HOUSTON--(BUSINESS WIRE)--Taylor Consulting, Inc. (OTCBB: TAYO) continues to move forward with multiple real estate acquisitions in West Texas as a new study this week predicts that the Cline Shale play will add $20.5 billion to the region’s economy by 2022.
The economic impact study, conducted by the University of Texas at San Angelo Institute for Economic Development, examined the effect of oil and gas activity in 10 counties in the eastern Permian Basin. The UTSA study found that by 2022, oil and gas development will be responsible for creating 30,000 jobs in the study area as activity in the Cline picks up.
“These are truly incredible numbers,” said TAYO CEO Scott Wheeler. “30,000 new jobs is going to attract a huge number of people to this area that will all need places to live, work and play. That growth is driving a very hot real estate market in the eastern Permian Basin.”
TAYO is currently conducting due diligence toward the acquisition of multiple properties located on or near the massive Cline Shale formation. Covering an area of over one million acres, the Cline Shale could be the largest North American oil play of all time, with some experts predicting it could produce as many as 30 billion barrels of oil. As the company builds its asset portfolio, TAYO is seeking out raw land and distressed properties with the potential for multiple marketing strategies.
In addition to its traditional sports consulting business, TAYO recently created a new division—Third Avenue Development, LLC—to invest in promising real estate assets to compete alongside American Homes 4 Rent (NYSE: AMH), Silver Bay Realty Trust Corp. (NYSE: SBY), Equity Residential (NYSE: EQR), Essex Property Trust Inc. (NYSE: ESS) and more.
For more information on Third Avenue Development, please visit www.ThirdAvenueDevelopment.com.
About Third Avenue Development, LLC
A division of Taylor Consulting, Inc. (TAYO), Third Avenue Development, LLC, is building an emerging portfolio of real estate assets for rehabilitation and rent or resale. The company is focused on acquiring properties in the country’s top-performing housing markets in order to capitalize on the continued recovery and growth of the U.S. real estate marketplace.
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