Wyoming, a state renowned for its sweeping landscapes and abundant natural resources, now stands at a pivotal crossroads.
The state has an unprecedented opportunity to embrace modular nuclear energy — a move that promises not only environmental stewardship but also substantial economic benefits.
With a historic reliance on coal, Wyoming is uniquely positioned to lead the nation in adopting advanced nuclear technologies, ensuring both energy security and economic vitality for generations to come.
A Need for Diversification
For decades, Wyoming’s economy has been closely tied to traditional energy sectors, particularly coal mining. The state produces about 40% of the nation’s coal, and the industry has long been a cornerstone of employment and state revenue.
However, as demand for coal wanes due to environmental concerns and market shifts toward cleaner energy, Wyoming faces declining tax revenues and job losses.
In 2022, coal production in Wyoming fell by nearly 5% compared to the previous year, and coal-related employment dropped by over 15% in the last decade. Severance taxes, which fund schools, infrastructure, and public services, have also declined, forcing state leaders to seek new sources of revenue.
This economic challenge calls for innovative solutions. Modular nuclear energy stands out as a promising path forward, offering Wyoming a unique chance to stabilize and even grow its economy amid the evolving energy landscape.
Case For Modular Nuclear Energy
Small Modular Reactors (SMRs) are revolutionizing the nuclear industry. Unlike traditional large-scale reactors, SMRs are compact, factory-built, and can be deployed incrementally to meet specific energy needs.
Their scalability, enhanced safety features, and lower upfront costs make them an appealing alternative for states seeking reliable, low-carbon energy solutions.
Job Creation and Economic Growth
One of the immediate benefits of investing in modular nuclear energy is job creation.
Construction of SMR facilities is labor-intensive, employing skilled workers from a range of backgrounds—many of whom have experienced layoffs from the coal sector.
According to industry estimates, building a single SMR facility can generate up to 1,500 construction jobs and 300 permanent positions for ongoing operations and maintenance.
These are well-paying jobs, often exceeding the average wage of coal mining positions, providing not just employment but a pathway for building Wyoming’s trade dependent workforce.
Moreover, the economic ripple effects extend far beyond the reactor site. Local businesses—including suppliers, restaurants, and service providers—stand to gain from increased activity and consumer spending.
A 2021 study by the Nuclear Energy Institute (NEI) found that each dollar spent on nuclear plant operation contributes approximately $1.66 to the local economy.
In Wyoming’s rural communities, this multiplier effect could mean millions of additional dollars circulating annually, driving growth and encouraging new business ventures.
Increased State and Local Revenue
The transition to modular nuclear energy carries the potential to bolster Wyoming's public coffers through increased tax revenue.
Nuclear plants generate significant property and sales taxes, and the influx of well-paid workers further boosts income and sales tax collections. For example, the Tennessee Valley Authority’s nuclear facilities contribute over $100 million annually in local and state taxes.
While the scale in Wyoming may differ, even a single SMR installation could result in millions of dollars in new revenue streams—funding schools, roads, public safety, and other essential services.
Additionally, SMRs can be sited on or near existing coal plant locations, taking advantage of established infrastructure and minimizing land acquisition costs.
This repurposing of legacy assets not only reduces project expenses but also ensures a continued revenue stream for communities that might otherwise face economic stagnation.
Energy Security and Industrial Competitiveness
Wyoming’s industrial sector will increasingly rely on affordable and reliable energy. As intermittent renewables like wind and solar become more prevalent, grid stability and power consistency become pressing concerns.
Modular nuclear reactors provide 24/7 baseload power, ensuring that industries, hospitals, and households have the electricity they need—without interruption and without carbon emissions.
Stable and competitively priced energy is a magnet for new industries.
By positioning itself as a hub for advanced nuclear technology, Wyoming can attract manufacturing, data centers, and other energy-intensive businesses.
Such diversification would foster economic resilience, reduce reliance on a single sector, and position the state as a leader not only in the clean energy revolution, but as a source of reliable baseload power to investors and manufacturers.
Leveraging Federal Support and Private Investment
The federal government has recognized the promise of modular nuclear energy, allocating billions of dollars in grants and incentives to accelerate deployment.
Wyoming has already been selected as the site for TerraPower’s Natrium project, a next-generation reactor supported by both private and federal funds. This partnership could serve as a blueprint, attracting further investment and catalyzing economic activity across the state.
By leveraging federal incentives, Wyoming can minimize risk, lower costs, and ensure that the benefits of modular nuclear energy are shared widely.
The potential for public-private partnerships also increases, bringing expertise, innovation, and capital to Wyoming’s energy sector. The University of Wyoming’s School of Energy Resources can also become a magnet for nuclear energy technology innovation and education.
Environmental Benefits and Long-Term Savings
While the focus here is economic, the environmental benefits of SMRs cannot be understated. These reactors produce zero carbon emissions during operation, helping Wyoming meet climate goals and improve air quality.
Moreover, advanced designs reduce waste and minimize the risk of accidents, increasing public confidence and long-term viability.
Cleaner air and water translate to lower healthcare costs and higher quality of life, with indirect savings for families and the state.
Economic studies suggest that every dollar invested in clean energy yields up to $3 in health and social benefits—a return that compounds over time.
A Vision for Wyoming’s Future
Wyoming’s embrace of modular nuclear energy is more than an economic strategy—it’s a vision for sustainable prosperity.
By capitalizing on its skilled workforce, legacy infrastructure, and pioneering spirit, the state can lead the nation in advanced nuclear power, ensuring economic security and opportunity for future generations.
The state legislature and policymakers must act decisively, streamlining permitting, investing in workforce transition programs, and educating the public about the safety and economic promise of SMRs.
Industry leaders and local communities should be at the table, shaping an inclusive roadmap that ensures benefits are shared equitably.
Conclusion
Modular nuclear energy stands as a beacon of opportunity: a source of high-quality jobs, increased revenue, and economic stability. By seizing this moment,
Wyoming can transform its challenges into catalysts for growth, ensuring that its proud tradition of powering the nation continues—now and into the future.
Peter K. Gottfried, Member, Wyoming Energy Resources Council
Dubois
