UW College of Business – Economic Analysis of Wyoming’s Manufacturing Sector
The University of Wyoming Center for Business and Economic Analysis (CBEA) is conducting an economic analysis of Wyoming’s manufacturing sectors for Manufacturing Works. The economic impacts are based on the data provided by the U.S. Bureau of Economic Analysis, Dun & Bradstreet, and IMPLAN.
We also undertake a traditional economic contribution analysis for the state’s manufacturing sector. The contribution to the economy is measured in terms of jobs added, employee compensation, value added, total output, and tax revenue generated. The results include the direct effects of the firms, as well as the multiplier effects of business-to-business spending spurred by the business activity.
The primary results for Wyoming’s manufacturing sector show that …
- Wyoming’s manufacturing sector averages about 6% of Gross State Product (GSP), similar to Montana but lower than other neighboring states.
- Wyoming’s largest manufacturing sectors in terms of number employees are (1) Fabricated Metal Product Manufacturing and (2) Petroleum and Coal Products Manufacturing.
- the largest number of manufacturing firms are located in Laramie, Sheridan and Natrona counties, in that order.
- manufacturing directly contributed $4 billion in value added to Wyoming’s economy and (directly and indirectly) generated $2.4 billion in sub-county, county and state taxes, in 2023 dollars.
Finally, we interviewed three experts regarding manufacturing challenges and opportunities in Wyoming. The three experts were generally positive about the prospects for manufacturing growth in Wyoming, but they did raise several current obstacles to growing the manufacturing sector.