The Permian Basin is an Energy Powerhouse: Solar, Wind, & Petroleum
The Permian Basin is synonymous with energy resources. This northwest Texas region thrives because of its rich petroleum, natural gas, and potassium deposits. But did you know it is also particularly well-suited for solar and wind energy? Wind in the region is steady and constant, and on average, there are 266 sunny days per year in the region.
Several of our 17 member counties have Opportunity Zones which are a community development program established by Congress in the Tax Cuts and Job Act of 2017 designed to spur economic development in less-developed and under-invested communities. The program provides a tax incentive for investors to re-invest their unrealized capital gains into Opportunity Funds that are dedicated to investing in Opportunity Zones designated by the chief executives of every U.S. state and territory. Now is a perfect time to invest in Opportunity Zones because capital gains taxes on earnings from many types of investments can be deferred until December 31, 2026. View the map of Texas’ Opportunity Zones.
Permian Basin By Road
The Permian Basin is conveniently located along the Ports-to-Plains Corridor that provides the efficient transportation of goods and people from Mexico, through west Texas, Oklahoma, New Mexico, Colorado, and ultimately Canada and the Pacific Northwest. Included in the Corridor are the Permian Basin’s sections of I-20 and US 87. Traveling east along I-20 grants direct access to the Dallas-Fort Worth Metroplex. The Ports-to-Plains Alliance is a nonprofit, bipartisan, grassroots alliance of more than 200 partner communities and businesses across nine states that advocates for robust international transportation infrastructure.
Forts-to-Ports Connectivity Corridor
The five-state congressionally designated east-west I-14 Corridor, also known as the Texas to Georgia Forts-to-Ports Connectivity Corridor, is underway. It will be built primarily by incrementally upgrading existing highways in each of the states. The newly designated I-14 route runs from Midland-Odessa across Central Texas to Alexandria, Louisiana, Laurel, Mississippi, Montgomery, Alabama, and then to Columbus, Georgia before terminating in Augusta, Georgia.
The Permian Promise
The Texas Department of Transportation (TxDOT) is committed to improving roads and highways by expanding capacity and adding safety features for residential and commercial traffic.
The goal of the Permian Promise is to identify roadway enhancements that reduce congestion and fatal crashes by improving existing corridors and identifying corridors in need of possible expansion. This promise is part of a partnership with local stakeholders, including oil and gas companies, which are tackling other infrastructure enhancements such as broadband access (currently, 95 percent of our region has broadband access with up to 1 Gig in Midland and Odessa), health services, affordable housing, workforce development, and quality education. The coalition plans to spend $844 million with TxDOT providing most of the funds to make it happen.
Permian Basin by Rail
The Permian Basin is extensively serviced by Union Pacific Railroad and Permian Basin Railways which provide access to nationwide markets as well as Texas ports for global distribution options. Switching, direct spurs, and storage capabilities are available.
Permian Basin by Air
The Permian Basin region is serviced by the Midland International Air and Space Port. MAF is located halfway between Midland and Odessa and is ranked eighth in Texas for primary commercial service airports. MAF serves 43 counties in Western Texas and Eastern New Mexico.
Owned and operated by the City of Midland, MAF has over 20 daily departures with non-stop service to Dallas Fort Worth (DFW), Dallas Love Field (DAL), Houston Intercontinental (IAH), Houston Hobby (HOU), Las Vegas (LAS), Phoenix (PHX), and Denver (DEN). Currently, the airport is served by Southwest, Envoy (American), and United Express (United). Hangar rentals are available.