Wyoming’s fossil fuel industry has provided billions of dollars in tax funding to help pay for our way of life; it’s paid for our schools and universities, for our state government, and for our local community services. As the sources of energy generation expand, Wyoming can continue to look to new ways to help broaden our revenue base and support our communities.
Wyoming is blessed with an abundant array of natural resources, including high-caliber wind that can be harnessed into energy. Commercial wind development is continuing to grow as wind developers evaluate many possible locations in Wyoming for their projects. As the leading energy provider in America, Wyoming has the energy expertise to take these wind resources and use them to the benefit of our citizens through jobs, economic diversification, and tax revenue.
Yet, the wind industry is often overlooked when Wyoming discusses economic diversification, even though this booming industry is an easy opportunity for the energy state.
Over the past two decades wind energy companies have invested over $5 billion in Wyoming. Currently planned projects are projected to bring an additional $10 billion into the state coffers. Wind is already playing a central role in supporting local communities and providing millions in local revenue. Revenue that funds roads, schools, first responders, and many essential infrastructure elements that keep our Wyoming families and communities thriving.
And wind energy is here to stay. Wyoming has the energy expertise and legacy to support the development of wind. Meanwhile, the wind industry continues to pay significant taxes that support our local communities for generations to come. Wind projects are designed to last for decades – providing stable revenue streams that our state, cities, towns and counties can rely on.
But Wyoming isn’t the only state with wind resources. And we aren’t the most cost-effective state of doing business. A study from the University of Wyoming found that New Mexico, Montana and Colorado are all cheaper in terms of developing wind energy. And those states are actively pursuing projects, offering tax incentives, and working diligently to ensure their economies benefit from the tax base that wind development brings.
If we lean into this opportunity to expand our energy generation base, the consistent revenue streams from wind projects will allow for Wyoming cities, towns, and counties, along with the state government, to make long-term decisions for the benefit of Wyoming citizens. But in order for those projects to come here and for Wyoming to reap the benefits of these long-term investments, they need a stable regulatory and policy structure in place.
Wind energy has the potential to be a driving force in shaping the next generation of Wyoming’s workforce and way of life while helping maintain our state’s position as the nation’s energy leader.
Learn more about the wind industry in Wyoming, stay informed on news, legislative actions, and what you can do to support an all-of-the-above energy policy by visiting https://poweringupwyoming.org/
