ABB 2006/7 | State Profiles | Western region | Wyoming | Profile

Have you ever thought of expanding or relocating your business in the US? Now you can work on where you want to live – in Wyoming, the New West. Located in the heart of the Rocky Mountain region, Wyoming is like no other place on Earth. The Great Plains meet the Rocky Mountains in Wyoming. The state’s picturesque scenery varies from high plains to rugged mountains; wide-open grasslands to dense forests; and sandy deserts to rivers and lakes. With an estimated 509,294 living in 251,697 sq km, Wyoming means less traffic, less stress and less congestion for residents and businesses.

The state’s business-friendly benefits include an excellent tax structure; low energy costs; educated workforce; low operating costs and easy access to major markets. It als0 offers outstanding recreational opportunities and safe communities. In Wyoming, the Old West merges with the 21st century. High-tech entrepreneurs create equipment for NASA in one region, while ranchers in another area use computer chips to track cattle grazing in a field. Miners in the Southwest extract soda ash used to make glass and cat litter, while retail outlets sell clothing worldwide through catalogue and Internet sales.

Pancake Breakfast

The number of manufacturing and up-and-coming, high-tech companies grows each year. In addition to large manufacturing and high-tech companies, the state supports free enterprise, ranking as the third best state in the US for small business and entrepreneurship. Wyoming is also one of the fastest growing states for female-owned firms, according to a report from the Center for Women’s Business Research. Wyoming offers a business climate that is the envy of most states because it has no personal or corporate state income tax. In 2006, the Tax Foundation ranked Wyoming as the most tax-friendly state for businesses.

Residents also benefit from the tax structure, with the state offering the second lowest personal tax burden in the nation, according to the Wyoming Taxpayers Association. Mineral production ends up paying 94.4% of all “property taxes” paid to the State of Wyoming. In the US, Wyoming ranks first in coal production; first in coal reserves; first in uranium source; first in soda ash production; first in bentonite production; third in natural gas reserves; fifth in natural gas production; seventh in oil reserves; seventh in crude oil production; and seventh in potential wind energy. Wyoming truly is the energy capital of the US.

The state invests much of the money it receives from the mineral industry and sinks it back in to building infrastructure to help make it business-ready. In the last few years, it has invested $29m in a state-wide, high-speed telecommunications network and over $53m in improving publicly-owned infrastructure. It also reinvests much of its money into the education system. Today’s diverse Wyoming workforce is educated and skilled because the state dedicates many resources to producing the next generation of highly qualified workers. The educational system offers much to its workforce, with a premier four-year state university, seven community colleges and a nationally-renowned vocational school.

The diversity of Wyoming’s workforce today not only includes educated and skilled individuals, but also people leading the way for the next generation of highly qualified workers. High education standards, a strong work ethic and effective workforce development programmes reinforce the abilities of the state’s workers.

Yellowstone Canyon and River. Yellowstone National Park

Wyoming is among the top 10 states for the percentage of adults with Internet access and technology in schools. Approximately 80% of residents have broadband access. In addition, Wyoming ranks fourth in per capita funding of public education and third for high school completion rates. In July 2006, Wyoming had the fourth highest ranking educated workforce in the nation and ranked first as the most educated state in the Rocky Mountain region. In 2006, the Wyoming Legislature approved the Hathaway scholarship programme, which will provide an incentive for Wyoming students to pursue postsecondary education within the state. The programme has an appropriation of $13.5m to pay for its first two years while a planned $400m endowment builds up.

The endowment is expected to provide a 70% cut in tuition for any Wyoming high school graduate with a 3.0 or better grade point average. Wyoming’s unique geographical features include the first national monument and the first national park. Looming over 1,280 feet in elevation, Devils Tower National Monument rises above the rolling hills of the northeast corner of the state. In the opposite corner of the state, herds of buffalo roaming across the grasslands and the world-famous Old Faithful geyser erupting in Geyser Basin demonstrate the untamed nature of Yellowstone National Park. South of Yellowstone, Grand Teton National Park’s majestic and jagged mountains soar above the clouds.

Mountain Biking

Even further south, Fossil Butte National Monument displays the remnants of prehistoric creatures suspended in time at the site of an extinct lake, taking visitors back millions of years into the past. Wyoming is often called the first state in outdoor America. Whether it is running the Snake River on a commercial float trip; herding cattle in the Big Horn Mountains; biking in the Snowy Range; climbing the Tetons or stargazing in the Red Desert, Wyoming has something for everyone.

People who live in Wyoming have opportunities to camp, hike, backpack, fly-fish, rock climb, ride horses along a mountain path, hunt, race mountain bikes down twisting trails, go canoeing, downhill and cross-country ski, kayak whitewater rapids, snowboard, parasail, hang glide, fly high in hot air balloons, windsurf, jet ski, go spelunking, shop in exclusive stores and enjoy fine dining at four star restaurants. Through photography and wildlife watching, residents can discover why Wyoming has captured the imagination of centuries of explorers.

Wyoming means business and exceptional quality of life. Wyoming offers an excellent environment for business growth, expansion and relocation in a safe, clean and beautiful outdoor setting. Now you can work where you want to live – in Wyoming.

For more information, contact:
The Wyoming Business Council
214 W. 15th street Cheyenne,
Wyoming 82002
Tel: 307 777 2800
Website: www.wyomingbusiness.org

All pages are copyright © of Roxby Media Ltd. American British Business is a Roxby Media publication - Disclaimer