Economic Success | Partnership is Key in the Permian Basin

Ranger Land and Minerals, a company from Texas that buy mineral rights

The Permian Basin is expected to need 115,000 additional workers by 2040, according to the Permian Strategic Partnership. On Thursday, the Federal Reserve Bank of Dallas teamed up with local leaders to better understand the economy in the region with the pandemic now mostly in the past. Read more about this economic success goal.

Discussions were very positive all around with education, career readiness, and workforce all highlighted.

Another key theme was partnership among community entities, a significant factor for success moving forward.

“So, I would say it’s going to be ongoing, continued partnerships and levels of engagement, because at the end of the day, whatever we lost as a result of the pandemic, if we’re going to try and close that gap, none of us in this room can do the heavy lifting alone,” said Adrian Vega, Executive Director of the Education Partnership of the Permian Basin. “It’s going to take all of us, because the bottom line is, we all live in this community and so we’re all facing the same challenges.”

The Permian Basin falls into the 11th district of the federal reserve, and with President and CEO of the Federal Reserve Bank of Dallas Lorie Logan on hand to hear panel discussions, there is importance in understanding the economy.

“Particularly the Permian Basin, because it is sort of the seed of energy in the country, and so…our president wants to make sure she really has an understanding of the energy sector, the issues – now and around the corner,” said Alfreda Norman, Senior Vice President of the Federal Reserve Bank of Dallas.

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Source: News West9

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