50 in 50: Wyoming

50 in 50: Wyoming

50 states in 50 weeks: U.S. states economic and infrastructure highlights.

Key Economic Indicators

GDP: $36.7 billion

GDP 5-year compounded annual growth rate (CAGR) (2017-2021): -0.5% (U.S: 1.6%)

GDP per capita: $63,889 (U.S.: $58,154)

Population: 579 thousand

Population 5-year CAGR (2017-2021): -0.1% (U.S.: 0.5%)

Unemployment: 3.3% (U.S.: 3.9%)

Economic outlook ranking: #10 out of 50

Fiscal health ranking: #3 out of 50

Overall tax climate ranking: #1 out of 50 

Key Sectors and Metro Areas

Top five industry sectors by 2021 GDP:

Top three industry sectors by GDP 5-year CAGR (2017-2021):

Top metro areas by GDP:

• Cheyenne, WY
• Casper, WY

Top three areas by population 5-year CAGR (2016-2020):

• Jackson, WY-ID (Micropolitan Statistical Area)
• Sheridan (Micropolitan Statistical Area)
• Cheyenne

Infrastructure Highlights

Infrastructure: Wyomingites hope to bring in funds beyond those from formulaic allocation (channeled directly to state and local governments) to cover transportation, water, and resilience budgetary needs in the state. Part of the additional resources would likely be directed towards projects to optimize Interstate 25 and Interstate 80 with supporting infrastructure for freight movement, truck parking, and wildlife crossing. Wyoming state officials will need to hire teams of grant managers to handle the application process. Wyoming will receive nearly $2.6 billion from the Infrastructure Investment and Jobs Act (IIJA) over the next five years, divided into the following categories of projects (additional funds may be deployed as federal grants get awarded to states):

Construction spending (Value of Construction Put in Place – CPiP):

• Private Nonresidential 2020 CPiP: $675 million; 3.6% 5-year CAGR (2016-2020), above overall U.S. CAGR of 2.0%
• State & Local 2020 CPiP: $646 million; -18.6% 5-year CAGR (2016-2020), below overall U.S. CAGR of 4.8%

AE Industry

ENR 500 firm headquarters (2022): none

M&A activity since 2018:

• 4 deals with buyers from Wyoming
• 3 deals with sellers from Wyoming

For customized market research, contact Rafael Barbosa at [email protected] or 972.266.4955. Connect with him on LinkedIn.