From the Governor
“Here in Wyoming, we will continue to seek innovative solutions that support coal, address climate change, and grow our economy… We in Wyoming are anxious to lead the way to a bright- er future, not by following political fashion, but by rolling up our sleeves, doubling down on research and innovation, and solving our world’s energy problems.” —Gov. Mark Gordon
Cowboys, Innovation and Cryptocurrencies
In addition to capitalizing on its natural resources, the Cowboy State is fueling new growth in tech and entrepreneurship. The KickStart: Wyoming initiative offers matching funds for federal SBIR awards, and hosts startup challenges around the state. Over the past couple of years, Wyoming has also enacted 13 laws to open the door for blockchain and cryptocurrency companies, making it one of the first states to define cryptocurrency as property and establish rules for banks to provide crypto custodial services.
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 grant or low-interest loan for publicly-owned infrastructure that serves the needs of business and promote 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 represent a savings of $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: wyomingbusiness.org
Wyoming Department of Administration & Information Economic Analysis Division: eadiv.state.wy.us
Cheyenne LEADS: cheyenneleads.org
Greater Cheyenne Chamber of Commerce: cheyennechamber.org
Advance Casper: caeda.net
Highlighted Program or Initiative
Wyoming is trying to strengthen its startup space by offering funds for the federal Small Business Innovation Research or Small Business Technology Transfer programs, up to $100,000 for Phase 1 and up to $200,000 for Phase 2. In addition, the Wyoming Business Council also offers up to $25,000 in matching grants to local “Pitch Day” startup challenges.
- Weatherby created 70 jobs and opened a 100,000-square-foot facility in Sheridan in June 2019.
- Department of Defense contractor Kennon Products announced in January 2019 it would create 39 jobs at a new manufacturing facility in Sheridan.
- Innovive announced in June 2019 it would create 94 jobs at a new $17 million manufacturing facility in Cheyenne.
- Enviremedial Services, which relocated its manufacturing operations from California to Pinedal, announced 21 new jobs at another expansion in April 2019.
Rocky Mountain Power
Cloud Peak Energy
Sierra Trading Post
“Wyoming stood out for a lot of reasons, and one of the main ones was that from the get-go, when we met the governor, he said ‘Here’s my number, shoot me a text any time.’ He responds to our needs quickly, and it shows a business like ours is important to Wyoming and that’s a big deal here.” —Adam Weatherby, CEO, Weatherby
“Wyoming in general is really business-friendly. Sales tax is much lower than everywhere else and we don’t have to worry about corporate tax, income tax. There’s not a lot of that headache of things getting tied up in regulation.” —Trajan Vieira, Owner, Mercury Leather Works
“Wyoming was very quick to come to the table. The whole approach by the state was very positive and we felt at home right away.” —Joe Sery, Founder, Tungsten Heavy Powder & Parts