Wyoming Business Council

Wyoming Business Council
Name	Wyoming Business Council
Formed	1988
Jurisdiction	Cheyenne, Wyoming
Headquarters	Cheyenne, Wyoming
Parent agency	State of Wyoming

Wyoming Business Council is the primary economic development organization for the State of Wyoming. It serves as a public entity offering business financing, development programs, and community planning across Laramie County, Teton County, and other localities such as Casper, Gillette, Sheridan, Wyoming, and Rock Springs, Wyoming. The Council operates within a network of state agencies, regional development groups, and federal partners including U.S. Economic Development Administration, United States Department of Agriculture, and Small Business Administration.

History

The agency traces origins to statewide efforts in the late 20th century to diversify industries beyond coal and oil and gas production, aligning with initiatives seen in other states such as Montana Department of Commerce and North Dakota Department of Commerce. Legislative actions in the 1980s and 1990s shaped its mandate alongside statutes like the Wyoming Statutes. The Council's programs evolved during periods marked by commodity price shocks tied to events including the 1973 oil crisis aftermath and the 2008 financial crisis. Partnerships and memoranda with institutions such as University of Wyoming, Wyoming Workforce Development Council, and tribal governments including the Wind River Indian Reservation influenced regional projects in communities like Lander, Wyoming and Kemmerer. Over time the Council adopted strategies similar to models used by the Economic Development Administration (EDA) and the National Governors Association economic committees.

Organization and Governance

The Council is structured with an appointed board and executive leadership reflecting appointments by the Governor of Wyoming. Governance includes coordination with the Wyoming Legislature, the State Auditor of Wyoming, and state executive offices. Committees have included those focused on community revitalization, workforce, and industry development similar to advisory panels used by the Montana Board of Investments and the Idaho Department of Commerce. Regional collaboration occurs with entities like the Powell Economic Development Corporation and metropolitan planning organizations in areas such as Cody, Wyoming and the Jackson Hole Chamber of Commerce. Internal divisions correspond to functions found in organizations such as the Alaska Industrial Development and Export Authority, covering business finance, tourism, and community planning.

Programs and Services

Programs have included loan funds, grant awards, infrastructure financing, and entrepreneurial assistance comparable to services offered by the Oregon Business Development Department and Colorado Office of Economic Development. Key offerings target small businesses, technology commercialization, and rural revitalization aligning with national programs like the Rural Business-Cooperative Service and initiatives of the National Rural Development Partnership. The Council administers incentive packages for industries including advanced manufacturing, outdoor recreation, and renewable energy, often coordinating with agencies such as the U.S. Department of Energy and the National Renewable Energy Laboratory. Workforce training efforts link to Wyoming Community College Commission programs and collaborations with institutions like Central Wyoming College and Northwest College (Wyoming). Tourism marketing and place-making efforts intersect with stakeholders such as the Jackson Hole Airport and cultural institutions like the Buffalo Bill Center of the West.

Economic Impact and Projects

Projects range from downtown revitalization in towns like Laramie, Wyoming and Evanston, Wyoming to large-scale site development for manufacturing in regions near Casper–Natrona County International Airport and Cheyenne Regional Airport. The Council played roles in initiatives connected to energy transition projects influenced by global events such as the Paris Agreement and collaborations with companies including those in the renewable sector like Vestas-type manufacturers and supply-chain partners akin to Siemens. Agricultural and value-added food projects included partnerships with U.S. Department of Agriculture programming and local producers in counties such as Sweetwater County and Albany County. The Council’s economic metrics are often compared with outcomes from organizations like the Montana Governor's Office of Economic Development and reports from the Bureau of Labor Statistics and United States Census Bureau for metrics on employment in metropolitan and micropolitan areas such as Sheridan, Wyoming (micropolitan area).

Funding and Budget

Funding streams include state appropriations from the Wyoming Legislature, federal grants from entities such as the Economic Development Administration and the U.S. Department of Agriculture Rural Development, and revolving loan repayments similar to mechanisms used by the New Mexico Economic Development Department. Budget allocations have been subject to legislative oversight by committees comparable to the Wyoming Joint Appropriations Committee and audits by officials like the Wyoming State Auditor. Capital projects sometimes leverage tax increment financing models and infrastructure grants paralleling approaches in states like Utah Governor's Office of Economic Development and Nevada Governor's Office of Economic Development.

Criticism and Controversies

Critiques have focused on allocation of incentives, transparency, and effectiveness, echoing debates seen with agencies such as the Kansas Department of Commerce and the Indiana Economic Development Corporation. Controversial topics have included disputes over performance metrics, project selection akin to controversies involving Foxconn-type incentives in other states, and concerns raised by local governments and civic groups in places like Gillette, Wyoming and Jackson, Wyoming. Legislative inquiries and media coverage have invoked comparisons to oversight challenges addressed in reports by organizations such as the Pew Charitable Trusts and watchdogs affiliated with the Government Accountability Office.

Category:State agencies of Wyoming Category:Economic development organizations in the United States