This paper presents a case study investigation on the effects of the Pennsylvania fracking boom on the incomes of local residents.  Regions of the state that experienced high levels of drilling activity have an annual income per taxpayer 10 to 20 percent higher than a comparable synthetic control without fracking activity.  In the long run the component of residents’ income most impacted by fracking is royalties received by the landowners of drilling sites.  Fracking has had a far more modest, fleeting effect on the economies of rural areas of Pennsylvania with small or moderate numbers of wells drilled.