Wyoming Offers Successful Business Growth

Wyoming has long been recognized as one of the top business-friendly states. Our strong economy, driven by resource development, the travel industry, a thriving transportation structure, reliable infrastructure, well-funded public education, and low taxes, offers a robust foundation for businesses of all sizes and industries. So why should you bring your business to Wyoming?

Business-Friendly Tax Structure

Ranked as the nation’s “Most Business-Friendly Tax Climate” since 2013, Wyoming businesses and people are set up for success from the beginning. According to the Tax Foundation, Wyoming has the third lowest combined tax rate in the United States, at just 5.44 percent. There are no corporate, personal income, inventory, franchise, occupation, or value-added taxes, and sales tax rates are among the lowest in the country. The absence of these taxes allows businesses to maximize profitability and growth opportunities.

“The financial benefits in a state with such a favorable tax environment cannot be overstated,” said Joe Roth, vice president of Member Service at Powder River Energy Corporation (PRECorp). “Wyoming’s tax structure is a significant draw for businesses.”

Top-Notch Infrastructure & Natural Resources

Wyoming offers a robust infrastructure to support businesses of all sizes. The state has a well-developed transportation network, including major highways, railroads, and regional airports, facilitating the easy movement of goods and services. Key transportation routes like Interstate 90 and U.S. Highway 14 ensure connectivity to major markets across the U.S.

The Northeastern Region of Wyoming is a significant hub for the energy and mining industries. Gillette is often called the “Energy Capital of the Nation,” serving as a central point for the coal industry. The Powder River Basin is one of the most productive coal mining areas in the U.S. and contains substantial deposits of oil, natural gas, and uranium, making it a critical area for energy production.

A Skilled and Versatile Workforce

Our region is tied to the state’s key industries: energy production, mining, agriculture, and increasingly, healthcare and manufacturing. Gillette College provides an Electrical Apprenticeship program to prepare students for careers in industrial electricity. Sheridan College offers Manufacturing and Machine Tool programs that help prepare workers for jobs as skilled machinists. The University of Wyoming partners with Wyoming’s community colleges to provide a network of educational opportunities, including Bachelor of Applied Science degrees, so that young Wyoming citizens can stay, learn, and work in their communities. These programs position residents to remain skilled and adaptable in a changing economy.

Resources & Assistance for Business Launch, Growth, and Success

Whether you’re looking to start a business or grow an existing business, you’ll find a variety of groups and networks throughout the state that provide business support.

Local governments in northeastern Wyoming are proactive in supporting business development. Economic development organizations, such as the Campbell County Economic Development Corporation (CCEDC), provide resources and assistance to businesses looking to establish or expand their regional operations. These organizations offer services such as site selection assistance, workforce training programs, and access to funding opportunities. Here are a few you can take advantage of:

• PRECorp’s Wyoming Renewable Energy Credit Program (WyREC) allows companies to purchase renewable energy credits to meet their sustainability goals, reduce their environmental impact and offset their carbon footprint. The WyRECs purchased from PRECorp support community development projects. This initiative is supported by PRECorp’s membership in Basin Electric Power Cooperative, which operates substantial wind energy projects in its service area. Funds from WyREC transactions are reinvested in economic development and other community projects within the PRECorp service area. Additionally, these funds can be used by businesses to qualify for grants and loans from organizations like the Wyoming Business Council and the U.S. Department of Agriculture (U.S.D.A.), which often require matching funds.
• The Wyoming Business Council provides a wide range of services, including business planning, financial assistance, and market research. 
• The Wyoming Business Resource Network is a collection of organizations funded and supported by the Wyoming Business Council and the University of Wyoming dedicated to helping new businesses get started and grow established businesses. 
• The Wyoming Small Business Development Center (SBDC) Network offers free services for those looking to start a business.
• Impact 307 is a statewide network of innovation-driven business incubators committed to growing and strengthening the state’s entrepreneurial community.
• The Wyoming Women’s Business Center offers business counseling, training, and micro-finance programs. 
• Manufacturing Works offers manufacturing companies customized support, technology, and services to help them compete on a regional, national, and global level. 
• The Wyoming Small Business Innovation (SBIR)/Small Business Technology Transfer (STTR) program offers no-cost confidential advising to help businesses access federal research funding. 

Electric cooperatives: the power of many for all

Wyoming communities are fortunate to have strong electric cooperatives, like Powder River Energy Cooperative, that offer numerous business advantages.As member-owned organizations, electric cooperatives are accountable to their members rather than shareholders. This often leads to a greater emphasis on member satisfaction and community benefits. Electric cooperatives are governed by a board of directors elected by the members. Each member has one vote, regardless of their energy consumption. Electric cooperatives operate on a not-for-profit basis, meaning any surplus revenue is reinvested in the cooperative or returned to members in the form of capital credits. Finally, electric cooperatives often have a strong focus on community involvement and local development, reflecting their commitment to the areas they serve.

Vibrant Communities

Beyond our business-friendly environment, Wyoming offers plenty of room for adventure. With two national parks (Yellowstone and Grand Teton), several national monuments, five national forests, 12 state parks, and countless acres of public land to hunt, fish, bike, hike, climb, ski, and roam, there is something for everyone.

In Northeastern Wyoming, our close-knit communities – like Gillette, Sheridan, and Buffalo – serve as economic and cultural centers for the region. Gillette is home to the CAM-PLEX Multi-Event Facilities, one of the region’s largest and most versatile event centers. Sheridan is known for its historic downtown and proximity to the Bighorn National Forest. Buffalo's historical significance, rooted in the days of the Old West, makes it a hub for visitors, events, and festivals. Our residents enjoy low costs of living, safe communities, and plenty of opportunities for family fun.

Bring Your Business to Northeastern Wyoming

“As a nonprofit energy co-op, PRECorp isn’t just an energy provider; we’re an energy partner,” said Roth. “We’re proud to call Northeastern Wyoming home, providing reliable energy and infrastructure to the businesses and communities here.”

So join us! Powder River Energy Corporation's dedication to the communities of northeast Wyoming goes well beyond the expansion of energy accessibility in the region. Contact us today for the assistance necessary to make your business dreams a reality!