Dear editor,
Our industries and small businesses throughout Wyoming add value to our state, families, and communities. They are the heartbeat of our towns and cities, providing the economic foundation on which our communities thrive. They also offer opportunities for the next generation to plant roots and succeed.
Our legacy industries, such as oil and gas, ranching, tourism, mining, coal and farming, are the bedrock of our state economy and will continue to be its foundation. Diversifying our economy adds stability and provides an array of jobs, attracting the next generation with opportunities to prosper and continue to live in Wyoming.
Renewables and renewable energy technology add value to our economy, ranching families and communities. Projected wind projects will bring almost 10 billion dollars of investment to Wyoming. Hundreds of millions will be collected in property, sales and use, and generation taxes, totaling over 1.6 billion dollars.
An average of $11 million annually is paid in land lease payments from wind farms to Wyoming family ranchers and farms. This supplemental income helps ensure Wyoming ranching families continue to ranch and farm for generations to come.
According to the latest Consensus Revenue Estimate Group Report, “year-to-date sales tax collections have been quite strong… largely driven by new wind power projects in Albany County…” bringing substantial revenues to communities in Wyoming.
These value-added benefits from renewables mean supporting a diverse, robust economy through legacy industries and new innovations, technologies, and industries, placing Wyoming in the best position moving forward.
Our future depends on remaining competitive and keeping Wyoming open for business by not picking winners and losers regarding industries. All industries and innovation bring value to Wyoming, its communities and families.
While Wyoming has always been an energy powerhouse, we are exporting fewer Megawatts than in 1990. Neighboring states such as North and South Dakota, Utah, Nebraska, Colorado, and Arizona are bringing in new projects as quickly as possible. Being ranked as the #1 tax-friendly state for business is a huge incentive, but we must work hard to bring businesses to Wyoming. We cannot afford to give business to our neighboring states when creating high-paying jobs, establishing new industry projects, and increasing our revenue, which is essential to a strong future in the decades to come.
As the legislative interim session approaches, our support for keeping Wyoming open for business and thriving must be a priority. It is critical to our communities, our ranching and farming families, and our state’s economy.
Chris Brown, Executive Director, Powering Up Wyoming
