July 9, 2014
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Sheridan Quick Facts
Sheridan Workforce Availability
May 2014 Tax Revenue by Industry Sector
Industry
Revenue
Retail Trade
$1,141,198
Public Administration
$347,848
Accommodation And Food Services
$307,392
Utilities
$197,938
Other Services, Except Public Administration
$117,641
Wholesale Trade
$109,244
Construction, Manufacturing And Mining
$106,462
Information
$85,623
Real Estate And Rental And Leasing
$52,191
Educatonal, Professional, Scientific, And Technical Services
$17,539
Tax Climate Snapshot
State Personal Income Tax
NONE
State Corporate Income Tax
NONE
Inventory Tax
NONE
Estate Tax
NONE
Sheridan County Sales Tax
6%

Wyoming's Business Tax Climate Ranked #1 Nationally
 
The Tax Foundation ranked Wyoming's Business Tax Climate 1st among all states for the 4th year in a row.
Wyoming's Tax Burden Lowest Percent of Income in Nation 

 

According to a recent ranking by the Tax Foundation, Wyoming's 2011 state and local tax burden was the lowest of all 50 states, accounting for only 6.9% of per capita income.

Sheridan's Property Tax Rate Almost Half of National Average

 

Sheridan's effective property tax rate of $6.09/$1,000 of home value is barely over half of the national average of $11.20/$1,000.

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Welcome to the second issue of Sheridan's monthly economic development eNewsletter! This month, we're focusing on resources to help businesses succeed. The growth of business, whether through business expansion or the opening of new business, is a crucial part of growing wages and jobs. 

As part of our commitment to provide you with an overview of Sheridan's economic health, we have also included an updated snapshot of several key economic indicators. These indicators provide additional context for the featured topic of each newsletter. Future issues will take an in-depth look at topics such as target industries for our community, housing availability, and our local labor force.

I urge you to to others in the community who might find it useful, and encourage them to use the links provided to join the mailing list for future issues.
- Mayor Dave Kinskey
Training Grants

Employee training is an essential element in growing a successful business. Not only must new employees be trained in order to be productive, but the training of existing employees in new or improved skills can help the business remain competitive in the market. 

 

Wyoming's Department of Workforce Services manages the Workforce Development Training Fund - a unique program to help employers cover training costs. Funding from this program is available to employers through several grant options: 

  • Grants for New Positions - this program offers between $1,000 and $4,000 per trainee per year for new positions under business expansion or new business recruitment.  
  • Grants for Existing Positions - provides up to $2,000 per trainee per year to upgrade employee skill level or re-train in current occupation.  
  • Pre-Hire Economic Development Grants - designed to help develop a skilled, industry-specific workforce when there is a shortage of workers. This program partners a training entity, a business or industry in need, a local economic development entity, and the local Workforce Center. The program also provides additional workforce assistance beyond training funds.  
  • Pre-Obligation Funding - economic development entities can request advance allocation of funds to support new or expanding businesses. The entities can reserve larger blocks of funding for disbursement via New Position Grants and Pre-Hire Grants to specific businesses/industries.
Training Opportunities

The Wyoming At Work website is a comprehensive resource to help meet the workforce demands of employers and job seekers alike. One of the unique features of this website is a tool that helps identify both training providers and programs, indicating which programs may be eligible for funding through some of Wyoming's training fund opportunities.

 

The following is a snapshot of some of the dozens of training programs accessible through the search tool:

 

Program Name

Cost

Funding Eligibility

Administrative Assistant (Certification)

$3,406

Wyoming

Investment Act

Certified Nursing Assistant (Certification)

$3,306

Wyoming

Investment Act

Computer Information Systems

$6,612

Wyoming

Investment Act

Diesel Technology (Certification)

$4,206

Wyoming 

Investment Act

Machine Tool Technology (Certification)

$3,306

Wyoming

Investment Act

Quick Books Training

$474

Wyoming

Investment Act

 

The search tool is customizable by location (statewide, region wide, Sheridan County), provider type, cost, industry, and much more. To access the tool:

 

  1. Go to the Wyoming At Work website.  
  2. In the "Special Services" section, click on "Education and Training Services".  
  3. Click on "Training and Education Programs".
Additional Training Assistance

Workforce Investment Act

The Workforce Investment Act program provides funding to help members of the workforce find gainful employment through a variety of options, including: occupations skills training; on-the-job training; private-sector training programs; skills upgrading/retraining; and more.
 
Wyoming Workforce Veterans Program
The Department of Workforce Services offers specific programs and priority of service to Veterans of the Armed Forces and eligible spouses. The Veterans Program includes: Disabled Veterans' Outreach Program Specialists, Veterans' Employment Representatives, and a Transition Assistance Program.
Business Development and Support Resources
Beyond training opportunities, there are a wide variety of resources available to assist Sheridan area businesses in all aspects of development, including planning, market research, loans/grants, business-ready building sites, and more. The following is a partial list of resources to help you and your business achieve success:
  • Wyoming Business Council - provides overall support and direction, and can assist your business in identifying specific needs and pursuing accompanying resources.
  • Sheridan County Chamber of Commerce - provides networking, information, educational events and more. The Chamber also offers a thorough list of additional business resources, including market data, business development, federal/state regulations information, and general business info.
  • Forward Sheridan - works to foster economic and business development, with particular focus on manufacturing and technology.
  • Sheridan Economic and Education Development Authority (SEEDA) - a joint powers board focusing on collaborative efforts in education and economic development. SEEDA helps businesses obtain the real estate necessary for economic development. In addition to property listings, the organization hosts information about the economic profile of the Sheridan area.
  • Wyoming Entrepreneur - a combined network of the Small Business Development Center, Procurement Technical Assistance Center and Market Research Center, which offers consulting specialties in a wide variety of business areas, including business plans, marketing plans, market research, social media, and more. Browse the previous link for more information, or find your nearest representative.
  • Small Business Administration - in addition to the multitude of resources available on their website, this agency has an extensive network of field offices and partnerships with public and private organizations to help aid, counsel, assist and protect the interests of small businesses. 
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