In a year that saw declines in revenues across many sectors, some Wyoming counties saw year-over-year increases in revenue due to industrial wind facilities’ construction. This critical industry is on the rise as it joins oil, gas, and coal as a critical Wyoming resource that powers American.
For years Wyoming’s economy has been depending on a few sectors. Our need to diversify has been at the forefront of state and local leaders. Wind is ready to play a leading 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.
In early January, Wyoming economists released a revenue report that stated that the counties experiencing strong year-to-date annual growth are doing so because of wind energy development and the transmission lines being constructed alongside them.
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Wyoming was able to see first hand the positive benefits of wind development this summer. Carbon County saw an over $3 million increase in sales and tax revenue in June 2020 alone, while Laramie County saw an increase of $1.4 million in September 2020. Converse County saw massive month over month sales tax increases, from $3.5 million in June 2020 to $6 million in July and $9.2 million in August.
These increased tax revenues are provided for counties at a time when it was sorely needed. And at a time of declining revenue at the State level, these taxes allow cities, towns and counties to continue to provide for their citizens through a new revenue source.
But the Wyoming State Legislature is considering increasing taxes on this burgeoning industry just as it’s poised to bring substantial benefit to Wyomingites. For the 17th time in four short years, Legislators are considering raising taxes on the wind industry, risking these projects becoming uncompetitive in Wyoming and local communities losing these new revenues at this critical time.
The wind industry provides new and needed sources of revenue to our communities and citizens. 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 poweringupwyoming.org.
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