Wyoming State Government's Economically Needed Diversity Options for Wyoming (ENDOW) initiative recently solicited perspective and ideas for economic diversification from the business community. The team at Pitchengine submitted the following slide deck to identify trends in the US economy and workforce that may constitute an opportunity that Wyoming appears to be well positioned to meet. As a local business, our interest is in helping our state realize economic growth outside of our traditional industries by promoting the independent spirit and culture that has made Wyoming a great place to live; earn, and; raise a family. If you have something to add to this conversation, please reach out and share that directly with us: FL@pitchengine.com

1. Prepared for ENDOW
An Economic Opportunity
Untapped
^

2. Summary:
100 slides
at a glance
Wyoming
Advantages
Gig & Remote
Economy
Millennial
Values
opportunity

3. Maybe a deeper
conversation is needed?

4. A quick note about our shorthand
Highlights a key takeaway
Relevant link to the source
Additional conversation outside scope

5. Seeking an approach to diversify the Wyoming Economy

6. To develop and diversify our economy we
currently focus on:

7. 1) Buildings and
Infrastructure
❏ Tax-Exempt Industrial Development
Revenue Bonds
❏ Business Ready Community Grants
❏ Various Loans

8. This supports businesses of tomorrow that
require buildings

9. and, many may,

10. but, more and more do not.

11. for example:

12. Banking
74% of millennials visit a bank
1 or fewer times per month
”

13. 33% of millennials believe they won’t need
a bank in 5 years.

14. Across the U.S. economy we see:

15. Businesses are creating value with
fewer fixed assets

16. Hotel Industry by Market Cap
IHG (Holiday Inn et.al.) $10B
Hilton $19B
Marriott $35B
Airbnb $30B…and doesn’t own a building or a single room

17. Transportation
Uber valuation $68B…and doesn’t own a car
Now operating in Casper, Cheyenne and Jackson Hole

18. For that matter...

19. Largest 5 Companies by Market Cap
2006 2016
Exxon Apple
General Electric Alphabet (Google parent co.)
Shell Oil Microsoft
Microsoft Amazon
Citigroup Facebook
10 years
Net sales/Fixed Asset Ratio
Not relying on assets as
much to drive value

20. We can recall when Walmart was the
“Main Street business killer?”

21. Walmart built buildings paid local taxes and
hired local employees.

22. Who is now grabbing significant Wyoming
market share for consumer goods?

23. with no buildings or employees in Wyoming
and other online retailers

24. Wyoming estimates $23M - $46M in annual sales tax
revenue from Amazon. That’s good, but...

25. That represents annual sales of ~$1 Billion in Wyoming
that leave our state.
and, it will likely only grow as currently 8 in 10 Americans are online shoppers.
15% purchase online weekly.
Amazon delivery partially
relies on our
airports...opportunity?

26. The 2nd notable category of efforts to
diversify our economy focuses on:

27. 2) Business Recruitment
❏ No Corporate Income Taxes or gross
receipts taxes
❏ Wyoming Business Council
❏ Workforce Development Training Fund
❏ Tradeshow grants

28. Needed, but rarely compelling enough to
relocate a business across state lines
(as we’ve learned)

29. These tools are helpful.

30. But, we don’t believe that they fully speak to
the future of business or fully leverage
Wyoming’s unique advantages.
So...

31. Why fit in when you
were born to stand out?
Dr. Seuss

32. Market Trends

33. Introducing: The Gig Economy

34. Gig e•con•o•my
noun
A labor market characterized by the prevalence of short-term contracts or
freelance work as opposed to permanent jobs.

36. By 2020, 50% of the
U.S. workforce will be
freelancers.*
”
*Debated, but regardless the value is currently a very significant 34%

37. The Remote Employee

38. Re•mote em•ploy•ee
noun
A employed individual that works from a home office either part or full time.
See also: Telecommuting Employee

39. 3.7M employees
(2.8% of the workforce)
now work from home
at least half of the
time.
”

40. Both remote and gig economies exists
currently in Wyoming...

41. but, we cannot easily track them

42. Why this trend?

43. Millennials don’t want
jobs, they want lives.
”

44. They don’t buy into the concept of
sitting at a cluttered desk 10 hours a
day trying to look busy for a boss.
”

45. They see a bigger picture,
leveraged by technology.
”

46. ...the ability to add
meaningful value from
anywhere at anytime.
”

47. And, it’s not
just Millennials

48. Millennials would add:

49. “Buy experiences, not things”
- Millennial Mantra

50. Wyoming IS experiences

51. #wyominglife

52. Employers represent half the equation too
and they have another perspective that’s
outside our scope.

53. The Gig Economy and Telecommuting
Workers typically require...

54. a home office

55. collaborative community work spaces

56. a connection

57. assistance
(entrepreneurial resources)

58. a great place to live

59. btw, Wyoming has these things :)

60. But, if we have these things,
why aren’t they coming?

61. There is:
1) What we are, and;
2) What people think we are.

62. What is Wyoming

63. First: It’s a brand.

64. A brand is no longer what we tell the
consumer it is, it is what consumers
tell each other it is.
— Scott Cook, Co-Founder of Intuit

65. So, what are consumers
saying Wyoming is?

66. Hmm… :(
(top searches)

67. You may think we are Yellowstone to your
out-of-state friends...

68. 96% of Yellowstone Park
is located in Wyoming
44% of searches
associate it with Montana

69. Wyoming is represented well
on Instagram

72. To many we are:
Scenery
Wildlife
Outdoor adventure
UW Cowboys

73. As a business location brand we are
not well defined for people

74. That is a great branding opportunity!

75. Wyomingites value:
Freedom
Work
Experiences outside of work
Fiscal conservatism
Our spaces
But, we really value...

76. independence

77. Wyoming
Values
Small
Business
Owners
Gratuitous Venn Diagram Slide
Independence

78. And, that’s good because:

80. So, where can we go from here?

81. So, where can we go from here?
Identify what we are1

82. So, where can we go from here?
Identify what we are1
2 Identify market trends

83. So, where can we go from here?
Identify what we are1
2
3
Identify market trends
Match Wyoming’s advantages to trends

84. So, where can we go from here?
Identify what we are1
2
3
Identify market trends
Match Wyoming’s advantages to trends
4 Align resources in the state

85. Aligning statewide resources around the objective of
growing and supporting this economic segment
...and we have GREAT resources.
Office of Tourism

86. So, where can we go from here?
Identify what we are1
2
3
Identify market trends
Match Wyoming’s advantages to trends
4 Align resources in the state
5 Message and reach out to our target audience

87. This is not a silver bullet

88. It’s not very risky, but

89. Wyoming can afford to take some risks.
(it’s in our DNA)

90. It can be done relatively inexpensively

91. This shouldn’t slow other efforts

92. It’s simply...

93. Prepared exclusively for ENDOW
An Economic Opportunity
Untapped
^

94. Please let us know if we can help move this forward.

95. Who we are.

96. Jason Kintzler
CEO/Founder
Top 10 PR People to Follow on Twitter
2014
Top 50 Social Media Influencers 2014
2014 Top 50 Content Marketing
Influencers on Twitter
Fabian Lobera
COO
Dept of Workforce Services Council
SBDC Advisory Board
Lander Ambassador
Our Passions:
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