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July 7, 2010

GOVERNOR BARBOUR ANNOUNCES STUDY TO MEASURE ECONOMIC IMPACT OF GULF OIL SPILL

Governor Haley Barbour announced today a year-long economic impact study by numerous state agencies to examine the effects of the Deepwater Horizon Oil Spill on the Mississippi Gulf Coast.

The study is being coordinated through the Governor’s Office in partnership with the Institutions of Higher Learning, Departments of Employment Security, Environmental Quality and Marine Resources, Mississippi Development Authority, the Department of Revenue and the Gulf Coast Business Council. The $600,000 study will be funded equally by BP and anticipated grant money from the U.S. Economic Development Administration.

“We need a clear grasp on how this oil spill will impact the State of Mississippi and local communities for years to come,” Governor Barbour said. “We want a picture of exactly how this spill will effect Mississippi businesses, families and communities. This study will help as state leaders, agencies and local governments create long-term coastal restoration plans.”

The study will collect and analyze key economic indicators including employment data, tax revenues and socio-economic information. This data would be used by the team to formulate economic forecasts and the potential impact of the spill on the state’s economy.