2 of 5 Things You Must Know This Month
One of the greatest songs of all time is Celebrate by Kool and the Gang.
Lately, if you've been listening to some media outlets or elected officials, you wouldn’t have a clue that in Cheyenne’s economy, “there’s a party going on right here, a celebration to last throughout the year” (if you don’t understand you didn’t listen to the song.)
Things are rockin' here in Cheyenne! The housing market is stellar, sales tax is steady and rising, and unemployment is nearly non-existent. So, why all the negative Nancy's? (If your name is Nancy, or if you’re a female, there is no slight intended just think negative Ned or Nelly or whatever you prefer 😊)
Certainly, some major events last year that gave us unexpected financial windfall. The Capitol was being rebuilt, HollyFrontier Refinery went through a retrofit, Dyno Nobel was doing a bunch of work, wind farms were being built, and the oilfield was clipping along at a strong pace.
As these activities wound down, the economy certainly slowed its feverish pace, but still maintained stellar levels. How do I know? I review sales tax numbers every month. Granted, I was educated in Oklahoma, so I may have to take my socks and shoes off for this cipherin'. But at least I can use base-ten without the 6th toe messing me up like it does some of my Texas friends!
Back to the SPOT tax. The January 7th report showed collections of $2,000682.83 compared to $1,831901.92 collected during same period a year earlier. That’s an increase of 9.2%. Last time I checked, a 3-3.5% increase is excellent performance, so what we have been doing is close to unbelievable. SPOT tax reports are public record and a direct and very dependable way to look at what is happening in the economy.
Simply put, all signs point to future success for the economies of Cheyenne, Laramie County, and the northern front range.
Enjoy it people! Take pride in the hard work you have done to make your business work and our economy thrive. It takes all of us to make things really go, and factually, we have reason to Celebrate!
- Dale Steenbergen, President/CEO of the Greater Cheyenne Chamber of Commerce