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$450K Windfall

February 10, 2014
Times Leader

THE OIL and gas boom has been beneficial throughout Eastern Ohio. Schools, communities and countless individuals have brokered drilling deals of varying amounts.

The village of Bellaire is the most recent town to sign a six-figure accord. Village council Thursday night agreed to a five-year accord with Gulfport Energy Corp.

The All-American Town will realize $450,000 over the life of the contract. The money will be a potent financial shot-in-the-arm to the village.

Bellaire has been battling budget issues for many a fiscal year. The town at one time housed more than a dozen glass-making facilities, along with bustling businesses such as Phillips Stamping and Bobbie Brooks.

Those industrial days are long gone, and with them the once robust tax base they provided. Moreover, the village has lost some $240,000 due to state funding cutbacks.

Needless to say the money received from Gulfport Energy will help fill many gaps in the Bellaire economy.

The Eastern Ohio Utica Group helped negotiate the deal for Bellaire. The Utica Group has assisted many in securing the best possible deals.

Unfortunately, the $450,000 will not solve all Bellaire's ills or cover everything on its wish list. It also may be a good while, if ever, such a large sum comes Bellaire's way.

So we challenge Bellaire village officials to do their homework and formulate a prudent game plan for the most effective use of the money. It is a golden opportunity that must be capitalized on.

 
 

 

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