Allegheny County is poised for growth after the County’s decision to allow oil and gas development at the Pittsburgh International Airport. The move brings with it incredible investment and future opportunity for the county and its economic growth.

Last week, the Allegheny County Council approved an ordinance authorizing the lease of 9,263 acres surrounding the Pittsburgh International Airport to CONSOL Energy for oil and natural gas development.

The vote, which passed 9-4, comes after years of study and effort to position the county to take advantage of the vast resources in the area. Looking at the numbers, the move will allow them to do just that.

With a $50 million upfront payment from Cecil-based CONSOL, combined with 18% royalties estimated to net an additional $450 million over the next 20 years, the deal could generate half a billion dollars to the airport.

That doesn’t even include the $500 million estimated in investments in infrastructure and outside costs. All told, the deal could net nearly a billion dollars in investments – a promising venture for the county, and one that will benefit the entire community. This much was made clear by the County Executive in a recent Pittsburgh Post Gazette story:

http://eidmarcellus.org/blog/allegheny-county-set-for-takeoff-as-co...