealth that both private and public sectors can prioritize to forge an action plan in regards to energy resources. The study, referred to as a first step in providing reasonable strategies, can be the basis for a road map for moving forward.

The study identified three key recommendations:

  • Increased gas-fired power and heating for residential and commercial users.
  • Creation of industry and manufacturing clusters around energy intensive sectors
  • Exporting gas via good pipeline systems to maintain a strong upstream sector, key to creating more downstream options.

By initiating these suggestions, Pennsylvania could see a $60 billion increase in gross domestic product (GDP) in the next 10 years, as well as create an additional 100,000 jobs and increase state revenues by a minimum of $2 billion.

The study recognized challenges the state may face in moving on these recommendations. While an available labor pool is identified, there are some cost and potential skill gaps in some operations. The state makes a major contribution to the science and engineering talent pool, but the talent moves out of state. Work in attracting higher growth sectors is also needed.

The full report may be found on the PA Forge the Future website.