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Cabot’s investment of $2.5 million ($1 million to grow our endowment, $1.5 million for equipment, intern- ships and other support) enhances the financial strength of the college even as it provides future funding to help offset the tuition for economically challenged students. This investment ensures that our students will have opportunities to work with the latest technologies and get an education that is second to none.


Additionally, by aligning itself with Lackawanna, Cabot places its seal of approval on the college’s program and elevates it to an industry leader—something only hoped for five short years ago. In just a few years, Lackawanna College and our alumni have gone from newcomers to recognized national leaders.


This commitment has many benefits for many peo- ple, not just for Lackawanna College and the areas where oil and gas exploration are actively taking place. As has already been seen, the growth of the industry, truly just in its fledgling stages, has had tremendous positive impact on our entire region. As the industry grows and we begin to see an influx of high-energy-use companies that will relocate to take ad- vantage of easy access to inexpensive energy, the effects seen al- ready in those areas directly involved will rapidly be seen by us all.


With the state’s highest unemployment rate (7.7 percent), north- eastern Pennsylvania has the possibility to follow the example of Susquehanna County, just to our north. Because of the opportuni- ties brought to the area by Marcellus Shale, Susquehanna County’s rate is one of the lowest in the Commonwealth at just 5.4 percent (down from 8.2 percent in 2009). As Rick Marquardt, the director of Lackawanna’s School of Petroleum & Natural Gas noted recently,


the college is placing students at a near 100 percent rate within the industry—and in positions paying well above the salaries typically seen in our area. These are not just jobs; they’re jobs that will be with us for generations. These are not just family-sustainable wage positions; they’re positions that will re-ignite the American Dream of providing better opportunities for our children.


Lackawanna College is proud to be at the lead in developing the academic programs necessary to prepare local students for these life-changing careers. We are grateful to Cabot Oil & Gas, and our many other corporate partners, for the collaboration and support that helps ensure our students are fully prepared to step into those jobs.


LOOKING FOR AN IDEAL LOCATION IN THE MARCELLUS SHALE REGION?


Cherrington Corporate Center


> Potential for three adjacent full buildings to be available, totaling approximately 250,000 SF


> Class A product with institutional grade ownership


> Park like setting


> Easy access to transportation corridors, including I-79 & I-376


> Located near the Pittsburgh International Airport


For leasing information, please contact Colliers International | Pittsburgh 412 321 4200 | www.colliers.com


Marcellus Quarterly 2014 17


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