Whether you’re starting, relocating or expanding your business, the Northern Tier PREP region provides a vital and expanding economic climate located right in the heart of Pennsylvania’s Marcellus Shale gas play, where hundreds of thousands of jobs have been created and billions of dollars have already been invested.
The Northern Tier region is marked by a diverse and growing economy. The Northern Tier’s employers range from mining and logging to education services, and government. As of September 2012, no one industry comprises more than 20% of the employment in the region.
Over the past six years, Marcellus Shale natural gas exploration has grown exponentially, which has brought a major economic shake-up to the region. Historically, the rugged nature of the topography of the region has been a barrier to development, ease of transportation, and economic advancement ; however, it is this topography, or rather the geological formations under that topography, that has caused a boom in recent investment. The region is located at the very center of the natural gas drilling that is taking place in the commonwealth which has already had and will continue to have a significant impact on population, economic development, and the overall identity of the region.
As a result of the Marcellus Shale development, natural gas related companies have been the fastest growing industry in the region, supporting the work and services of many area small businesses. As such, the Northern Tier region can finally boast a growing economy and historically low unemployment rates. Between 2009 and 2010 the region was listed among the top 100 of the nation’s highest wage growth areas.