While the pandemic and reduction in natural resources production created revenue concerns in Wyoming, the state offset some of the losses by remaining open at a time when others were in lockdown. Traditional industries performed well in 2021, and growth in advanced manufacturing and nuclear innovation offers new opportunities. The Equality State is now cultivating new opportunities with several initiatives such as the Wyoming Innovation Center in Gillette, which is focused on developing advanced carbon products using coal and coal byproducts as a raw material.
No Taxes: No corporate or personal income tax. No inventory, franchise, occupation or value-added taxes.
Business Ready Community Infrastructure Program: Offers financing of up to $3 million in grants or low-interest loans for publicly owned infrastructure that serves the needs of business and promotes economic development.
Workforce Development Training Fund: Offers grants up to $4,000 per trainee per fiscal year to upgrade skills, train for new positions, or provide industry-specific training programs.
Data Center Incentives: Offers cost reduction grants of up to $2.25 million to reimburse utility expenses for up to three years. Data centers are also exempt from Industrial Siting permit, which can shave $500,000 and 18 months off new projects.
Cryptocurrencies: Legislation passed in 2018 created a financial “sandbox” by allowing companies to apply for a two-year exemption from state statute.
Wyoming Business Council
Greater Cheyenne Chamber of Commerce
In December 2020, the Wyoming Business Council launched the Thrive > Survive Campaign to spotlight resiliency stories from a variety of communities, programs and businesses. It aims to demonstrate how in Wyoming, innovation, elbow grease and working together can help communities and businesses grow stronger.