Midland, Texas-based Permian Strategic Partnership (PSP) released its 2023 annual report on July 22 highlighting the coalition’s community impact during the past five years.
Since its creation in 2019, the organization has doubled its membership and committed $153 million in philanthropic investments to generate more than $1.5 billion in community support and collaborative investments, PSP said.
PSP’s philanthropic efforts through public-private partnerships, havely enhanced the quality of life for residents in the Permian Basin’s 22 counties in Texas and New Mexico.
PSP's report highlighted investments dedicated to addressing needs in the region, including:
- $65.1 million in education investments distributed to over 100,000 students;
- $58.7 million in healthcare contributions to strengthen and expand access for the region's two million residents;
- $7.8 million in critical road safety initiatives and life-saving equipment; and
- $13.9 million in workforce development to train and upskill the region's workforce.
"As we look back on the remarkable progress we have made over the past five years, we are filled with optimism and determination for the journey ahead," said PSP President and CEO Tracee Bentley. "The Permian Basin stands as a testament to the resilience and sustainability of our community, and it is our collective responsibility to ensure that its potential is fully realized. In the pursuit of this vision, the importance of continued public-private partnership cannot be overstated."
The partnership is a coalition of 30 leading Permian Basin energy companies and higher education institutions.