Wyoming Business Council Benchmarks and Annual Report · Wyoming Business Council 2017 Annual Report 5 ECONOMIC BENCHMARKS Five-Year Targets and Benchmarks (Rankings out of 50 states)

Wyoming Business Council 2017 Annual Report 1

Benchmarks and Annual Report

Wyoming Business Council

2017

wyomingbusiness.orgHigh school welding students competed for scholarships to celebrate Manufacturing Day in Cheyenne on Oct. 2, 2017.

2 Wyoming Business Council 2017 Annual Report

Increasing Wyoming’s Prosperity

The Wyoming Business Council is committed to increasing the state’s prosperity by building strong, diverse and expanding industries; treating small business like a big deal; shaping Wyoming into the technology center of the High Plains and creating well-loved communities.

In 2017, the WBC continued to fulfill this mission by assembling grant and loan packages to enable the expansion of several manufacturers, develop business-ready infrastructure, and enhance quality of life. Investments from previous years led to the opening this year of several more manufacturers throughout the state. Meanwhile, Wyoming Main Street communities continue to earn national recognition for innovative ways of bringing new businesses, jobs and activity downtown. The new Grown in Wyoming program is set to expand markets for producers and provide retailers and consumers more local choices. The Business Council is also launching trade missions around the world to bring Wyoming products to an international audience.

In the year ahead, the Business Council expects to announce new company recruits, more manufacturing facility grand openings, a strategy that puts industry experts at the center of the conversation and more trade show opportunities worldwide.

3. GDP5. Economic Benchmarks7. Budget8. Organizational Chart10. Regional Offices11. BRC Grant and Loan Program14. Wyoming Main Street15. Business Financing16. Business Resource Network17. ENDOW18. Industrial Development19. Business Development20. Technology Development21. Community Development22. Market Development23. Marketing and Communications

CONTENTS

Since last year, the ROI on WBC programs is up 58%. Economic and community development requires long-term investments whose benefits often occur over several years. Currently, every dollar invested in the WBC programs is recovered in 1.52 years.


GROSS DOMESTIC PRODUCT (GDP)

+3.3%USA

+0.85%Wyoming

2015-17 GDP Growth

Wyoming will double the nation’s GDP growth by 2025.

STRETCH GOAL

WYOMING GDP

(Adjusted for inflation)

2015 2025

GOAL$49,574,000

BASELINE$35,768,000


GROSS DOMESTIC PRODUCT (GDP)

-10

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Wyoming USA WY/US Difference in percent GDP contribution

2016 GDP Contributions

Mining, Quarrying, and Oil and Gas Extraction account for a disproportionate amount of Wyoming’s economy compared to the US. While this sector has seen promising signs in recent months, it continues to face challenging market conditions. There is tremendous opportunity to balance the effects that these conditions have on GDP and employment by growing underrepresented sectors like Professional and Business Services, Education and Health Services, Manufacturing, and Finance, Insurance and Real Estate.


ECONOMIC BENCHMARKS

Five-Year Targets and Benchmarks (Rankings out of 50 states)

Double SBIR grants awarded The Small Business Innovation Research program is intended to help certain small businesses conduct research and development (R&D). Funding takes the form of contracts or grants. In 2016, SBIR Grants awarded per worker were $10.77 (six grants), ranking Wyoming 23rd in the nation. Source: U.S. Small Business

Administration (SBA)

Increase score on diversity index by 10% (50th)The index is a measure of economic diversity that compares the industry composition of the state to the industry composition of the nation by taking the total employment of an industry in a state divided by total state employment, and comparing it to the nation’s equivalent. Wyoming’s diversity index score increased in 2016 from 0.5481 to 0.6017. Source: Bureau of Labor Statistics

Achieve 1-gigabit-per-second internet service in 75% of municipalitiesThis statistic measures the percentage of Wyoming municipalities that have access to 1-gigabit broadband. The federal definition of broadband is currently 25 megabits-per-second. This standard is expected to increase in the future. Estimates put the current percentage of Wyoming municipalities with access to 1-gigabit broadband at 30 percent, up from 2015 estimates. Source: Wyoming Industry Estimates

Double number of patents awarded Patents granted per one million residents increased from 194 to 197 in 2016, ranking Wyoming 35th in the nation. Source: U.S. Patent and Trademark Office

Grow technology to be the fourth largest economic sector Wyoming’s technology sector (as a percent of GDP) increased slightly from 4.76 in 2016 to 4.78 through March 2017, making it the eighth largest economic sector. Source: U.S. Bureau of Economic Analysis

Increase Wyoming exports per capita by 50%Wyoming exports per capita decreased slightly from $2 billion in calendar year 2015 to $1.9 billion in 2016. This measure is an important indication of a state’s competitive strength in the global market. It is calculated by the total dollar value of exports based where the merchandise starts its journey to the port of export and dividing it by the number of state residents. As with the other benchmarks, this benchmark was significantly affected by the global downturn in energy prices and markets. In 2016, Wyoming ranked 43rd in the nation for exports per capita. Source: The population estimates used to derive the exports per capita are from the U.S. Census Bureau, Population Division. The export data come from the U.S. Census Bureau, Foreign Trade Division, Origin of Movement Series.

INCREASING

DECREASING


ECONOMIC BENCHMARKS

Double foreign direct investment in WyomingForeign direct investment is an investment in a business by an investor from another country for which the foreign investor has control over the company purchased. Investment in gross property, plant, and equipment totaled $19,198,000 in 2015. Data has not been disclosed for 2016. Source: U.S. Bureau of Economic Analysis

Rank first in number of new business starts per 1,000 employeesThis is the number of new businesses started within the state per 1,000 workers. New businesses are defined as those requesting a new unemployment insurance account number from the state Department of Employment Security. In calendar year 2016, there were 8.69 new business starts per 1,000 workers in Wyoming, which was a decrease from the previous year of 9.97. In 2016, Wyoming ranked 6th in the nation for number of new businesses per 1,000 employees. Source: U.S. Department of Labor, Employment & Training Administration, Unemployment Insurance Services (New Businesses) and Bureau of Labor Statistics (Workers).

Increase average earnings per job by 10% Wages in Wyoming showed a decrease in 2016. Wage rates fell from $46,306 in calendar year 2015 to $44,974 in 2016, a —3.0 percent decrease. These figures do not include sole proprietors. Source: Wyoming Department of Labor, Bureau of Labor Statistics (represents average for all sectors).

Percentage of population below poverty This represents a two-year average. Averages are used to eliminate any spikes or dips in the poverty level because of localized economic conditions. The measure is intended to track those living in long-term poverty. In 2016, (average of 2015 and 2016) 10.3 percent of the Wyoming population was living in poverty, ranking Wyoming 12th in the nation. This is an increase from 9.7 percent in 2015. Source: U.S. Census Bureau.

Rank in the top five for well-beingWell-being across the nation is measured by the following five elements: Sense of Purpose, Social Relationships, Financial Security, Relationship to Community, and Physical Health. In 2016, Wyoming decreased in rank from 5th to 12th place for well-being in the nation. Source: Gallup-Healthways Well-Being Index

Increase total property and sales tax collections by 35% Property taxes in Wyoming decreased by -19.15 percent and sales taxes decreased by -23.28 percent in 2016. Source: Wyoming Department of Revenue

Increase lodging and tourism related sales tax revenue generated by 35%Wyoming’s lodging and tourism related sales tax revenue decreased in 2016 by -1.72 percent. Source: Wyoming Department of Revenue

Increase jobs in advanced industries by 25%America’s advanced industries sector is comprised of a group of 50 (R&D) research & development and STEM (science-technology-engineering-mathematics) worker intensive industries. Advanced industry jobs in Wyoming decreased by -6.68 percent in 2016. Source: U.S. Bureau of Labor Statistics

DECREASING


BUSINESS READY COMMUNITYBUDGET

The Wyoming Business Council’s budget is funded on a biennium and includes a state appropriation, federal funds and special revenue funds. The fiscal year ends June 30. The budget includes 48 full-time positions and two units; the Wyoming Business Council and the Business Ready Community program.

Funding 17/18 Budget by Series

Personnel $9,557,458

Supportive Services$2,272,316

Central Services/Data Services$130,792

Grants$44,184,494

Loans$650,000

Contractual Services$7,279,239

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15

30

45

60

75

90

105

120

135

150

$-

$20

$40

$60

$80

$100

$120

$140

99/00 01/02 03/04 05/06 07/08 09/10 11/12 13/14 15/16 17/18

Num

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of

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loye

es

Bie

nniu

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Biennium

Wyoming Business CouncilBiennium Budgets vs. Staffing Levels

(Excludes One-time Appropriations thru Other Legislation)

Biennium Budget excl. BRC/CFP BRC & CFP Biennium Budget Number of Employees (FT & PT)

Historical Biennial Budgets and Staffing Levels(Excludes one-time appropriations thru other legislation)

$56,097,068

$1,741,200

$-

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

$70,000,000

Funding 17/18 Budget

General Fund Federal Fund Other Fund

$6,236,031


ORGANIZATIONAL OVERVIEW

Executive

PerformanceOperationsStrategy

Development

Regional Delivery and Local Partners

BusinessAgribusiness

FinanceIndustries

Markets Marketing

Technical Assistance

Recruit

Expand

Grow

Quality of Life

Infrastructure

Workforce

Leadership

CommunityCommunity Development Downtowns Energy EfficiencyFinance

WEDAMain Street Advisory BoardChambers

Business Resource Network

IndustryBusinessTechnologyCommunityMarkets

2017 Employees by Division(Not including special funded positions)

45 TOTAL

BUSINESS

COMMUNITY

PERFORMANCE

STRATEGY

OPERATIONS

DELIVERY

EXECUTIVE

14

8

3

3

8

6

3


Executive and Board of Directors Composed of three Chief Officers and the Board of Directors. This team directs strategic operations, budgets, develops policy and works closely with ENDOW’s Executive Committee. 2017 Accomplishments: The team created advisory groups to oversee the agency’s 10-year plan; conducted a baseline analysis of Wyoming’s infrastructure and socioeconomic position; and forged new partnerships.

Development The Development team is three individuals aimed at developing strategic performance goals and implementing plans in community and business development. This team identifies and optimizes economic development opportunities for Wyoming with industry, business, technology, communities and markets. 2017 Accomplishments: This team advanced the WBC 10-year strategy for community and business development, including housing reports by county, broadband speed information, business development and innovation zones and a review of financial mechanisms.

Performance The Performance team has three data and research professionals charged with measuring WBC performances and economic indicators. This team develops economic impact analyses, computes program returns on investment figures and tracks WBC client activity. 2017 Accomplishments: Created more effective uses of databases and systems to track performance.

Operations The operations team is composed of nine employees who carry out multiple functions for the organization: people and teams, budgets and accounting, administration, facilities and information technology. 2017 Accomplishments: Created an electronic contract management system and led the state in online streaming of public meetings.

Regional Delivery & Local Partners Regional delivery is done by six employees. Regional directors implement programs and partner with local communities to address economic development needs. Regional efforts include business and community development assistance, outreach and lead development. 2017 Accomplishments: Consolidated from seven to six directors to better align with regional needs while maintaining a high level of service.

Business Development In Business Development, 14 team members and the Business Resource Network lead statewide business advancement efforts. The team creates and implements focused development efforts for agribusiness, finance, markets, exports markets, industries and marketing. 2017 Accomplishments: Widened the business recruiting pipeline, found new ways to reach industry executives and focused attention on agribusiness.

Community Development A team of eight manages Business Ready Community grants and loans, and the Community Development Block Grant, Wyoming Main Street and energy efficiency programs. 2017 Accomplishments: Designed a grant funding allocation plan and created a new Main Street grant for placemaking projects.

ORGANIZATIONAL FUNCTIONS


Our regional directors partner with local economic development organizations, city and county entities and the Wyoming business community to assist and support retention, expansion, recruitment and community development efforts.

Wyoming Business Council Regional Offices

REGIONAL OFFICES

Northwest Big Horn // Hot Springs // Park // Washakie

South Central Fremont // Sweetwater

West Lincoln // Sublette // Teton // Uinta

Northeast Campbell // Crook // Johnson // Sheridan // Weston

East Central Converse // Natrona // Niobrara // Platte

Southeast Albany // Carbon // Goshen // Laramie

NortheastRegion

East CentralRegion

SoutheastRegion

South CentralRegion

NorthwestRegion

WestRegion


BUSINESS READY COMMUNITYBUSINESS READY COMMUNITY GRANT AND LOAN PROGRAM

Business CommittedA project in which an applicant has a business committed to start-up, expand, locate or retain jobs in the community. New primary jobs will be created or retained at or above the county mean and/or median wages and/or improve community and economic capacity.

Community ReadinessThe applicant wants to build infrastructure to ready itself for new business development under a specific strategy or plan of action; for example, development of a business or industrial park, downtown development or facilities for labor or entrepreneurial training. Applicant must demonstrate potential exists for creation of new primary jobs.

Community EnhancementA project in which applicant wants to improve the community’s aesthetic character or quality of life in order to make itself more attractive for business development or workforce attraction and/or retention under a specific strategy or plan of action; for example, landscaping, recreational, convention facilities, community centers, senior and/or child care infrastructure.

PlanningA project in which an applicant creates or further develops a community’s economic development strategy and outlines an implementation plan.

2017 BRC Allocation Totals

Base funding for the 17/18 biennium for BRC was $38,588,050.

Purpose of Allocation Plan• Ensure funds are

available throughout the biennium for opportunities as they arise.

• Allow WBC Board to set and communicate priorities for funding specific project types.

Business Committetd Community Readiness

Community Enhancement Planning

$7,938,463

$6,880,001

$2,646,154

$176,410

2017 BRC FUNDS: $17,614,028

Find county BRC investment information at wyomingbusiness.org

Lincoln County$16,234,474

LOCAL MATCH FUNDING

24BUSINESSES ASSISTED

$9,275,361PRIVATE INVESTMENT

$25,281,144BRC FUNDING

56JOBS CREATED

PERFORMANCE

EXAMPLE:


Recent BRC projects

Tungsten Heavy Powder and Parts moved Chinese manufacturing facilities to Laramie and opened in February 2017. The company has already purchased an adjacent building and is constructing a 9,000 square-foot addition to the original facility.

Wyoming Malting Company, in Pine Bluffs, opened the state’s first craft malthouse to provide new markets for barley growers and local ingredients to Wyoming brewers.

David Street Station welcomed tens of thousands of eclipse watchers in August and spurred millions in private investment in downtown Casper.

Sheridan Hallmark Building introduced an expanded lobby and restored exterior to the public. Performers now enjoy more rehearsal and classroom areas and more storage space.

Rock Springs-Sweetwater County Airport demolished its nearly century-old terminal and hangar. The new facility is expected to double general aviation’s economic impact to the area.

Sweetwater Events Complex expanded its infrastructure, which will permanently position the county as a rotating host of the National High School Finals Rodeo. The event showers the business community with millions in revenue.

HiViz Shooting Systems began construction on a 20,000 square-foot expansion. The company expects to add 20 new workers by 2021.

BUSINESS READY COMMUNITYBUSINESS READY COMMUNITYBUSINESS READY COMMUNITY GRANT AND LOAN PROGRAM

MANUFACTURING RECRUITMENT

AIR SERVICE

TOURISM

MANUFACTURING RECRUITMENT AND EXPANSION

VALUE-ADDED AG

QUALITY OF LIFE

QUALITY OF LIFE


Big Hollow Food Co-op will expand into a lot left vacant in downtown Laramie for years following a devastating fire. The business anticipates annual growth of 12 percent the next five years.

The Old Pen will convert some of the Historic Guards Quarters into new offices to accommodate the Carbon County Visitors Council and spec retail space.

Wyoming Authentic Products, of Cody, is expanding so it can increase production of Wyoming-produced beef products 163 percent and add 10 jobs by 2020.

Bar Nunn will have a new interchange on I-25 to improve access to the Bar Nunn Industrial Park and improve traffic flow for residents.

Old Stoney will be renovated to improve Sundance’s Main Street and create new retail and office space for future business.

The Advanced Carbon Products Innovation Center will provide research space and raw material for the study of nonenergy uses of coal in Gillette.

INNOVATION

COMMUNITY GROWTH

QUALITY OF LIFE

DOWNTOWN

TOURISM

VALUE-ADDED AG

Every dollar invested in BRC projects leverages $3.49

in private funding. Wyoming Business Council 2017 Annual Report 13


Wyoming Main Street Communities• Buffalo• Cheyenne• Evanston• Gillette• Green River

• Laramie• Rawlins• Rock Springs• Sheridan• Douglas

• Glenrock• Platte County• Pinedale• Sundance• Thermopolis

33$13.3

228$682,148

28,258

BUSINESS READY COMMUNITYWYOMING MAIN STREET

Every dollar invested in the Wyoming Main Street

program returns $3.22.

That’s a 180% increase since last year.


BUSINESS READY COMMUNITYBUSINESS FINANCING

The Wyoming Small Business Investment Credit (SBIC) program provides alternative sources of capital to qualifying Wyoming businesses and entrepreneurs. In 2010, the Wyoming Legislature allocated $30 million to the program in the form of tax credits. The funds are managed by private investment companies certified and regulated by the WBC to make investments in Wyoming businesses. The WBC qualifies participating businesses, manages and markets the program and provides reports to the Legislature.

Small Business Investment Credit

• Has invested $20,074,233 in Wyoming companies.

• Leveraged $17,812,874 in follow-on capital. • Helped create 121 jobs. • Financed 17 businesses in 14 industries.

Challenge Loan

• Approved 23 loans to Wyoming Sugar growers for $4,482,675 - supporting 26 direct and indirect positions and $6,660,640 in annual economic impact on Washakie County.

• Approved 31 loans to Western Sugar growers for $3,259,900 - supporting 17 direct positions and $6,881,720 in annual economic impact on Park and Big Horn Counties.

• Approved 1 new Challenge Bridge Loan to WYCO Recycling (Cheyenne) for $141,859.

$7,884,434Total Challenge

Loan money committed

(calendar year 2017)

$187,500Approved 1 new Value-Added Ag

Loan to Wyoming Authentic Products

Every dollar invested in the SBIC program returns $1.29.


Large Loans Approved to date

Atlas Carbon$15,000,000 from Large Loan Fund

Cody Labs $10,000,000 from Large Loan Fund. $13,000,000 from

Challenge Loan



BUSINESS READY COMMUNITYBUSINESS RESOURCE NETWORK (BRN)

Every WBC dollar invested in the BRN returns $1.43.


Wyoming Small Business Development Center Network WBC FUNDING: 763,778 Provides business advising, consultation, marketing assistance, training services and market research.

Manufacturing-Works WBC FUNDING: $572,353 Provides project management, business advising, consultation, marketing assistance and training services.

Wyoming Technology Business Center WBC FUNDING: $429,150 Provides business incubation services, shared resources and consultation to startups.

Market Research Center WBC FUNDING: $292,476 Provides small businesses with access to sophisticated resources.

Wyoming SBIR/STTR Initiative WBC FUNDING: $235,628 Provides grants and consultation to companies applying for federal SBIR/STTR research grants.

Procurement Technical Assistance Center WBC FUNDING: $133,887 Assists Wyoming firms with identifying and securing federal, state, and local government contracting opportunities.

Wyoming Technology Transfer Office WBC FUNDING: $75,795 Assists any Wyoming entrepreneur or inventor across the state.

PERFORMANCE2016 2017

New Jobs 642 956

New Payroll $25,651,341 $34,469,273

New Taxable Equipment $12,875,064 $12,608,402

New Non-Taxable Equipment $4,923,188 $2,820,057

New Taxable Sales $8,182,380 $700,000

$2,503,067Total WBC funds for BRN



BUSINESS READY COMMUNITYENDOW

Economically Needed Diversity Options for Wyoming (ENDOW) is an initiative to coordinate and expand economic diversification efforts across the state. The initiative’s mission is to deliver measurable results that lead to a more resilient Wyoming economy in 20 years. The ENDOW Executive Council’s plan is due to the Governor and Legislature by Aug. 1, 2018.

ENDOW is an umbrella for many state agencies and partners including:

"The mission of ENDOW is greater than any one agency.

ENDOW aligns the efforts and investment of economic

developmnet, workforce development and education."

-Shawn ReeseCEO, Wyoming Business Council


2017 Activities

• Compiled statewide infrastructure baseline maps• Developed detailed socioeconomic study for ENDOW including GDP

contributions by 14 sectors, enablers, barriers, incentives, opportunities and emerging trends

• Developed 3-zone Business and Development Innovation Zone concept for ENDOW

Looking Ahead

• Energy upstream diversification strategy• Wind energy business development opportunities for Wyoming

Companies

Goals: • Expand value-added opportunities for at least three resource bases • Increase industrial readiness

BUSINESS READY COMMUNITYINDUSTRIAL DEVELOPMENT

Business Development and Innovation Zone Concepts Under Review by ENDOW Executive Council

Innovation Centers

Industrial Focus Zones

Regional Opportunity Areas

Innovation Centers



Innovation Centers



Innovation Centers


Regional Opportunity AreasRegional Opportunity Areas


Innovation Centers

Focus on Sectors l Collaborate Find Solutions

Expand l RecruitAdd Value to Resources

Innovate l Start l Build

Ensure industry has what it needs to grow and

thrive in their region, and create environments that are attractive to out-of-

state companies.

Add value to resources and hedge boom bust

cycles by recruiting and expanding industrial

companies.

Accelerate development of an entrepreneurial

ecosystem.

Regions in which industry-led, community supported partnerships

are formed that strengthen regional

economies and connect people to jobs.

>50 square-mile areas that are pre-permitted

for anticipated industrial uses, and provide infrastructure that

enables industry success.

Physical places that attract innovative

talent, investment and businesses, and provide services, infrastructure

and tools to help startups succeeds.

WHY

WHAT


Goals: Encourage business starts, grow jobs and profitability, attract world-class companies and assist expansion of small businesses

2017 Activities

• Business Recruitment Strategy• Techonolgy Company Interviews

Looking Ahead

• New education, workforce development and economic development partnerships to put industry at the center of the table and solve problems to grow and expand sectors and create jobs

Business Recruitment Strategy

In 2017, the Wyoming Business Council developed a business

recruitment and expansion “business/sales funnel” to increase prospects,

develop leads, and grown wins.

PROSPECTS3,500

350

35

4

LEADS

CLIENTS

WINS

BUSINESS READY COMMUNITYBUSINESS DEVELOPMENT

The WBC interviewed nearly a quarter of Wyoming’s 170 outdoor recreation companies. The analysis will help shape the WBC’s actions to grow this industry

Recruitment was a common concern among outdoor recreation businesses.

• 56% of primary companies interviewed reported they have problems with recruiting talent, with 78% stating that those recruitment problems are primarily related to their community (versus the industry).

• Half of the primary companies stated they have problems recruiting administrative/clerical positions, 25% of businesses have difficulties finding motivated employees, and the remaining 25% stated their recruitment problems are based on lack of affordable housing within their community.

Outdoor Recreation Industry Report

Secondary companies in the outdoor recreation industry also have some difficulty with recruitment. 33% of companies surveyed have difficulty filling skilled production positions. Other common responses included difficulty finding management/marketing/sales and unskilled production.


Goals: Grow the technology sector to become a significant industry in the state and improve business innovation, research and commercialization.

2017 Activities

• Developed an understanding of broadband speeds

• Contracted with the Wyoming Business Alliance to form a broadband work group to develop recommendations for ENDOW

Looking Ahead

• Increased coordination and mapping of broadband speeds• Focus on un-served and under-served areas

BUSINESS READY COMMUNITYTECHNOLOGY DEVELOPMENT

broadbandnow.com/wyoming, Accessed 1/31/2018

25+ mpbs 100+ mpbs 1 Gbit

Internet Access In Wyoming

More Access Less Access

Broadband Speed 25Mbps 100Mbps 1Gbps

Access Technology VDSL - ADSL2 Optical Network Optical Network

Last Mile Infrastructure Required

Copper / Coaxial Cable /

Wireless

Coaxial Cable / Fiber Optics

Coaxial Cable / Fiber Optics

Coverage Distance < 0.625 mile => 3.2 mile => 5 mile

Services Delivered Video on Demand, HDTV Gaming

Live TV, Video on Demand, HDTV,

Streaming, Multiple HDTV, HDTV Gaming

Live TV, Video on Demand, HDTV,

Streaming, Multiple HDTV, HDTV Gaming

Time to Download Netflix HD Movie

30 minutes 4 minutes Instantly

Time to Download Song

1.5 seconds .3 seconds .03 seconds

Small Business Size Estimate*

5-25 people 25-100 people 100+ people


Goals: Improve the livability of communities and grow and sustain economic development efforts.

2017 Activities

Lighter, Cheaper, Faster• Wyoming Main Street

introduced a concept called “placemaking,” where communities create low-cost, welcoming, safe and interesting gathering places such as pop-up parks or small concerts.

County Housing Reports• Wyoming is a largely rural state and doesn’t fit into the uniform

affordable and available housing funding solutions created by the federal government. In 2017, the Wyoming Business Council and partner agencies and stakeholders collected county-by-county hard data to begin finding ways to develop Wyoming solutions.

Looking Ahead

• Local tourism tool box• Community health care initiatives

BUSINESS READY COMMUNITYCOMMUNITY DEVELOPMENT

We’ve got an app for that• The Wyoming Business Council partnered with

seven Wyoming communities and Jackson audio tour mobile app start-up TravelStorys in 2017 to create WY Tour. The project links with strategies to get travelers to pull over, spend time in Wyoming communities and increase sales tax revenue.

Housing StockNiobrara County

average housing age

60 Years

Wyoming's average housing age

42 Years78% of housing in Niobrara County was

built before 1980

Find county housing reports and success stories on wyomingbusiness.org

EXAMPLE:


Goals: Increase foreign investment in Wyoming and increase international trade

2017 Accomplishments

• Increased export training• Trade Missions to Mexico, Canada and Taiwan• Trade Assistance

Partners: Business Resource Network, the Western United States Agricultural Trade Association, the United States Livestock Genetics Exports organization, and the U.S. Small Business Administration.

Grown In Wyoming• In 2017, the Wyoming Business Council launched

Grown in Wyoming, which will connect Wyoming food and fiber producers with retail opportunities such as restaurants, grocers, schools and farmers markets. Members to the program benefit from marketing, trade show assistance, export assistance, and exposure to new markets through consulting, promotion and brand campaigns.

BUSINESS READY COMMUNITYMARKET DEVELOPMENT

Looking Ahead

• We will provide customized experiences for companies interested in export. These include trade missions to meet directly with buyers interested in the company’s products, trade assistance for trade shows, market research, and product labeling, and training from nationally-recognized experts on how best to penetrate a new market or expand your share in a current market.

• Build out the Grown in Wyoming membership and outreach to restaurants, farmers markets, retailers and grocery stores

Seaton Smith, president of Powell-based GF Harvest, works the booth during Wyoming’s STEP trade mission to Mexico City in July 2017.


Wyoming has great business and economic development stories to tell, and whether it’s print, online or video, the Wyoming Business Council spread the news locally, nationally and globally in 2017:• The WBC was one of five state economic development

agencies to win Development Counselors International’s (DCI) “Social Superstar of Economic Development” award in the Facebook category. DCI is a leading economic development marketing agency.

• Our Facebook page gained 1,105 followers in 2017, and surpassed 9,000 followers overall.

• Our Twitter feed gained 741 followers, and surpassed 6,000 overall.

• Our increased emphasis on LinkedIn led to 542 new followers, and we now have 1,874 overall.

• Audiences watched 1,075 hours of staff-created videos on our YouTube channel – the equivalent of 45 days.

• Our monthly e-newsletter gained 3,695 subscribers, giving us 6,227 overall.

BUSINESS READY COMMUNITYMARKETING ANDCOMMUNICATIONS

Our redesigned website generated 167,761 page views in 2017.

wyomingbusiness.org


wyomingbusiness.orgFacebook // Twitter // LinkedIn // Youtube // Instagram

BOARD OF DIRECTORS

Gov. Matthew H. Mead, Co-Chairman CHEYENNE, WY

Cactus Covello, Co-Chairman TORRINGTON, WY

Pete Illoway, Vice-Chairman CHEYENNE, WY

Megan Overmann Goetz, Secretary/TreasurerLARAMIE, WY

Jay AndersonLYMAN, WY

Jerry BlannJACKSON, WY

Kim DeVoreCASPER, WY

Mike EasleySUNDANCE, WY

Ron Harvey WORLAND, WY

Greg HillWILSON, WY

Allen Hoopes FREEDOM, WY

Ronald KenseySHERIDAN, WY

Kelly Lockhart JACKSON, WY

Aaron SopkoSHERIDAN, WY

Mike Sullivan CHEYENNE, WY

Mike WandlerGILLETTE, WY

Documents

Wyoming Business Council Benchmarks and Annual Report · Wyoming Business Council 2017 Annual Report 5 ECONOMIC BENCHMARKS Five-Year Targets and Benchmarks (Rankings out of 50 states)