Home / Business / Cabot Oil gives $50,000 to Wyoming Seminary for four scholarships

Cabot Oil gives $50,000 to Wyoming Seminary for four scholarships

KINGSTON — Touting it as an investment in the company’s own future, Cabot Oil and Gas Corporation donated $50,000 to Wyoming Seminary school Wednesday. The money will be used as scholarships for students interested in the STEM subjects (Science, Technology, Engineering and Math).

“We can’t come up with a better way to invest in the future than through our children. Today is the opportunity to make that investment in students,” Cabot External Affairs Director George Stark said during a brief media event Wednesday in the school’s new Nygren STEM classroom. “It’s critical our students understand all facets of energy.”

The money comes through the state’s Educational Improvement Tax Credit program, which gives businesses tax breaks for contributions to schools enrolled in the EITC program. A one-year donation gets a 70 percent tax credit and commitment to donating two consecutive years gets 90 percent.

Stark said Cabot made a two-year commitment, and plans to do so again in coming years. “We see a long run of us being here.”

Wyoming Seminary intends to use the money to give at least four students financial aid — two from the Lower School in Forty Fort, which handles students up to grade eight, and two for the Upper School in Kingston, which houses grades 9 through 12.

In related news, North Dakota Petroleum Council awards oil and gas scholarships.

This article was written by Mark Guydish from The Times Leader and was legally licensed through the NewsCred publisher network.

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