Impact on the Community
As a 120-year-old company, EQT has a major impact on the regions where we do business.
We strive to conduct business as a good corporate citizen, contributing to the economy, environment and citizens in the Appalachian Basin — Kentucky,
Pennsylvania, Virginia, and West Virginia while supplying energy, maintaining
an exemplary safety record and providing a rewarding bottom line for our investors.
EQT's 1,800 well-paying jobs contribute to state and
federal tax rolls, and we make
significant purchases from local vendors. Both help create thriving economies in the regions where we do business.
*Information compiled and analyzed for EQT's 2008 Socioeconomic Impact Analysis by Economic Development Research Group,
Inc.
Pennsylvania
Pittsburgh, Pennsylvania is home to EQT’s Corporate Headquarters.
In Pennsylvania, we have a direct economic impact on the state’s economy with 841
jobs and a payroll of approximately $177 million, including benefits. Plus, corporate
purchasing requirements tied to operations and capital projects are worth more than
$157 million – all in addition to providing natural gas to households and businesses
in the region.
In terms of jobs and labor income supported throughout the six-county economy, the
total impacts amount to 3,441 jobs and $299 million of labor income. Our 2008 revenues
created a "spill-over" economic effect in additional business sales stimulus worth
$333 million.
In 2008, EQT generated state and local tax revenues of $3.8 million, not including
some portion of the combined federal and state employee income tax withholdings.
These revenues help support public services and infrastructure
at both the county and state level.
Kentucky
In Kentucky, we employed more than 250 people, all but five of whom lived in the
region, in 2008. That means that the majority of their $18.8 million-after-tax wages
stay in the area and are spent boosting the local economy.
As an employer, EQT contributes combined federal and state taxes of $30.9 million,
money that goes into improving the local infrastructure, public safety, education
resources and helps support a thriving economy in Kentucky.
In terms of jobs and labor income supported throughout the 22-county area, the total
impacts amount to 3,543 jobs (1.7% of the region’s employment) and $168 million
of labor income (1.4% of the region’s personal income).
Virginia
In Virginia, EQT provided 162 jobs in 2008, with a payroll of approximately
$11.5 million (including benefits), and purchasing requirements tied to operations
and capital projects of $165.5 million – all in addition to developing and delivering
natural gas to serve out of state markets.
In terms of jobs and labor income supported throughout the six-county economy, the
total impacts amount to 1,489 jobs and $66 million of labor income. Our
revenues in 2008 added an additional business sales stimulus worth $194 million
to the state of Virginia.
We contributed state and local tax revenues of $12.3 million, without including some
portion of the combined federal and state employee income tax withholdings.
These revenues help support public services and infrastructure at both
the county and state level.
West Virginia
In 2008 EQT provided West Virginia with 396 jobs, a payroll of approximately $34
million dollars, including benefits, and purchasing requirements tied to operations
and capital projects of $385 million.
In terms of jobs and labor income supported throughout the 42-county economy, the
total impacts amount to 3,528 jobs and $173 million of labor income. In addition
to EQT revenues for the state in 2008, the "spill-over" effect generated additional
business sales of $441.7 million.
We also contributed approximately $28.8 million, not including some portion of the
combined federal and state employee income tax withholdings, to
state and local tax revenues in this region. These revenues help support public
services and infrastructure at both the county and state level.
Good business for EQT also means good business for the states in which we operate.
And just as the people of this region have always supported our business, we make
it our business to support the region through direct and indirect economic impact,
charitable giving via our foundation and the volunteer efforts of our employees.