Paid Partnership Content from Powering Up Wyoming
Wyoming resources power the nation. Historically, it’s been our fossil resources that keep America’s lights on – coal, oil, and gas. Over the last decade, Wyoming wind has risen to join the ranks as another critical Wyoming resource that helps power America. Home to some of the best inland wind resources in the country, Wyoming is in a prime position to leverage her role as an energy leader, lean on companies and individuals’ energy expertise, and diversify our local economies by supporting wind energy development in the state.
Wind companies have invested $5 billion in Wyoming to date.
Wyoming’s July 2021 CREG report anticipated a 7.3% decline in sales and use tax in 2021. Instead, Wyoming saw a 7.7% increase – totaling $34.4 million – from tax revenue from wind projects and increased consumer spending. These funds directly support local services vital to communities – including schools, infrastructure, and first responders – at a time when funding from the State is decreasing, and economic diversification efforts are even more critically important to support cities, towns, and counties.
And the wind industry isn’t finished growing. The Energy Information Association predicts that 70% of the new power generation built this year will be wind and solar. The wind industry is poised for continued growth in 2021 and beyond. Currently, planned wind projects for Wyoming will bring in an additional $10 billion of investment into Wyoming.
Wind also supports Wyoming’s legacy industries of farming and ranching. It’s estimated that approximately $17.3 million per year is paid in land lease payments from wind farms to family ranches and farms. These additional funds provide our agricultural producers with predictable income that they can use to invest in equipment, grow their operations and help support the next generation to maintain the family farm.
Wind energy provides critical tax revenue, economic opportunities, and Wyoming’s chance to continue its energy leadership.
Learn more about the wind industry in Wyoming, stay informed on news, legislative actions, and what you can do to support all of the above energy by visiting https://poweringupwyoming.org/.
