Newsletter May 2010

Volume 1 Issue 7                                                                                                                                                     May  2010

Laramie's Growing Technology Sector

Laramie has a vibrant and growing technology sector which is quickly becoming a valued economic force in the community.  Over the last 15 years, the technology sector in Laramie has experienced strong growth. Dr. William Gern, Vice President of Research and Economic Development at the  University of Wyoming, revealed that before 1994 the technology sector in Laramie was only composed of 9 companies.  Currently, there are 50+ technology businesses operating in Laramie, representing all stages of business development.

Having the University of Wyoming (UW) located in Laramie provides strong support for technology-based businesses. UW has set a new record for external funding every year for the past 25 years.  For the 2008-2009 fiscal year UW booked $82 million in external awards.  That works out to over $1.5 million per week!  This year UW has already passed the $90 million mark.

UW currently has dozens of patented technologies available for licensing. The institution has a generous licensing policy in order to encourage the commercialization of its patents and the development of technology businesses.  This past year UW developed 37 patent disclosures on $66 million in federal funding.  With its generous policies and commitment to Laramie's technology sector development, it's no surprise that about 85% of the technology businesses have some connection to UW.

One of the key developments within this sector was the opening of the University's Wyoming Technology Business Center (WTBC).  This 30,000 square foot facility, which opened its doors in 2006, is focused on the development of early stage technology-based businesses.  The WTBC has already had two companies graduate from its business incubator and relocate in downtown Laramie.

Falcon Technologies is the first company and it produces specialty computers for day traders.  This organization has had a five year growth rate of over 400% and was named to Inc. Magazine's 2009 Inc. 5000 list as the 686th fastest growing company in America and the the 4th fastest growing company among computer hardware firms!

The second company to graduate from the WTBC is Firehole Technologies.  Firehole is producing software used by composite material manufacturers to conduct fault analysis and improve the design of products. The company has shown strong grow and recently acquired CompositePro from Peak Composites, Inc. and has been awarded a contract with Lockheed-Martin as it develops the F-35 Joint Strike Fighter.

The continued advancement of the technology sector is important for Laramie's economy and the future of our community.  Not only do these companies typically pay higher wages and provide better benefits, they produce products that are sold outside of the area, which introduces new dollars to the community and supports local service providers and retail locations.  Please contact LEDC at 307-742-2212 for more information.

LEDC May Client Report

As always, we encourage you to contact us for more information about our activities.

Click Here for all of the "Hot" clients as of 5/28/10. In the meantime, please remember the best leads for Laramie come from existing businesses and residents.

Please note: all of LEDC's clients are kept confidential unless they specify otherwise.

Partner Recognition

Opened in October of 2006, the Wyoming Technology Business Center (WTBC) works to develop early stage, technology-based businesses to improve the climate for the start-up and growth of entrepreneurial companies.  The WTBC accomplishes its missions through three programs:  a business incubator on University of Wyoming's campus which includes lab and data center space; an outreach program which offers one-to-one counseling; and an educational and networking program called e2e.

Business Incubator
The 30,000 square foot facility currently houses 13 client companies. These clients employ over 60 people and provide average salaries of $45,000.  An example of the types of businesses operating in the WTBC include:

Happy Jack Software - Has developed an electronic medication administration record that is used by long-term health care facility to improve the administration and record keeping of drug medication.

Pronghorn Technologies - Was launched in August, 2008 as a spin-off from ADA Technologies, Inc. to develop and manufacture sensing systems for water quality monitoring. Pronghorn Technologies is currently testing its Alpha prototype and is developing the Beta prototype for major customer testing in August.

Outreach and e2e
The WTBC has worked with 13 outreach clients across the state.  These companies employ 104 people and have total revenues of $11.6 million.  In January 2009 the WTBC started e2e, a networking and educational group that matches entrepreneurs and people interested in start-ups, in order to promote entrepreneurship and the entrepreneurial climate, and produce more high growth start-up companies.  Over 80 people attend each of the bi-monthly events, which have brought in speakers like Sam Addoms of Frontier Airlines and Hans Peter Michelet of Energy Recovery Inc.
 
For more information about the WTBC, please visit www.uwyo.edu/wtbc/

Wyoming's First Online Site-Selection Tool

Laramie Economic Development Corporation (LEDC) has launched www.laramiewygis.com, making it the first organization in Wyoming to provide businesses with access to powerful online site-selection analysis.

The innovative website is designed to attract and expand businesses and jobs in the City of Laramie and Albany County, with the goal to simplify the process of preparing for relocation and expansion decisions. Now businesses will no longer have to leaf through reams of Census Bureau reports for demographic information or contact multiple city departments for basic data and documents.

"Laramiewygis.org provides immediate access to critical business and development information needed to facilitate job growth in the region," said Gaye Stockman, CEO of LEDC. "Laramiewygis.org sends a clear message to potential business locators: The City of Laramie and Albany County are open and ready for business."
 
What www.laramiewygis.org Does
Laramiewygis.org speeds up and simplifies the process of business attraction and site selection for expanding businesses. It does this by efficiently answering the main questions that businesses have when they are involved in the site selection analysis process. These questions include:

• What buildings and land are available in the community?
• What are the market characteristics (demographics, workforce, and consumer spending)?
• What are the business synergies and opportunities and unique locations of the community?
• What are the unique geographic characteristics and advantages?

All of this information is provided to website users in minutes using laramiewygis.org interactive Internet GIS mapping technology.

"Laramiewygis.org goes far beyond a simple database of available sites and buildings. It provides the needed site selection information that businesses require to identify the unique geographic advantages and business opportunities in the community. Buildings and sites are available throughout the nation; what makes the City of Laramie and Albany County attractive is highly related to the location-specific advantages. Expanding and relocating businesses are able to access this information by leveraging the site-specific power of GIS through the Internet with laramiewygis.org," Tom Johnson, Southeast Regional Director, Wyoming Business Council.

In addition to these tools, ZoomProspector provides dynamic mapping capabilities including the ability to zoom in/out, move the map, identify information and view geographic "layers" of information such as hospitals, railroads, and schools.

The importance of providing quality property and site selection information is critical because over ninety percent of the initial site selection screening is now done using the Internet.

Recognizing that many cities and towns are often overlooked for new job investments if they do not provide quality information online, LEDC responded effectively by creating laramiewygis.org to attract new businesses and to deal with the needs of existing businesses. According to Jodi Guerin, Mayor of Laramie, "laramiewygis.org gathers all of the information sought by local businesses wanting to expand or new businesses looking to relocate into the area.  It combines all of this information into one location and allows users to easily find available commercial property and develop custom demographic reports."

Laramiewygis.org also strengthens the partnership between Laramie Economic Development Corporation and commercial real estate professionals. Laramie Economic Development Corporation is promoting available properties and real estate professionals are assisting in attracting new and better jobs to the region.

"Laramiewygis.org is a great resource for all of us - for residents, for real estate professionals, and for businesses that want to relocate or expand. Those of us involved with real estate in the City of Laramie and Albany County are embracing laramiewygis.org because it is going to expand our customer base," said Paul Greaser, Owner and Broker, The ACRE Company.
 
How www.laramiewygis.org Works
At the heart of laramiewygis.org is a powerful GIS (Geographic Information System) technology called ZoomProspector Enterprise, developed by GIS Planning Inc., which makes this new Internet service more powerful than typical websites. GIS is an integration of software and geographic data designed to efficiently display and analyze information. In the case of laramiewygis.org, GIS allows visitors to rapidly tailor maps and reports to suit their needs and access data that would normally take weeks to collect and thousands of dollars to obtain from specialty data researchers.

For example, available properties can be viewed, along with size, use, cost, and contact information. Corresponding demographic reports such as labor force, education levels, consumer spending, and age can be created. In addition, businesses are mapped by industry showing their distribution and concentrations throughout the area.
 
The free website program is now available to the public online at: www.laramiewygis.org

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