WorldWide Drilling Resource

17 WorldWide Drilling Resource ® MAY 2014 Industry Renaissance for Houston Ship Channel Region Adapted from Information Provided by Economic Alliance Houston Port Region The Houston Ship Channel region is preparing for unprecedented growth. Nearly 600 chemical industry execu- tives, trade group leaders, and mar- itime experts met for a conference at the Pasadena Convention Center, and they all pointed to recent economic fac- tors as reasons for optimism. The natural gas revolution driven by hydraulic fracturing and directional drilling in the United States is causing an industrial renaissance along the Houston Ship Channel. A $35 billion investment in petrochemical and man- ufacturing industry capital and mainte- nance has been announced for the region. “The business of chemistry is at the heart of manufacturing - access to shale gas has the potential to dramati- cally boost Texas’ and America’s com- petitiveness and help meet our nation’s goals for increased job growth and glo- bal exports,” said Hector Rivero, presi- dent and CEO of the Texas Chemical Council. The American chemical industry de- pends on abundant, affordable natural gas as a source of energy and as a raw material (feedstock) for a multitude of chemical products. “Lower natural gas prices give U.S. manufacturers an ad- vantage...,” said Rudy Underwood of the American Chemistry Council (ACC). In Texas, more than 81,000 per- manent jobs could be created in the chemical industry and throughout the supply chain, from trade and craft jobs to highly skilled jobs. This translates to more than $5.5 billion in wages for Texas workers and $779 million in state tax revenue. ExxonMobil Baytown Olefins plant manager, Woody Paul said a plant ex- pansion will create 10,000 construction jobs and add about 350 permanent jobs. To address the crucial need for skilled construction workers, Paul said ExxonMobil has funded a $500,000 workforce training program to prepare thousands of local residents for high- paying jobs. The training program is managed by Lee College’s Workforce and Community Development Center, and involves eight other Houston-area community colleges, including San Jacinto and College of the Mainland. “The ship channel region is uniquely positioned for strong economic growth Audience of over 600 at the Petrochemical and Maritime Outlook Conference. and prosperity...There will be thousands of jobs for our residents due to work secured by companies in the region...,” said Chad Burke, president and CEO of the Economic Alliance Houston Port Region. Industry trans. cont’d on page 18.