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About > Economic Impact
About

Economic Impact

Economic Impact

EQT’s activities have a prominent economic impact on the communities and states where we operate and provide significant benefits for the entire U.S. economy.

2017 Local, State, and U.S. Highlights:

  • EQT contributed $539 million in taxes to support state and local programs
  • Operations provided $4.4 billion in Gross Domestic Product (GDP) or value-added to the U.S. economy

EQT’s operations in 2017 supported approximately 1,800 direct employees in our six-state operating region and thousands of indirect jobs along the industry supply chain. In turn, the earnings spent by those employees, contractors, and suppliers to purchase goods and services sustained “induced” job growth across the country, resulting in more than 40,000 people employed nationally.

2017 Job Sustaining Highlights

  • 1,716 direct employees*
  • Nearly 39,000 ancillary jobs supported by EQT’s activities
  • $304 million in direct employee compensation

(Millions of dollars, unless otherwise noted)

  Pennsylvania West Virginia Kentucky Texas  Virginia Ohio  Rest of U.S. Total
EQT Employees (#) 1,110 379 158 45 22 1 1 1,716
Employee Compensation
$236.0 $44.2 $14.7 $6.2 $2.4 $0.1 $0.2 $303.8
Capital Expenditures $1,389.0 $1,308.1  $13.9 $3.8  $0.6  $66.8 $0.0 $2,782.2
Royalty Payments  $170.2 $132.1  $7.5 $7.4  $3.6  $0.4  $0.2  $321.3
Ancillary Job Creation (#) 14,179 8,759 429 1,160 478 1,215 12,761 38,981
Gross Domestic Product $1,960.1 $790.5 $47.1 $137.6 $48.0 $114.0 $1,338.6 $4,435.9
Ancillary Labor Income $940.0 $391.2 $19.1 $85.0 $29.2 $64.0 $937.6 $2,466.0
State & Local Taxes $177.6 $124.1 $18.5 $13.5 $5.0 $11.0 $189.9 $539.6

SOURCE: FTI Consulting prepared the analysis and compilation of an annual economic impact study based on raw data supplied by EQT as of year-end 2017.

*In the 2017 Form 10-K, we state report a total of 2,067 employees at year-end 2017; however, this total includes both full-time and transitional Rice Energy employees retained by EQT as a result of the acquisition. For the purpose of the FTI study, we used the pre-integration total, which as of November 13, 2017, was 1,716 employees.