Economic Development
Outdoor recreation facilities and open space areas can be a major source of revenue and economic development for communities. They attract visitors and support a vibrant workforce with quality-of-life amenities that entice new businesses and local investments.
In 2021, the Center for Business and Economic Analysis at the University of Wyoming compiled a report that examines the regional economic impact of the Pilot Hill Recreation & Wildlife Habitat Management Area.
Based on Pilot Hill’s anticipated (trails and trailhead) construction and annual operations spending, the analysis found that Pilot Hill would contribute:
- $1.2 million in added value to the region’s economy over the five-year construction and infrastructure build out period (2020 – 2025), as well as
- $132,000 yearly through ongoing operations.
To put the $1.2 million in perspective, the direct impact of Pilot Hill’s construction is estimated at 11% of the annual non-residential construction sector in Albany County.
In addition, visitors to Pilot Hill benefit the regional economy, especially due to purchases made for meals and lodging. The study notes that Pilot Hill will potentially:
- Attract 45,000 non-local visits per year.
- Each year, visitors will generate $5.8 million in added value to the regional economy
- and support 150 jobs.
These visitors are also expected to generate about:
- $1 million annually in sales, lodging and property taxes from their spending.
The additional local tax revenue is estimated at 3% of Albany County’s total revenue.