A recent study conducted for the Illinois Chamber of Commerce details the potential benefits of hydraulic fracturing, or “fracking,” and the up to 47,000 jobs and more than $9 billion in economic impact it could mean for Illinois.
The Illinois Department of Natural Resources reports, to-date only one company Strata-X, Inc. of Denver, Colorado has registered and been approved for the work. Fracking involves using a mixture of water, chemicals and sand to crack rock formations deep underground and release trapped oil and gas. The process has been a boon to job creation and economic development in other states. However, as the State Journal Register recently reported, there are concerns the nearly year-and-a-half delay between the signing of the Fracking Law and final approval of rules governing the process may have slowed interest and pushed back decisions by other companies to get involved.