Relocating to Upton Can offset Rising Inflation

Relocating to Upton Can offset Rising Inflation Main Photo

19 Aug 2022

News, Blog

Inflation has become the front and center topic of discussion across the country. The cost of everything from groceries and gasoline to real estate and utilities is on the rise. As businesses see the cost of goods soaring and consumers pay more at the checkout stand and in their monthly bills, they question how to save money. Upton may be the answer. 

National reports indicate current inflation rates have exceeded 8% - higher than at any time since the 1980s. As of July 2022, real average hourly earnings for U.S. employees increased by 0.5%, resulting in a 1% increase in the Consumer Price Index for All Urban Consumers. Even more alarming is the 3.6% decrease in real average earnings from July 2021 to July 2022.

Five ways to save money by moving to Upton

Relocating to Upton offers multiple ways for businesses and employees to save money.

#1 - Lower your personal taxes by moving your residence to Upton.

Wyoming does not have an individual income tax. In 2022, the Tax Foundation qualified Wyoming with the country’s second-lowest state and local tax burden at 7.5%. That means every family retains more of each paycheck, even if their salary doesn’t go up. The best part of this strategy is that it continues to yield dividends year after year. Even when inflation calms down, people in Wyoming will still benefit from having lower taxes. 

#2 - Reduce corporate taxes by bringing your business to Upton.

Wyoming also does not have a corporate income tax and a low average combined state and local sales tax rate of 6%. These significant factors have resulted in Wyoming being the #1 state in the nation in the Tax Foundation’s 2022 Business Tax Climate Index! 

#3 - Enjoy a lower cost of living in Upton.

According to BestPlaces, Upton’s cost of living is 14% lower than the national average. Housing, utilities and transportation prices are all significantly lower than elsewhere, making it more affordable for families to live in Upton than in most other locations.

#4 - Upton has incentives for new and expanding businesses.

Being in the most business tax-friendly state in the nation means Upton has various financial incentives that can help enterprises reduce project costs. The Upton Economic Development Board works with the Town of Upton, Wyoming Department of Workforce Training, Wyoming Business Council and USDA agencies, including the Economic Development Administration and Rural Development, to access grant and loan programs for infrastructure, development projects and workforce training.  Additionally, the UEDB has scholarship and grant programs that help cover the cost of education, certifications, professional training and support community programs and projects.

#5 - Site selection is more accessible and affordable in Upton.

Upton knows how to assist businesses with relocation services. The development review process, including zoning and permitting, is exceptionally efficient and affordable. Several buildings and site locations are available, from small retail shops to industrial, warehouse and distribution sites in Tiger Transfer Upton Logistics Center and residential development sites. 

Upton will save you money and combat inflation!

Inflation is driving costs higher than at any time since 1981, but Upton offers businesses and families shelter from the storm. Relocating or expanding in Upton can save money and the long-term financial benefits are worth the investment. Contact Stephanie Salazar at today to learn more about the advantages Upton can offer!

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