As discussed in the project’s Growth Perspective, Wyoming does not have one single economy but rather many disconnected local economies, with different dynamics and capabilities. Many of the state’s economic realities have deep roots in its geographic circumstances, which impacted its low population growth over time. Reliance on natural resources has subjected the state to boom-and-bust cycles for much of its history. However, just as Wyoming is diverging from the national economy, local and regional economies across the state have also diverged. Some parts of the state are growing and narrowly diversifying and are bumping up against constraints that limit their pace of growth. In several growing cities, firms face a constraint in the workforce size, which is exacerbated by slow growth in housing supply. Meanwhile, many more rural parts of the state have experienced continued population decline as they have lost sources of tradable income and consequently sources of jobs and opportunities.

Economic strategy, public spending, and creative initiatives must respond to varying local issues if Wyoming’s high quality of life and economic mobility are to continue. Wyoming’s growing cities and regions are facing some constraints that have long undermined their full potential alongside new challenges that come with change. Meanwhile, contracting towns face fundamental issues that threaten their long-term viability and threaten to erode living standards. The project is providing analytical work and building capabilities to address these varied challenges across the state. This project is ultimately about enabling local economic resilience. It is leveraging frameworks of growth diagnostics and economic complexity while working collaboratively with stakeholders across the state to improve outcomes in housing, workforce access, local spending, and growth of energy opportunities.

Photo: Rock Springs Coal historical marker in Sweetwater County, Wyoming. Discovery of coal and development of commercial mines dates back to 1850.