Wyoming’s economy remains heavily dependent on fossil fuels, driving a high per capita Gross State Product but leaving the state vulnerable to market volatility. True long-term stability requires Wyoming its economy into new sectors and areas where the state currently lags behind.
A key barrier to diversification is workforce retention. Nearly two-thirds of Wyoming-born residents leave by their 30s, often drawn to nearby cities like Fort Collins and Denver. Statistics are showing that young residents—and many others—are leaving the state at twice the national average. A major driver behind this outmigration is a lack of attractive, affordable housing and urban amenities in Wyoming towns. Strict zoning laws limit the creation of dense, downtown housing that young people want, while underfunded infrastructure and community assets make small towns less competitive with urban alternatives.
According to Harvard Growth Lab, to reverse this trend, Wyoming must modernize housing policies, invest in downtown revitalization, improve infrastructure, and enhance its capacity to secure federal funding. Doing so would not only help retain young professionals but also create the environment needed to grow new industries and reduce economic dependence on resource booms and busts.
WY It Matters
Wyoming’s future workforce is leaving. The state’s businesses can’t expand without talent, and communities can’t thrive without young professionals to drive innovation and demand. To build a resilient, future-ready economy, Wyoming must make itself a place where young people want to live, work, and start families.
Modernizing housing regulations, investing in infrastructure, and creating vibrant, walkable downtowns isn’t just good for livability, it’s essential for attracting new industries and keeping Wyoming competitive in the region. A diversified economy depends on people, and right now, Wyoming is losing too many of them.
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The Lander Chamber of Commerce is a Wyoming Chamber of Commerce member and shares its benefits with Lander Chamber members. Opinions expressed by the Wyoming Chamber are not necessarily those of the Lander Chamber of Commerce.
The Wyoming Chamber of Commerce is the driving force behind Wyoming’s business success. We believe in free enterprise, local leadership, and economic growth that benefits every corner of our state. Whether you’re a small business owner, an industry leader, or an entrepreneur with a bold vision, we are here to advocate, elevate, empower, and unite Wyoming’s business community.
