Wyoming economic development zones.

21LSO-0388
2021
STATE OF WYOMING
21LSO-0388
ENGROSSED
3.0

HOUSE BILL NO. HB0170

Wyoming economic development zones.

Sponsored by: Representative(s) Henderson, Banks, Duncan, Greear, Newsome, Sweeney and Zwonitzer and Senator(s) Wasserburger

A BILL

for

AN ACT relating to economic development; requiring the Wyoming business council to identify Wyoming economic development zones and to assist with applications for federal economic development district identification; requiring reporting as specified; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.

W.S. 9
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12
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115 is created to read:

9
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12
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115.

Wyoming economic development zones.

(a)

The council, in consultation with local economic development organizations, chambers of commerce and other
state agencies as deemed appropriate by the council, shall identify Wyoming economic development zones for the purpose of economic development, developing a trained, competitive workforce and the revitalization of economically distressed areas within Wyoming. In identifying Wyoming economic development zones, the council shall consider need indicators pursuant to subsection (b) of this section, success indicators pursuant to subsection (c) of this section and the commitment of local leaders to the development of a comprehensive economic development strategy under 13 C.F.R. 303.7.

(b)

In making a Wyoming economic development zone identification, the council shall consider the following need indicators:

(i)

The extent to which the proposed zone has experienced or is likely to experience a sudden or severe job loss as a result of the closing or downsizing of a business or businesses of economic importance to a local community;

(ii)

The extent to which the median household income within the proposed zone is lower than the state median household income;

(iii)

The amount of property in or near the proposed zone that is underdeveloped or nonperforming;

(iv)

The extent to which property in the proposed zone would remain underdeveloped or nonperforming without an identification.

(c)

In making a Wyoming economic development zone identification, the council shall consider the following success indicators:

(i)

The strengths, weaknesses, opportunities and threats related to the viability of economic development within the proposed zone;

(ii)

The local public and private commitment to development of the proposed zone and the potential cooperation of the surrounding communities;

(iii)

The potential for the proposed zone to establish, produce and maintain jobs within the state;

(iv)

The existing resources available to the proposed zone;

(v)

The extent to which any of the following facilities or industries could be feasibly established,

maintained or expanded within a proposed zone:

(A)

Carbon capture and sequestration facilities on or near existing coal fired power plants, other power plants or other emission sources;

(B)

Renewable energy production, siting, manufacturing, development and storage;

(C)

Laydown areas to facilitate the construction, maintenance, reclamation or operating efficiency of existing or new facilities;

(D)

Enhanced oil recovery, including related research and development;

(E)

Oil, gas and coal, including any efficiencies or savings generated by integrating renewable energy sources;

(F)

Infrastructure, transportation, manufacturing, supply chain integrity and logistics;

(G)

Innovation and technology, including broadband deployment and related telecommunications services;

(H)

Mining, including rare earth element and critical mineral extraction;

(J)

Small to medium sized modular nuclear reactors;

(K)

Value added agricultural developments;

(M)

Value added outdoor recreation;

(N)

Financial technology and innovation;

(O)

Any other facilities or industries which could be feasibly established, maintained or expanded as determined by the council.

(d)

Prior to making a Wyoming economic development zone identification, the council shall coordinate with affected counties and municipalities to consider and evaluate the need indicators pursuant to subsection (b) of this section, the success indicators pursuant to subsection (c) of this section and any comprehensive economic development strategy established pursuant to 13 C.F.R. 303.7 which affects those counties and municipalities.

(e)

The council shall assist and coordinate with the local leaders of any Wyoming economic development zone with a comprehensive economic development strategy established pursuant to 13 C.F.R. 303.7 to apply for designation as an economic development district under 13 C.F.R. 304.1.

(f)

Not later than November 1, 2021 and by every October 15 thereafter, the council shall report to the joint minerals, business and economic development interim
committee concerning the Wyoming economic development zones established under subsection (a) of this section. The report shall include:

(i)

Recommendations for legislative or regulatory changes which would support, facilitate or encourage economic development, the development of a trained, competitive workforce and the revitalization of communities within Wyoming economic development zones;

(ii)

Recommendations for legislative or regulatory changes which would streamline or simplify the process by which entities establish, site or otherwise locate industries or facilities within Wyoming economic development zones;

(iii)

The projected economic impact of each recommended legislative or regulatory change if enacted, including the jobs created and the effect on the local community;

(iv)

The status of all Wyoming economic development zones identified by the council, including the
realized economic impact of any enacted legislative or regulatory change.

Section 2.

This act is effective immediately upon completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution.

(END)

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HB0170