Economy

Wyoming Bureau of Land Management attribution 2.0 generic (CC by 2.0)

Jim Robinson, principal economist for the Wyoming Economic Analysis Division, said when he looks at Wyoming's economy in the coming year, it's not going to bring news that anyone wants to hear. 

Wyoming Humanities

Wyoming has been working towards economic diversification and one way to do that is to make Wyoming's culture, arts and humanities programs a bigger part of the effort. Recently the former CEO of the Wyoming Business Council, Shawn Reese, joined Wyoming Humanities to further this effort. The Director of Wyoming Humanities is Shannon Smith and she and Reese explain the idea to Wyoming Public Radio's Bob Beck.

The Mountain West is home to some of the top performing metro economies in 2019, according to a recent report by Area Development magazine, a publication focused on corporate site selection.

Topping the magazine’s overall rankings is Reno, Nevada, which, as the report notes, boasts a total employment rate more than triple the national average.

Energy Capital Economic Development

Energy Capital Economic Development has announced Curtis Burdette as its new vice president of operations.

As minimum wage goes up, suicide rates go down. That’s according to a new study published in the Journal of Epidemiology and Community Health.

The study found that increasing minimum wage by a dollar actually decreased the rate of suicide by 3.4% to 5.9% among those with a high school diploma or less. That is, those most likely working minimum-wage jobs.

New research shows that you don’t need a big population to foster innovation.

 


Net US greenhouse gas emissions by sector
Rhodium Group

Preliminary data shows U.S. greenhouse gas emissions fell 2.1 percent in 2019 following a spike in 2018.

A report put together by the Rhodium Group, an independent research provider, estimates emissions actually increased in nearly every sector except for the energy industry.

Wikipedia Commons, Isaiah979

Adidas' Yeezy line has picked out a property in Cody for its sample-prototype lab. Kanye West's fashion brand has plans to convert the Cody Labs warehouse.

Public Domain license

It's already been a noteworthy season for Steamboat Ski Resort in Northern Colorado. In October alone, the mountain saw 63 inches of snow, a record high. And that's why the resort's Loryn Duke said it was an easy decision to open on November 15—it's earliest opening ever.

The U.S. economy has been growing at a steady pace for years. But on the county level, across the country and especially in the Mountain West, changes in gross domestic product, or GDP, vary widely.

The United States added more than 200,000 jobs last month, according to the latest report from the Bureau of Labor Statistics. While wages and jobs are growing in the Mountain West, they aren’t outpacing the skyrocketing cost of housing. 

U.S. household debt is on the rise again. And states in the Mountain West are seeing some of the highest levels in the country.

Four likely scenarios forecasting the next few years
Rob Godby

Gov. Mark Gordon announced an effort called Power Wyoming this week to study new revenue scenarios for Wyoming. The group presented data to the legislature's Joint Revenue Committee showing the state can no longer rely on revenues from the energy industry.

Moody’s Analytics just looked at the economic consequences of a report by Blue Cross Blue Shield on millennial health. And it’s not good.   

U.S. Bureau of Economic Analysis

The total value of Wyoming's outdoor recreation economy was $1.6 billion in 2017. That's according to recently released numbers from the U.S Bureau of Economic Analysis.

KAMILA KUDELSKA

For a long time, ski resorts in the Mountain West were able to reach a full staff just by offering employees a season pass. It was the kind of deal a ski bum couldn't turn down.

A new analysis from the Bozeman-based non-profit Headwaters Economics shows that the outdoor recreation industry is growing more than twice as fast as the overall economy, and the industry has an especially outsized role in the Mountain West.

The Mountain West will be getting at least two new Amazon warehouses this year, including Idaho’s first in Nampa.

Personal income is on the rise across the country, and some of the biggest increases are in Mountain West states, according to data published last week by the U.S. Bureau of Economic Analysis.

Steamboat Springs, like many of Colorado's high country resort communities, is grappling with how it wants to grow.

The city itself has more than doubled in population since 1990. Seasonal tourist booms formerly contained to summer and winter have bled over into spring and fall. With its increasingly sought after outdoor amenities, like hot springs, camping, hiking, mountain biking and skiing, the town swells with visitors most weekends out of the year.

money
CC0 Public Domain

Wyoming's personal income has increased by 6 percent in the second quarter of this year. The increase is higher than both the region and the rest of the country.

California is king of U.S. agriculture. But on a per capita basis, no state brings in more farm revenue than Idaho.


Cody Community Review

Cody is participating in the Community Review Project. The project is meant to help local leaders develop future goals. The Wyoming Business Council and the University of Wyoming Extension Office collaborated to launch the survey.

Immigrants make up more than ten percent of the population in our region. And according to a report, that can provide big economic benefits.

A recent report looking at the best states to work in doesn't show the Mountain West in a particularly good light. Only one state in our region ranked in the top half.

Wikimedia Commons

The U.S. Department of Commerce has awarded a Campbell County organization a grant aimed at diversifying the economy.

Since the Great Recession, personal income and jobs have grown across the country and throughout our region. But that growth is uneven.

Cody Labs

On June 11, the parent company of Cody Labs, the Philadelphia-based Lannette Company announced it will be closing down its operations in Cody. This came as a shock to the community. The business development agency Forward Cody was at the forefront, trying to keep the company open.

Catherine Wheeler

In January 2018, gun manufacturer Weatherby announced it was moving from its home in California and resettling in Sheridan. The company makes rifles, shotguns and ammunition. The move signified a chance for more economic diversification in the Sheridan area. Last month, Weatherby opened for business north of downtown. Wyoming Public Radio's Catherine Wheeler asked owner and CEO Adam Weatherby why he decided to move the business to Wyoming.

HEBER CITY — Tucked below the jagged, snowy Wasatch range 20 miles south of Park City, the Heber Valley looks like a miniature Switzerland. Dairy cows graze in bright green pastures and a small farm sells artisan cheeses and milk. 

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