A natural gas boom could bring billions of dollars to Broome County.

A preliminary study shows the potential economic impact of drilling into the Marcellus Shale.

As Action News Reporter Julianne Sweeney tells us, the estimates cover everything from the driller to the retailer.

This preliminary report points to billions of dollars in Broome County's future.

It studies only economic impact of natural gas drilling into the Marcellus Shale.

"We wanted to put a dollar amount and what it would mean to all Southern Tier residents." said Broome County Executive.

The County hired 2 researchers from the University of North Texas.

They looked at the potential minimum and maximum economic impact
over a 10 year period.

"We're creating a what you might call a what if or a hypothetical model." said Dr. Bernard Weinstein of the University of North Texas.

The model is based on New York State allowing horizontal natural gas drilling within a year.

The Department of Conservation is drafting new regulations.

Broome County is petitioning the DEC lift the hold as soon as possible.

"This is something that can truly infuse a lot of capital into our region." said Darcy Fauci of Broome County Economic Development.

The report finds gas companies could spend $7 to 15 billion dollars to develop gas fields in Broome, depending on the number of wells.

In turn it would generate hundreds of jobs on field sites.

And then create millions in local sales revenue if companies purchase equipment and supplies locally.

"The drilling will have a ripple economic effect and everyone should benefit." said Broome County Attorney Joe Sluzar.

There will also be an indirect impact, adding another 2 billion to 4 billion into the economy.

Gas companies would hire employees for field offices.

New employment that would lead to more home buyers or renters.

And new customers for restaurants and hotels.

"We knew it was going to mean a lot, but not to the extent." said Fiala.

Broome is also looking to lease County owned land.

Fiala says it's another way to bring in more money above the millions in anticipated tax revenue.

The study cost Broome County 15-thousand dollars from hotel-motel tax money.

A professor from the University of North Texas will be here to present the study to the County Legislature on September 22nd.

Those researchers did a similar economic study on the Barnett Shale in Texas.