Forward Cody is Investing in Entrepreneurs and Existing Businesses

Cody, Wyoming, located in the northwest part of the state, has experienced consistent growth in recent decades. Its proximity to Yellowstone and nightly rodeos and western re-enactment shootouts give it a strong tourism economy, but the region is known for so much more. Jake Hogan, who stepped into the role of President and CEO of Forward Cody in January 2025, is working with the community and his board of directors to develop plans for strategic, sustainable growth.

“We would like to see our economy while at the same time, protect the cultures and values that make Cody a unique community,” says Hogan. “We want Forward Cody to be a resource for businesses in all stages. Our members are the greatest resource we have.”

Sustainable economic growth starts with local investment. Learn about the goals of Forward Cody and how this organization will support residents now so they can be successful in the future. 

Forward Cody Will Invest in Entrepreneurs 

There is a significant push for entrepreneurship across Wyoming, from the development of the WyoHub to the startup challenges in Gillette. Wyoming has always been strong because of its people, and organizations like Forward Cody want to inspire new business development while supporting the residents who call this state home.

“One of the best paths for economic development is entrepreneurship,” says Hogan. “We can’t create more businesses without entrepreneurs being active.”

Investing in entrepreneurship is a stable way for economic development teams to grow their communities. Resources aren’t spent recruiting people to the state, because entrepreneurs are already here. There’s also less risk of companies pulling out of Wyoming because the entrepreneurs starting businesses already have strong roots in the area.

Wyoming leads the country in entrepreneurship. It ranked first in the nation for the number of business applications per capita in 2023, with 58,807 applications submitted. The business owners are already here; it’s up to economic development teams to support them.

“We want to bring people together to share ideas and form strong partnerships in our community,” says Hogan. “The more people interested in starting businesses in Cody, the more we can be a resource for them.”

When a new restaurant opens, the owner can hire a local accountant, marketing firm, and print shop vendor. One new company brings business to three. Everyone works together to grow Cody and support the diversification of its economy. 

Economic Development Teams Share Tools and Resources

While entrepreneurs will bring Wyoming into the future, existing businesses have played an invaluable role in creating its current economy. Forward Cody has plans to support existing companies in the region to help them grow and achieve their long-term goals.

“One question we continuously ask is how we can be a good partner to local businesses,” says Hogan. “Cody has all the intellect, skills, and work ethic to solve problems. Our goal is to get the right people in the right rooms.”

Existing support might involve offering training seminars, lunch and learns, and networking events for business owners. It could mean sharing statewide resources to help companies embrace new trends that streamline operations and support growth.

“Once we send dollars out of our economy, they are hard to get back in,” says Hogan. “When we do business together, the money stays in our community, and that’s important for small businesses in communities like Cody to thrive.”

Investing in existing firms can help keep their doors open while potentially preparing them to expand. The team at Forward Cody wants to create a stable economy with employers committed to the area.

“The labor market in Cody is tight,” says Hogan. “We want to ensure the companies here have the staff, resources, and knowledge they need to achieve their goals.” 
Forward Cody Has a Year-Round View of Economic Development
Tourism is an unmistakable part of Cody’s economy, but it doesn’t always create year-round, full-time jobs. Part of Forward Cody’s mission is to support job growth that benefits residents and increases their stability.

Economic development is often focused on business expansion and retention, but the average resident is also impacted by its efforts. The types of jobs that companies create will affect the future finances of residents. Communities also need opportunities to grow their skills and acquire knowledge that can be used across different industries. While Cody’s economy may change, the hirability of the local workforce will not.

“We want to create an economy that provides for the next generation in Cody,” says Hogan. “If kids leave for college, we want to make sure there are plenty of opportunities for them when they decide to return.” 

Forward Cody Reflects the Changing Economy of Wyoming

Several communities across Wyoming are poised for change as new industries develop and residents turn their business ideas into viable startups. While growth is exciting, it needs to be sustainable. The benefits to the community need to reach all industries and residents. Forward Cody has a vision for the future that will help it grow. It’s exciting to see it change.

Learn about the best practices of other towns and cities in Wyoming through the Wyoming Economic Development Association (WEDA). Let us help you connect with other leaders who can share their insights. When economic development teams work together, the whole state benefits. Explore our networking, advocacy, and education opportunities and grow with us today.