ECONOMICALLY NEEDED DIVERSITY OPTIONS FOR WYOMING Jerimiah Rieman Director of Economic Diversification Strategy and Initiatives
1960 1970 1980 1990 2000 1962 A Study for Industrial Development of the State of Wyoming Final Report Diverse Geography and Recreation Small Population Out-Migration of Workforce Tax Structure Natural Resource Oriented Economy Temperate Weather Abundant Natural Resources Export Resources HISTORY REPORTS
20 YEAR COMPREHENSIVE AND COORDINATED ECONOMIC DIVERSIFICATION STRATEGY Expansion and diversification of Wyoming s existing sectors Coordinated approach between legislative and executive branches of government Stimulate new and emerging industries, and create private sector jobs Allocate resources to promote diversification of Wyoming s economy Encourage business development, entrepreneurship and innovation WHAT IS ENDOW? REPORTS
Bill signed on March 3, 2017 Creates an ENDOW Executive Council Assigns powers and duties of the ENDOW Executive Council Requires the Governor to designate a coordinator of economic diversification Creates an economic diversification account SF0132 ENDOW INITIATIVE REPORTS
ENDOW CO-CHAIRS Matthew H. Mead Governor State of Wyoming Gregory P. Hill President and Chief Operating Officer HESS Corporation LEADERSHIP REPORTS
Governor s Board of Economic Diversification Advisors ENDOW EXECUTIVE COUNCIL ENDOW Steering Committee ENDOW Rural Council ORGANIZATIONAL CHART
SUPPORT AGENCIES REPORTS
Facebook.com/ENDOWyo Twitter.com/ENDOWyo YouTube.com/user/WyoBizCouncil www.endowyo.biz SOCIAL REPORTS MEDIA
AUGUST 30, 2017 Socioeconomic Assessment Requires: A snapshot of Wyoming s socioeconomic and economic trends and key enablers to growth in the state that translate to viable business development. An Assessment of existing workforce strengths and deficiencies. The identification of potential business development and innovation zones. DECEMBER 31, 2017 Preliminary Findings and Recommendation Requires: An evaluation of investments necessary to support new and emerging industries or economic sectors, knowledge transfer, infrastructure, international trade, and cooperation between the public sector and private enterprise, assess the relationship between incremental state and local tax revenues and costs of public services, assess the relationship between tax burden and economic diversification. An identification of specific areas which should be designated as business development and innovation zones. An identification of existing deficiencies and strengths in Wyoming s workforce and workforce training programs. AUGUST 1, 2018 Final Report Requires: The submission of a strategy that contains explicit targets to guide the evolution of Wyoming s economy in order to build a sustainable and diversified, value added economy by 2038. Identify agency specific or collective actions that can be implemented immediately without new state appropriations and resources and agency specific or collective actions that will require new state appropriations or reallocation of state resources. Address the creation of business development and innovation zones. REPORTS
ACTION PLAN Four year action plans with performance benchmarks and the identification of policy recommendations and budget needs. EVALUATE REPORT Conduct studies to identify services, facilities and amenities that are attractive to businesses and their employees seeking to relocate but which are substantially lacking or deficient in Wyoming, and identify potential solutions to address those deficiencies to create working and community life climates attractive to a modern day workforce. Develop a performance evaluation system, monitor progress and report to the Governor the status of programs and activities outlined as goals, objectives or action items in the state s economic diversification strategy. ACTIONS REPORTS
STATE AGENCIES PRIVATE SECTOR Review with the Wyoming Business Council, Community College Commission, University of Wyoming, the Department of Workforce Services, and other state agencies agency enabling legislation, rules and regulations, policies, procedures or other governing mechanisms to determine amendments which would better align agency functions with the economic diversification strategy. Engage the private sector in the same in order to determine amendments without compromising Wyoming s environmental and workplace standards. ASSESSMENT REPORTS
June 29-30 in Pinedale July 27-28 in Cody August 10-11 in Sheridan *All meetings streamed live on Facebook @ENDOWyo UPCOMING MEETINGS REPORTS
Business Development and Innovation Zones 13
Alberta s Industrial Heartland 225 square miles of industrial land specifically zoned for business and commercial use Hub for chemical, petrochemical, and oil & gas logistics Over 40 companies Organic industrial growth since 1950 Alberta s Industrial Heartland Association formally launched in 1998 Unites five municipalities, three counties, three levels of government, and non-industrial land owners $45 billion invested Workforce of more than 7,000 people ENDOW Business Development and Innovation Zones expand on successful analogues to leverage Wyoming s unique advantages and create fitfor-wyoming solutions
Fitzsimmons Redevelopment Nearly one-square mile medical campus in Aurora, Colorado Focused on education, patient care, and bioscience research and startups Anschutz Medical Campus (CU Hospital and Health Sciences programs, Children's Hospital Colorado, and the future VA hospital) Fitzsimmons Life Science District $5.4 billion economic impact nearly twice the size of Colorado s ski industry 19,000 employees at the campus 41,000 jobs statewide support the campus 43,000 jobs on campus predicted at full build-out ENDOW Business Development and Innovation Zones expand on successful analogues to leverage Wyoming s unique advantages and create fitfor-wyoming solutions
Business Development & Innovation Zones As Defined by Senate enrolled Act No. 64 [D]efined geographic areas within the state in which local, state and federal permitting and other regulatory requirements will be met for all or significant segments of industry located in the zone or in which industries or businesses would be benefitted substantially as a result of being located in proximity to each other[.] W.S. 9-12-1401(f)(i) BDIZs Encourage private investment in Wyoming through reduced regulatory risk, innovative incentives, and infrastructure investments Create unique environments where education, workforce training, research, innovation and private sector businesses come together Enable strategic planning for the future
Business Development & Innovation Zones Reports Required by senate enrolled Act No. 64 August 30, 2017 Identification of potential business development and innovation zones December 31, 2017 Identification of specific areas which should be designated a business development and innovation zones Considering specific industries Description by location in the state, including recommended boundaries Identification of existing industries in each zone which could be expanded and used to attract other businesses August 1, 2018 Strategy for creation and plans for implementation of business development and innovation zones
Businesses & Industries in Business Development & Innovation Zones The ENDOW legislation requires that the following are considered as Business Development and Innovation Zones are designated agriculture and agricultural business renewable energy sources advanced clean coal technologies nuclear fuel processing and enrichment hybrid energy sources enhanced oil recovery inland distribution ports international trade food and beverage industry international trust and fiduciary business and related sectors emerging research and technological development value added manufacturing involving Wyoming resources existing, new and emerging economic sectors and subsectors
ASSET MAPPING to identify Business Development and Innovation Zones
Purpose of asset mapping Provides objective, data-driven view of assets around the state Guides focus for more in-depth analysis and state efforts Tool for communication to and from communities, legislators, and other stakeholders Asset map focus for August 30 report Potential business development and innovation zones Innovations Assets Amenities Other Requirements Markets Incentives Land Ownership Other Considerations BDIZ
Business Development and Innovation Zones Workflow ENDOW Council Wh o UW Industry Experts State Agencies Communities - Regional Assessment HO W Compile and Map Statewide Inventory of Assets Identify BDIZ Business and Industries, and Assets Required for Each Map required assets for each business and industry to characterize Assets by Industry WHA T Identify Industrial Assets intersections, consider unmapped requirements to define Business Development and Innovation Zones & Gaps
Simplified Example Large-Scale Manufacturing Large-Scale Manufacturing Requires: 1. Transportation A. Rail B. Highways 2. Labor Force Other assets, e.g. feedstock, electricity & reasonable wages, are excluded here for simplification in illustration.
Large-Scale Manufacturing Transportation Interstate US Highways WY Highways Railroads Airports 70-150 flights/day 40-70 flights/day Near Railroad and Highway
Large-Scale Manufacturing Workforce County MFG Employment>300 60-mile radius centered on county population centers
Large-Scale Manufacturing Industrial Assets MFG Labor > 300 Near RR and Highway Near RR, Highway, and Labor Force
CO2 Capture Use and Storage & Large-Scale Manufacturing Industrial Assets All CCUS Assets Present All Large-Scale MFG Assets Present
Opportunities for communities to learn more about ENDOW, communicate their vision for BDIZs in their area, and ensure that their assets are represented LOCAL OUTREACH
Outreach to Communities Regional Assessment Letter from Governor Mead Webinars ENDOW, BDIZs, and the regional assessment Wyoming Business Council here to help WEDA Correspondence Keeping lines of communication open to local economic development organizations Discussions Throughout the State Conferences Industry groups Towns, cities, and counties Feedback Providing results and discussion to communities
Regional Assessment Specific Area Suggestions Regional Industry Focus Geographic Inventory Assets and Infrastructure Community Amenities Keeping Communities Supported and Informed The Regional Assessment will be rolled out with a letter from the Governor s Office, webinars, and an opendoor policy at the Wyoming Business Council.
The Regional Assessment What s in it for Communities? Tools for Planning for the Future Strengthening Regional Networks Communication of Local Priorities Identification of Gaps
THAT S REPORTS WY