The Permian Strategic Partnership (PSP), a first-of-its-kind philanthropic collaboration of 17 energy companies, today announced that the organization had transformed $93 million in philanthropic member investment into $950 million in community support. The announcement, which underscores the vast local community benefits of energy companies, comes as the country considers an increase in domestic oil production to fulfill the global need.
As global events create intense pressure on energy companies, PSP members have remained committed to a new model for serving their communities in important areas like access to healthcare, education and workforce development, and infrastructure. Thanks to their investments, PSP serves as the bridge between community resources and critical needs, said PSP Chairman and Former U.S. Commerce Secretary during the George W. Bush administration Don Evans. Our hope is that the work we do in this region can serve as a model for other public partnerships across the country and clearly demonstrate how domestic energy supports our nation’s communities.
Founded in 2019, PSP serves as a model for private businesses to invest in the public good. Through Public-Private Partnerships, PSP has improved the quality of life for Texas and New Mexico residents. Over the past year PSP has made substantial investments to support critical community needs, including:
- $34,075,000 in education investments benefiting more than 100,000 students.
- $41,000,000 in healthcare investments to improve access to the region’s 2 million residents.
- $14,700,000 to train and upskill the region’s 800,000 strong workforce.
Over the past year, we forged new partnerships, and we increased investment in our schools, our regional health quality, and the infrastructure that facilitates virtually every aspect of our daily lives, said PSP President and CEO Tracee Bentley. We have demonstrated to stakeholders how public and private sectors can successfully collaborate to address a community’s most pressing issues.
Its recently released second annual report showcased PSP’s extensive work and community impact. To read the full report, visit: permianpartnership.org/2021-annual-report