'Economy is more diversified already than many people believed'

Officials release list of target industries for development

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More manufacturing would strengthen Casper's economy, according to development officials and a new analysis of target industries that might be successfully wooed to Natrona County.

Included are makers of turbines; manufacturers of conveying and materials handling equipment; overhead crane, hoist and monorail systems manufacturing; industrial truck, tractor, trailer and stacker machinery manufacturing; and high-end industrial services and production, such as machine shops and heat-treating facilities.

"A very pleasant surprise is there's a very significant manufacturing sector in Natrona County already," said Jim Bruce, president of Georgia-based Business Facility Planning Consultants, the firm that conducted the "targeted industry analysis."

"The economy is more diversified already than many people believed," he said.

In the medical arena, manufacturers of irradiation apparatuses, in-vitro diagnostic substances, medicinal and botanical manufacturing, and medical laboratories are among the recommendations.

"Wyoming Medical Center is the State's largest and most comprehensive health care facility and, as an independent not-for-profit corporation, has the ability to engage in business ventures," according to the analysis. "The health care industry is one of the fastest-growing in Wyoming and now employs nearly 15,000, with about that many more in related fields. Natrona County has about 15% of this employment, which appears low relative to the size and quality of local medical facilities."

Office facilities also were identified are potential businesses that could help diversify the regional economy.

Robert Barnes, president and CEO of the Casper Area Economic Development Alliance, said the targeting effort doesn't discount industries already located in Natrona County, like the oil and gas industry.

"Diversification does not mean ignoring what you have," he said.

The targeting report identifies activities like oil and gas field machinery and equipment manufacturing, and construction machinery manufacturing as avenues to explore.

The goal is to attract solid businesses that pay good wages, Barnes said.

"We seriously have no crystal ball as to what's going to happen," Bruce said, so the intent was to provide CAEDA with a wide range of choices.

One factor was to find ways to provide "appropriate and sustainable" jobs for well-educated young people who now frequently leave the state, he added.

The analysis consists of three reports: on economic development strengths, weaknesses, opportunities and threats; a competitive/comparative analysis of Casper relative to other selected locations; and recommendations for marketing targets.

Cost of the study, including materials yet to come, was $49,000, paid by CAEDA and the Economic Development Joint Powers Board composed of representatives from the City of Casper and Natrona County.

Barnes said still ahead are marketing reports tied to specific industry sectors, and "building a business case for those companies to be in Natrona County."

Business Editor Tom Mast can be reached at tom.mast@trib.com, or call 307-266-0574.

These are key points on economic development in Natrona County from a report by Business Facility Planning Consultants, LLC. The results are based on discussions with local people and independent research.

Strengths

- Natural resources: wide range of energy and mineral resources

- Technological and business expertise: specifically in the development of natural resources

- State business climate: laws, regulations and policies supportive of private sector

- Growing industrial base: significant manufacturing base, at least partly independent of natural resources and mining sector

- Local investors and developers: willingness to invest in Casper

- Low to moderate costs: in key areas like electricity, construction and taxes

- Local labor supply: success in recruiting and retaining core employees

- Casper College: programs and low cost

- Airport: capable of supporting economic development

- Health care, other regional activities: Casper serves as regional center in health facilities and some professional services, though not as much as might be expected in retail

- Infrastructure: capacity of water treatment plant, telecommunications

- Strong central business district: well maintained, diverse businesses

- Ground transportation: generally good, including interstate highways

- Local schools: high quality, relatively well paid teachers

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