What PRCA’s move to Cheyenne might mean for the local economy

CHEYENNE — Wyoming will continue to grow its reputation as the Cowboy State after the Professional Rodeo Cowboys Association officially signed a development deal in late April to relocate its national headquarters, the ProRodeo Hall of Fame and the Museum of the American Cowboy to Cheyenne. Estimates indicate that the transition from Colorado Springs, Colorado, which has served as the organization’s home since 1979, will bring $256.2 million to Laramie County following a $15 million commitment from the state to support the move. The new center will be located on 35 acres of the 415-acre Hitching Post Business District. The PRCA will serve as the “anchor” tenant, according to a release from the Greater Cheyenne Chamber of Commerce, in the area located near the interchange of Interstates 25 and 80. This location is intended to capture the attention of millions of travelers who pass through the area annually. Dale Steenbergen, president and CEO of the Greater Cheyenne Chamber of Commerce, said the move is about more than just business. It’s also about preserving local culture amid rapid growth. “Cheyenne’s a hopping spot right now,” Steenbergen said. “We’ve got all kinds of businesses located here, and all kinds of projects from the Sentinel missile system to data centers to a lot of other things. So, in the middle of all that melee, if you can do some things that help keep you grounded and tied to your identity, I think that’s all good. And that is what we are able to do through the PRCA moving here.” In January, the PRCA released a statement before officially announcing its plans to relocate to Cheyenne. “Wyoming lives and breathes rodeo, and Cheyenne offers authenticity, visibility and alignment with our sport’s values,” PRCA CEO Tom Glause wrote. “The opportunity to build a purpose-driven campus that celebrates rodeo’s history while supporting its growth is incredibly exciting.” Glause added that as the organization celebrates its 90th year, the move provides “the best chance at success for the next 50 years.” Cheyenne LEADS, which is the economic development corporation for Cheyenne and the rest of Laramie County, released 10-year economic impact estimates for the region following the move. It estimates the PRCA development will generate $252.6 million in total economic benefit for Laramie County. This includes the creation of 368 construction-related jobs and 140 permanent positions once the facility is fully operational. Additionally, by its 10th year, the ProRodeo Hall of Fame alone is expected to generate a net new annual economic impact of $12 million. “This announcement reflects both Wyoming’s legacy and its future,” Betsey Hale, CEO of Cheyenne LEADS, wrote in a press release. “Rodeo is woven into the fabric of our state, and welcoming the PRCA, its headquarters, and the Hall of Fame to Cheyenne is a natural fit. The Cheyenne LEADS Board strongly believes in this opportunity and voted to invest $15 million as a show of commitment.” The project is backed by a $30 million public-private partnership. The Wyoming Legislature and Gov. Mark Gordon approved $15 million in state funding from the Wyoming Tourism Reserve and Projects Account earlier this year, which was matched by a $15 million commitment from the reserves of Cheyenne LEADS. Cheyenne residents will also vote this August on continuation of the sixth-penny sales tax for multiple potential projects. One of the proposals is for the tax to fund road infrastructure for the Hitching Post Business District to support the PRCA and attract future businesses to the area. Steenbergen said he has conducted local polling that indicates strong support for the measure. While calling for skepticism in the use of public funds to support private development, Steenbergen said he is optimistic about the use of state funds to support this project. “This was money that was already allocated for a tourism project. So, the state money is a natural fit for this,” he said. “... Typically, tourism dollars roll into the community three to four times, so every dollar we can bring in, we just get a multiple of four for (economic) impact on the community. “All we’ve got to do is get (tourists) to stop as they’re driving up I-25 and spend a few bucks and it’s going to pay for itself very quickly,” Steenbergen said. Cheyenne LEADS’ plans for the broader Hitching Post District are to develop the area into a year-round Western destination. According to LEADS, the vision for the area includes potential hotels, a convention center and an indoor arena for equestrian events. Gordon also praised the move in an official statement, stating, “Rodeo has been a part of Wyoming since before we were a state. It is in our DNA. ... There is no better place on Earth than right here in the Cowboy State for the PRCA to be headquartered. We have the legacy, respect the tradition, and will always honor the cowboy way and Code of the West. Powder River, Let ‘er Buck!” The target for completing the new campus is early 2029. “We’ll welcome this new business that realizes the potential of Cheyenne and Wyoming,” Steenbergen said. “We welcome all new businesses. We want them to understand that Wyoming is a great place to live, work and do business. And with the PRCA, we’re helping build that reputation.”