Ohio’s Natural Gas and Oil Industry Supports Local Communities with $769M in Tax Revenue
PATASKALA , OH - Ohio’s natural gas and oil industry plays a key role in supporting the local communities where they live and operate, driving the state’s economy for more than a decade. These financial benefits are clear in the latest tax payment findings that show $769 million in tax revenue supporting local schools, municipalities, counties and other services in Ohio.
For decades, the Ohio natural gas and oil industry has supported state government and local regions through ad valorem and severance taxes. Recently, these payments have grown significantly thanks to the increase in production and development in Ohio. Utica Shale development has led this economic boom with dramatic rises in property tax revenue. These taxes go to support villages, townships, cities and local schools.
The newest data released shows between 2010 and 2021 the natural gas and oil industry has provided:
$364,125,091 in ad valorem taxes to Ohio’s eight primary shale producing counties (Belmont, Carroll, Columbiana, Guernsey, Harrison, Jefferson, Monroe and Noble).
$405,000,000 in severance taxes on natural gas and oil production to the state of Ohio
The total state and local taxes paid by Ohio’s natural energy producers between 2010 and 2021 comes to a staggering $769,000,000.
“The Ohio natural gas and oil industry has always strived to be a community partner but these numbers make the benefit clear,” said Ohio Natural Energy Institute Chairman David Hill, “From the energy they use on a daily basis to the tax dollars that go to fix their roads and improve their schools, it’s clear Ohio’s natural resources are propelling the state forward.”
About The Ohio Natural Energy Institute: The Ohio Natural Energy Institute is an organization of professionals who educate people about the essential energy that makes life better, specifically focusing on natural gas and oil production. In the community and in classrooms, we provide trusted, factual information through teacher workshops, first responder training, guest speaker programs, and more. Engage with us via Facebook and follow us on Twitter, Instagram and LinkedIn.
