Wyoming Economy Relatively Strong

Wyoming Economy Relatively Strong

Wyoming's economy is currently showing robust strength, making it an opportune moment for business owners in the state to consider selling. If you're a business owner in Wyoming, this is an ideal time to capitalize on the favorable economic conditions.

Wyoming Economics:

The Wyoming Economic Analysis Division has published the December 2023 edition of the Wyoming MACRO Report, indicating a robust state economy.

This quarterly report features charts and data on employment, energy, state revenues, and other economic indicators for Wyoming.

Key findings from the December issue include a 2.9% increase in statewide employment, adding 8,400 jobs in November 2023 compared to the previous year.

West Texas Intermediate oil prices averaged $71.90 per barrel in December 2023, a decrease of $4.54 from December 2022.

Henry Hub natural gas prices in December 2023 averaged $2.52 per MMBtu, showing a decrease of $2.97 from the previous year.

Wyoming's real GDP rose by 5.7% in the third quarter of 2023, slightly underperforming the Rocky Mountain region's 5.9% increase but surpassing the national growth of 4.9%.

Statewide sales and use tax collections for the first half of fiscal year 2024 increased by 10.9% compared to the same period in fiscal year 2023.

However, statewide severance tax collections during the same period fell by 32.2%.

The December 2023 Wyoming MACRO Report can be accessed on the State of Wyoming's Economic Analysis Division website. Source: http://eadiv.state.wy.us/

At Transworld Business Advisors of Wyoming, we're committed to helping Wyoming business owners navigate the complexities of selling their businesses successfully. With our expertise and resources, we can guide you through every step of the process, ensuring a smooth and profitable transaction. Don't miss this opportunity—download our "Step-by-Step Guide for Business Owners in Wyoming" today and start planning your successful exit strategy.




Article Source: Sheridan Media