“What a difference a year makes!” was the rallying cry made
by Gov. Matt Mead as he greeted 650 people at the Wyoming Business Alliance
Governor’s Business Forum in Cheyenne Nov. 8.
Mead was
optimistic as he talked about the current Wyoming economy. “We are righting the
ship,” he said.
This meeting
is a unique gathering of state business leaders that has been going on for
decades. Some of the best ideas in state
history have come out of this group, including the Hathaway Scholarship program,
Leadership Wyoming and the Wyoming Business Council.
Mead said the economy
is headed the right way. For a state like Wyoming that relies on energy
development so much for its job and tax revenue, he used the example there “was
just one oil rig” drilling in the state at this time a year ago. Today, he said there have been large investments
by energy companies and the future is bright.
“We have
weathered the storm. We have shown our perseverance,” he proclaimed.
He talked
about his ENDOW program, which will chart a future economic development course
for the state that includes innovation with a focus on technological advances.
“The world is changing. Are we going to change? Are we going to follow or are
we going to lead?”
He told the
big crowd that the younger generation is different from most of us, meaning the
bulk of the crowd, most of whose male members had gray hair.
“Wyoming has
what the younger generation wants. They
want a quality of life, not just a job,” Mead continued.
“Lately, I
have been talking to people about hyperloops, avatars, flying cars and other
concepts we had not heard about until recently,” he said.
Mead said it
has been proved that you do not need a large population to be successful. “It is quality, not quantity,” he said. “Our
future is ours to build,” he said.
He touted
Wyoming’s strong work ethic, small population and can-do attitude as
attributes, which will attract young workers to the state. “We control our
destiny. There is value in people evolving.”
He touted the
state’s investment in STEM (Science, Technology, Engineering, Math) as paving
the way for the state striding forcefully and confidently into the future. He credited former Gov. Dave Freudenthal and
the legislature for their work with the NCAR computer and the School of Energy
at the University of Wyoming.
Freudenthal
then led a panel discussion about the state’s fiscal future. The former
governor had some keen observations and a few tart opinions about Wyoming’s
future.
Although he
said as governor he always bragged about our state’s low tax structure, he then
noted, “If low taxes are what creates diversity, then Alaska and Wyoming should
be the most diverse economies in the country.”
Both states
rely on energy and neither is very diverse.
He said in
1969, the state established a severance tax. Mineral taxes today pay 70 percent
of the property taxes. In 1974 voters approved creation of the permanent
mineral trust fund, which made “us all trust fund babies,” the former governor
said. Then Wyoming pushed tourism
big-time and now, out of state visitors pay 60 percent of the state’s sales
taxes.
He said think
of the guy who has a big house in Houston who pays $45,000 a year in property
taxes in Texas and a big house in Jackson, where he pays just a fraction of
that amount, implying that perhaps Wyoming could handle some increases in some
taxes.
Although
Freudenthal did not dispute Gov. Mead’s assertion that times are much better in
Wyoming this year than last year, he said folks waiting around for another
energy boom might be disappointed. “We may be waiting for a long time,” he
concluded.
Freudenthal said
Cowboy State citizens need to “cowboy up” and get a good handle on our
financial situation. He complained that the state never really has had an
accurate balance sheet. “I think (former Senate President) Phil Nicholas of
Laramie was the only person in Wyoming who knew how much money we really had on
hand.”
As governor,
Freudenthal says he would hide coffee cans here and there (hard-to-find
accounts) where he could stash some money so the Legislature could not spend
it.
But the biggest deal is budget
planning is difficult without an accurate balance sheet.
Also at the
conference were plenty of potential governor candidates milling around,
pressing the flesh, including Secretary of State Ed Murray, State Treasurer
Mark Gordon, former State Rep. Mary Throne, State Sen. Leland Christensen,
Liberty Group head Jon Downing and attorney Matt Micheli.
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