For the fifth consecutive year, Wyoming has ranked first in the nation in the Tax Foundation’s annual State Business Tax Climate Index, Site Selection reports.
The ranking evaluates state tax systems across five categories: individual income, corporate income, sales, property, and unemployment insurance taxes. Wyoming’s continued dominance is largely attributed to the absence of both corporate and individual income taxes, as well as its lack of inventory, occupation, franchise, and value-added taxes.
“These studies confirm what we’ve long known in Wyoming: this is a pro-business state with a low cost of doing business, direct access to the governor and legislators, and a low regulatory burden,” said Shawn Reese, CEO of the Wyoming Business Council.
Laramie Business Expansions:
Wyoming’s favorable business environment has attracted significant investments, particularly in Laramie, where two major projects are underway:
- Plenty Unlimited’s Vertical Farming Expansion
In February 2023, Plenty Unlimited, an indoor agriculture company, received a $20 million state grant to expand its vertical farming research center in Laramie. The expanded facility will support advanced research in crop development, enabling the company to cultivate a wider variety of plants in controlled environments. Sasha Preuss, vice president of plant science at Plenty, emphasized the center’s role in developing crops for regions with diverse climates, such as the Middle East, bolstering global food security. The expanded center is slated to open in summer 2026. - Eagle Materials’ Cement Plant Expansion
Eagle Materials, a producer of construction materials, is investing $430 million to expand its cement plant in Laramie and a related distribution facility in Colorado. The expansion is expected to increase the plant’s manufacturing capacity by 50% and will be operational by the second half of 2026.
