Economic Boom from Eagle Ford Shale is Just Beginning
CORPUS CHRISTI (Kiii News) -
The South Texas economy is booming thanks to Eagle Ford Shale, and experts at Texas A&M University-Corpus Christi say it's only going to get better.
Dr. Jim Lee is a professor of economics at the Island University, and said that, right now, we are seeing an increase in the hotel, motel and restaurant industries; but pretty soon other sectors in the community will be benefiting form the oil and gas business.
"Banks are going to feel the impact. Also attorneys, because there is more and more demand because of contracts that need to be approved," Lee said. "This will be the ripple effect that will spread over time, and we are seeing this kind of ripple effect growing at an exponential rate."
Lee said the booming economy will not last forever, but added that it could last as long as 20 years.