As the unemployment rate and jobs stagnate nationwide, New Yorkers consider the economic upside of hydrofracking.

The introduction of hydrofracking to New York could create up to 54,000 jobs, according to a new study released by the Department of Environmental Conservation.  The study states that the industry could pay New Yorkers up to $2.5 billion in work wages.  It could also result in a large number of economic spin offs to New York, as well as up to $121 million for the state government in personal income tax receipts, said the DEC.

Hydrofracking is a new controversial drilling method, through which the state would be able to access a large untapped reserve of its natural gas.  Although the industry could have tremendous economic upside, environmentalists are concerned that hydrofracking may have dangerous effects on drinking water reserves.

Hyrdrofracking has become a central issue in the tight race for the congressional seat of Ex-Rep. Anthony Weiner, reports the NY Daily News.  While Republican Bob Turner has expressed his support for hydrofracking, Democrat David Weprin has stated his opposition to the contentious drilling technique.  Weprin has said environmental concerns outweigh the economic stimulus the industry could bring to New York.

New Yorkers have a total of 90 days to decide whether they would like to take the environmental risks that have been linked with hydrofracking.  If it is implemented as an acceptable way to drill for gas, hydrofracking could provide much needed relief to the economy and job market.