It’s Amazing What Offshore Energy Could Do for GEORGIA
GA
has the smallest coastline of any southeastern state, but it stands to benefit in a big way from offshore oil and natural gas exploration and production. This includes revenue from the energy resources
themselves, as well as the economic activity associated with providing products and services to exploration and production companies throughout the region.
Georgia’s Offshore Oil and Natural Gas Resources By the Numbers 5,000 jobs
$2.1 billion
$702 million
$426 million
in cumulative spending (2017-2035)
by 2035
in cumulative state government revenue (2017-2035)
in annual contributions to the economy by 2035
Opening the U.S. Atlantic Outer Continental Shelf to offshore oil and natural gas exploration and production could have remarkable benefits for job creation, U.S. energy security, domestic investment and revenue to the federal and state governments. By 2035, the five southeastern states will benefit from more than $10 billion in annual contributions to the economy.
$4.1
$2.7
$2.2
$694
$426
North Carolina
South Carolina
Virginia
Florida
Georgia
billion
billion
billion
million
Source: The Economic Benefits of Increasing U.S. Access to Offshore Oil and Natural Gas Resources in the Atlantic, Quest Offshore Resources, Inc., December 2013
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million