During the Wyoming Business Report/Wyoming Business Alliance’s economic forecast in Cheyenne last year, University of Wyoming economist Dr. Anne Alexander explained that there was no way to overstate how different this economic downturn is from those in the past.
“Things might have leveled out, but it’s pretty clear... this is, for the most part, the new normal,” she said. “It’s up to us to fix it. Nobody is coming – there’s no cavalry on the way.”
Efforts like the ENDOW group, working on long term plans to diversify the economy, were just what the doctor ordered. But the recent upswing in energy prices and employment could derail those efforts. After all, it’s happened before.
“The last time we had a prolonged economic trough we were thinking hard about diversification,” Alexander said. “Then fracking happened and everyone thought ‘Who needs diversification? We’re fine!’
Wyoming was fine – for a little while. Until the current downturn happened. As of December, 2017 the Cowboy State is the number one state for percentage of people moving away, having lost more than 6,500 residents since the bust’s start according to the U.S. Census.
“We still have to keep our eyes on the prize,” Alexander said. “We don’t want people thinking, ‘We don’t need this ENDOW stuff!”
Alexander will be presenting an economic portrait of central Wyoming at the Ramkota on Feb. 1 from 11:30 am to 1 p.m.
She plans to direct the conversation towards what Wyomingites can do to keep the positive economic momentum going with her panel of Casper experts: Carter Napier, Casper city manager; Charles Walsh, CEO of CAEDA; Brook Kaufman, CEO of Casper Area CVB; and entrepreneur and executive committee member of Endow, Jerad Stack.
“This is quite a group,” Alexander said. “They are all innovators. They all have ideas that will work for Wyoming – things that we can do even if they do take effort and a lot of investment. That’s what we need.”
“I hope that we can talk about better air service and connectivity – what that does for the central region and what does it mean for the long term,” she said.
To join the conversation next week Thursday, buy your tickets here. The cost is $25, and admission will include a free copy of the Wyoming Business Report’s Book of Lists – the definitive guide to the biggest, most successful companies in almost every industry across the state.
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