Perryman: 85% of regional gross product stays in Midland

Economist Ray Perryman told a gathering of elected leaders Wednesday that there’s a reason a development initiative would be beneficial to the Midland metropolitan statistical area.

He said during a presentation of his study — which looked at the implications of Midland’s anticipated growth — that more than 85 percent of the regional gross product in the Permian Basin oil and gas sector flows to the Midland MSA.

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Both Midland and Odessa saw a boom to their population numbers in 2018, according to new data released from the U.S. Census.

Report Finds Midland Has A Lot Of Growth Potential — If It Can Overcome Critical Challenges In The Coming Years

Midland is growing at a fast rate, as the oil and gas industry continues to thrive in the Permian Basin. But residents and local leaders are beginning to question what needs to be done to make the Tall City a place where more people want to live.

A new economic impact study released by the Perryman group gives residents a picture of how the city will grow if it begins to make some dynamic shifts.

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Perryman: Midland MSA’s population could reach 280,000 by 2030

Economist Ray Perryman told Priority Midland stakeholders on Tuesday that the Midland metropolitan statistical area’s population could climb to 236,500 by 2025 and 280,800 by 2030.

The Odessan was commissioned by Priority Midland to define the implications of Midland’s anticipated growth. In his presentation, he clearly stated that today’s oil production environment was drastically different than even 10 years ago.

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