The Wyoming Business Council’s approach to economic development focuses on identifying problems and breaking down barriers obstructing a more resilient economy. Collaboratively, we test, adapt, and repeat the process to develop locally crafted solutions.
This is a Process, not a Project or “Plan”
This approach is a foundational shift in HOW we do economic development in Wyoming. It is action-oriented and utilizes data to identify and break down barriers to economic growth.
We are focused on identifying policies or systematic limiting factors that are constraining state and local economies. This is not about short-term wins but rather sustainable opportunities to build resilience: policies, programs, and services designed to unlock long-term, systemic change.
The Economic Growth Flywheel is a visualized process for community and state partners to identify challenges and test solutions. It targets specific needs and involves working with communities on their individual and unique issues.
While the Wyoming Business Council (WBC) has taken the lead on launching these efforts, this is not a WBC program or project; rather, it is about collaboration between state and local partners and building a “Team of Thousands”.
Wyoming has struggled to realize diverse, broad, and lasting growth. We have been working to diversify the economy for a number of years and want to understand why we haven’t met that goal. In order to do that, we need to understand the challenges at the local and state levels as well as the complexity of economic diversification. This methodology will help us tackle these issues and support local partners as they address their unique challenges and craft solutions.
This is a process and systems change for how we approach economic development in Wyoming. It is not just a “one and done” approach like a study or plan that may inform our direction for a set and finite amount of time. Rather, it is a permanent and long-term strategy for first identifying problems and working collaboratively to design solutions to address specific challenges. It is an iterative, cyclical process that can be applied to complex problems that do not have one simple solution.
P2P is led by the Wyoming Business Council but is all about collaboration involving a variety of partners and stakeholders across the state. The Governor’s office, legislators, state partners and agencies, local businesses and organizations, economic/community development organizations, city and county officials, and other key groups are all integral to and involved in this work.
This process of problem solving is applicable no matter the community size or industrial sector. The test>adapt>repeat methodology can be put into practice when addressing complex problems that may have multiple factors or potential solutions.
This is an ongoing process and we will continue to iterate to identify problems and address barriers to growth. Next steps include developing in-state training opportunities to educate partners on how to implement the process to address their unique local challenges. This process is also being shared through The Wyoming Academy curriculum as part of capacity-building activities.
This is a foundational shift and is HOW we do the work of economic development going forward. There may be some growing pains but we will continue to iterate and adapt as we implement this methodology in our various programs, investments, and policies across the state and locally.
These problems may be difficult issues or challenges but there is typically a consistent process and we can generally define the expected outcome or solution.
These problems may have many possible solutions or paths forward. Much is unknown (or possibly unknowable) and variable and there may be no “right” answer or “right” process. In fact, we don’t ever really SOLVE complex problems, we can just manage them.
The Wyoming Business Council and in-state partners are working with the Harvard Kennedy School’s Growth Lab to implement this methodology and address the various constraints that are inhibiting growth in the Wyoming economy.
We consider growth synonymous with prosperity. Together with the Governor’s office and other state and local partners and stakeholders, we are focused on establishing systems that put more dollars into the pockets of the people of Wyoming by growing opportunities and opening markets; creating an environment where people, businesses, and communities can thrive.