Evanston Economic Development 2024 Year In Review

Evanston Economic Development 2024 Year in Review

As 2024 draws to a close, we reflect on a year filled with challenges, progress, and opportunities for Evanston. From addressing workforce shortages to welcoming innovative businesses, this year has been a testament to our resilience and determination to build a thriving future. This review highlights key developments, trends, and initiatives shaping Evanston’s economy and community. We hope it informs and inspires as we step into 2025.

Shifting Demographics: A Double-Edged Sword

Wyoming continues to experience some of the fastest population aging in the nation, and Uinta County mirrors this trend. Here’s what the numbers reveal:

• 18% of our population is now 65 or older—a 65% increase since 2010.
• Since 2020, our population under 18 has decreased by 3.3%, adding urgency to efforts to retain young families.
• Meanwhile, our county boasts one of Wyoming’s highest percentages of preschool-age children at 5.7%.

While an aging population poses workforce challenges, our youngest residents represent a bright future. By investing in family-friendly infrastructure and workforce housing, Evanston can support both current needs and future growth. 

Housing Need

Evanston faces a critical need for between 500 and 1,100 new housing units by 2031, primarily workforce housing. Rising rents and home prices are outpacing wages, leaving many families in a tough spot. How can we close the gap?

We need to explore bold solutions, including:

• Creating a "Sandbox" Residential Zone or PUD: Reducing development restrictions like minimum lot sizes and setbacks to lower costs while maintaining quality.
• Simplifying Development Processes: Predictability is key. Streamlining approvals can attract developers to our community.
• Affordable Housing Revolving Loan Fund: Using impact assistance funds to offer low-interest loans for infrastructure tied to workforce housing construction.

Through these strategies, we aim to make Evanston a model for innovative, community-focused housing development.

Housing Needs Assessment 

HGL P2P Housing Summary, 

Major Industrial Projects:

You may have heard about the Terra Power Natrium Demonstration project, located 40 miles north of Evanston, near Kemmerer. This exciting development is one of many significant industrial developments planned for Southwest Wyoming over the next five years. The City of Evanston has been identified as an affected community for two additional multi-billion-dollar projects: Project West and Pacific Soda, Dry Creek. These Trona mining projects are situated on the west end of Sweetwater County and are expected to bring in a construction workforce of roughly 3,000.

While these two projects will require an average of 550 construction workers in Evanston, when considering the Natrium Demonstration project, the cumulative impact from July 2026 to July 2030 could result in the need to house more than 950 construction workers and their families.

Evanston is expected to receive approximately $3,670,323.10 in impact assistance funding from these projects. These funds will be paid to Uinta County and distributed to Evanston in monthly installments throughout the construction period.

While these developments represent a tremendous opportunity for our regional economy, they also present significant challenges for local government. We are committed to rising to these challenges.

Recruiting: A Diverse and Innovative Economy

2024 was a milestone year for business recruitment in Evanston. By focusing on attracting companies that align with our community’s needs and values, we’ve made significant strides in economic diversification, job creation, and local investment.

APEX Performance: Innovation Meets Opportunity

One of the year’s standout successes was the sale of a 4.5-acre site at Union Center Business Park to APEX Performance, an off-road performance product manufacturing company based in Park City, Utah. APEX chose Evanston as the ideal location to expand operations, citing our:

• Skilled workforce ready to meet the demands of advanced manufacturing.
• Strategic location along major transportation routes, ensuring easy access to suppliers and markets.
• Business-friendly environment, with competitive corporate taxes (or lack thereof) and streamlined processes.

This move strengthens Evanston’s manufacturing sector, creates high-quality jobs, and sets the stage for future agglomeration effects—where similar businesses cluster for mutual benefit.

Black Mesa Advanced Fission: Powering the Future

Evanston welcomed another cutting-edge company, Black Mesa Advanced Fission (BMAF), which purchased an industrial property north of the city. Specializing in nanoreactor and fission technology, BMAF’s innovative solutions provide reliable, compact power sources with wide-ranging applications.

With its Portable Fission Generator R&D and production facility now based in Evanston, BMAF brings a unique industry to our region, positioning us as a hub for advanced energy technologies. This development aligns with Evanston’s goals of economic diversification and sustainability.

Shades of Pale Brewing: Revitalizing Historic Spaces

The iconic Roundhouse saw new life this year as Shades of Pale Brewing entered into a long-term lease and development agreement. The brewery’s plans include:

• A state-of-the-art production facility for beer and malt beverage distribution.
• A restaurant and brewpub, adding a vibrant gathering space for locals and visitors alike.
• Significant investments in restoring and utilizing the historic space, preserving Evanston’s unique character.

Brewery tourism is a growing sector in Wyoming, contributing over $200 million annually to the state economy. Shades of Pale’s presence will not only enhance our tourism appeal but also bring economic activity to downtown Evanston.

A Thoughtful Approach to Recruitment

Evanston’s recruitment strategy focuses on industries that bring long-term value to our community. We prioritize companies that:

• Create sustainable jobs across diverse sectors.
• Invest in the local economy and infrastructure.
• Align with Evanston’s identity as a welcoming, innovative, and forward-looking community.

Our active recruitment efforts ensure that new businesses are more than just employers—they’re partners in building a thriving Evanston.

As we approach 2025, we remain committed to:

• Strengthening regional partnerships to attract high-impact industries.
• Showcasing Evanston’s advantages through targeted marketing campaigns.
• Continuing improvements at Union Center Business Park, making it a prime location for future investments.

How Can We Improve?

In Wyoming, we have several economic development tools at our disposal:

• Wyoming Business Council (WBC) and their Business Ready Communities Grant Program
• Industrial Revenue Bonds
• Tax Increment Financing (TIF) in Urban Renewal Authority (URA) districts
• Economic Development Administration (EDA) Grant Programs
• Opportunity Zones, which provide capital gains deferment to investors
• Our lack of corporate income tax

These tools are invaluable and have been successfully utilized in our community; however, they come with challenges. Most require local government to be directly involved in project financing, which can make them cumbersome, risky, and frustratingly slow to implement.

By comparison, the State of Utah offers an innovative program called Economic Development Tax Increment Financing (EDTIF). This program shifts the responsibility for financing, construction, and job creation entirely to the company receiving the incentive. It requires no upfront funding or lengthy grant application process from the government.

Here’s how EDTIF works:

• The State of Utah evaluates projects applying for the EDTIF program based on a set of criteria and enters into an incentive agreement.
• The tax credit is a post-performance, refundable tax credit for up to 30% of new state revenues over the life of the project, typically 5-10 years.
• Rural areas are treated more favorably and offered this incentive for a broader range of developments.
• If the project doesn’t meet the agreed-upon criteria, the state isn’t obligated to provide the incentive.
• If the project fulfills its obligations, the additional taxes it generates for the state and community cover the cost of the incentive. This results in a more efficient use of tax dollars.

Implementing a similar program in Wyoming wouldn’t replace tools like the WBC Business Ready Communities Grant Program. Instead, it would complement them. For instance, EDTIF could incentivize more companies to invest in Wyoming, leading to increased demand for the infrastructure projects funded by the Business Ready program. Together, these tools could create a more dynamic and responsive economic development strategy.

Tourism: Evanston’s Gateway to Growth

Tourism is rapidly becoming one of Evanston’s most impactful industries, ranking just behind healthcare and construction. Thanks to strategic initiatives and investments in 2024, the sector continues to thrive, drawing visitors from across the region and boosting the local economy.

Rebranding for Success

This year marked a significant milestone with the launch of Visit Evanston, a dedicated tourism brand and online hub at www.visitevanston.com. The site serves as a one-stop shop for travelers and locals alike, offering:

• Information on Evanston’s lodging, dining, and attractions.
• A calendar of community events to plan the perfect visit.
• Grant and sponsorship opportunities to encourage exciting, visitor-friendly events.

Driving Tourism Through Events

Recognizing the power of events to draw crowds, the Evanston Lodging Tax Board supported several new and recurring events in 2024, including:

• Evanston Cowboy Days: Attracted over 3,000 attendees, showcasing our western heritage through rodeo, crafts, and cultural events.
• Evanston Brew Fest: Highlighted regional craft breweries, filling hotel rooms and creating a $100,000 economic impact in a single weekend.
• Celtic Festival: Welcoming authentic Celtic musicians, food vendors, and makers. This unique event draws thousands from across the region. 

These events, supported by grants and sponsorships, are not just fun—they are vital economic drivers, increasing hotel occupancy and spurring spending at local businesses. Learn more about our grant and sponsorship programs at https://www.visitevanston.com/about-us/grant-application/.

Economic Development Sales Tax: An Investment in Evanston’s Future

For the first time, Evanston and Uinta County proposed a ½ cent economic development sales tax to fund critical community investments. While the measure didn’t pass, it sparked valuable conversations about Evanston's future and how we can stay competitive in attracting businesses, residents, and visitors.

Why Was This Tax Proposed?

Evanston faces both opportunities and challenges as it grows. The proposed sales tax aimed to provide a dedicated funding source for projects that could drive long-term economic growth, including:

• Fiber Internet Expansion: Improving connectivity to attract modern businesses.
• Water Transmission & Road Extensions: Ensuring our infrastructure can support new developments.
• Affordable Housing: Addressing a critical workforce housing gap.
• Business Development & Entrepreneurship: Supporting programs like Jumpstart Evanston to empower local innovators.

These investments would have created a more business-friendly environment while improving the quality of life for residents.

Setting the Record Straight: Dispelling Misconceptions

While no one enjoys additional taxes, there were several misconceptions about this proposal. Here’s the reality:

• Visitors Would Pay Their Share: Approximately 55% of sales tax revenue in Evanston comes from visitors, meaning the tax burden would not fall solely on residents.
• Accountability Is Built In: The funds would be managed by the city’s elected officials, subject to third-party audits, ensuring transparency and proper use of every dollar.
• It’s Not Permanent: The tax would be reviewed and voted on every four years, providing opportunities to adjust priorities or discontinue the measure if needed.

The Cost of Inaction

Without this funding source, Evanston risks falling behind neighboring communities in terms of economic development. Essential projects like improving infrastructure, recruiting new businesses, and supporting affordable housing will remain underfunded or delayed.

A Vision for the Future

Although the measure didn’t pass this year, the discussion highlighted several key areas of opportunity. As we move forward, we encourage continued dialogue between local leaders, businesses, and residents to ensure Evanston remains competitive and forward-thinking.

As a resident, your voice matters. Participate in town halls, share your thoughts with elected officials, and stay informed about future proposals. Economic development is a collaborative effort, and with community support, Evanston can achieve great things.

In the meantime, we’ll continue exploring alternative funding sources, partnerships, and innovative solutions to build a stronger Evanston.

Empowering Local Entrepreneurs

In 2024, Jumpstart Evanston celebrated its fifth year of fostering innovation and entrepreneurship in our community. This seven-week program is more than just a crash course in small business management—it’s a network of innovators.

“Attending Jumpstart Evanston provided me with the building blocks to start putting a successful company together. The business plan I built during the program continues to guide our strategy and planning, and I am still able to lean on the network of subject matter experts that I met through the program.  A grant from Jumpstart Evanston helped Dare 2B Safe purchase some equipment that fueled our cashflow early on.”

-Lance Norris, Owner & Chief Consultant, Dare 2B Safe

By the Numbers

Here’s how Jumpstart has made a tangible difference over the years:

• 50+ graduates equipped with the skills to run their own businesses.
• Over $50,000 in grant funding awarded to support promising ventures.
• Hundreds of hours of mentorship, workshops, and hands-on guidance provided by local business leaders and the Small Business Development Center.

In 2024 alone, the program helped launch two new businesses, including:

• Rogue Pest Control
• New Look Painting

Several other citizens participated and started their own businesses without financial assistance from Jumpstart.

These businesses contribute to Evanston’s economy and enrich our community by filling service gaps and creating local solutions to local problems.

What Makes Jumpstart Special?

The program’s strength lies in its comprehensive, practical approach:

• Focused Curriculum: Weekly sessions cover essential topics, such as business planning, licensing, marketing, and profitability.
• Access to Resources: Participants connect with funding opportunities, local advisors, and peers facing similar challenges.
• Grant Opportunities: Graduates can submit their business plans for a chance to win seed funding. In 2024, $10,000 in grants were distributed to help new businesses take off.

Looking Ahead to 2025

As we prepare for Jumpstart 2025, we invite aspiring entrepreneurs to join us and bring their ideas to life. The program begins on January 15th at 6:00 PM in the Roundhouse. Registration is open at www.jumpstartevanston.org/register.

Jumpstart Evanston continues to prove that small businesses can achieve big things with the right tools and a supportive community. 

Jumpstart is a 501c3 non-profit organization.

Conclusion

As we look back on 2024, it’s clear Evanston is on a path of stabilization and growth. While challenges remain, our collective efforts—whether in housing, industrial development, or entrepreneurship—shape a stronger, more resilient community.

I am excited and eager to serve Evanston in 2025.   

Let’s continue to invest in our local economy, support one another, and welcome new opportunities with open arms. Together, we can ensure Evanston thrives for generations to come.

Best,

Rocco O’Neill

Director, Community Development

As a final note, I would like to acknowledge the hard work of my staff: Mieke Madrid, Jesse Hawkins, and Micki Cox. I also want to extend my gratitude to our outstanding facilities team: Brady Odden, Spencer Huffaker, Ryker Zuehlsdorff, Dawn Nichols, Martha Eguade, Maria Bermudez, and Rosa Antunez.

Which Economic Development initiative is most critical? 

1. Workforce Development / Education 
2. Downtown Enhancement
3. Affordable Housing 
4. Recreation & Tourism
5. Entrepreneurship 
6. Business Recruitment and Expansion
7. Other

Leave your thoughts here: https://forms.gle/zMBGHtbhcZeAR3bA7