Wyoming's Push to Diversify Its Economy

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PHOENIX - Wyoming launched a new website dedicated to economic diversification while legislation aimed at the same goal moves through the legislature of the energy-dependent state, which has seen its revenue drop in recent years.

The new push, announced last week, follows Gov. Matt Mead's November announcement that the state needs to diversify its economy because prices of coal, oil, and natural gas are too low to bring in the revenues Wyoming needs.

The initiative is called ENDOW, an acronym for "Economically Needed Diversity Options for Wyoming." The website highlights the initiative, which seeks to foster growth in the technology and other industries through the combined efforts of state agencies, the Wyoming Business Council, the University of Wyoming, and the state's community colleges.

While the state of Wyoming does not issue bonds, its counties and development agencies do.

"I am pleased by the interest shown in the ENDOW Initiative," Mead said in a statement. "A website will keep the citizens of Wyoming informed and engaged as the Initiative advances. With this new site, we now have the means to broaden our communications efforts."

Legislation that would provide $2.5 million for the ENDOW initiative is working its way through the legislative process now, and has already been approved by the State Senate. The state is accepting public comment on the initiative through April 2.

"We need a long-term plan that goes beyond one Governor's time in office," said Mead. "A plan which complements our strengths and increases our economic opportunities in energy, tourism and agriculture, expands our economic base overall, and provides opportunities for our youth today and tomorrow. I am asking for the people of Wyoming to share their ideas as we undertake the ENDOW Initiative."

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