Investing in Agriculture
Wyoming residents rarely link the life insurance business to livestock, hay, barley, wheat, sugar beets and wool. But they should. Life insurers strongly support agriculture in the state. With agricultural mortgage loans totaling $79 million that have been issued to farmers in Sheridan, Gillette, Casper, Riverton and more, life insurers are aiding a major industry in the Equality State.
Investing in Retail
Mining, tourism and agriculture power Wyoming’s economy. But retail plays an essential role as well. It accounts for 22 percent of jobs in the state, according to the National Retail Federation. And life insurer investments totaling $38 million in retail mortgages in the state support many of these 88,000 jobs.
Investing in Education
The University of Wyoming, Casper Community College District and Sweetwater County School District have all issued bonds purchased by life insurers, helping ensure students in the state are prepared for the future. These life insurer investments total $27 million.
Investing in Affordable Housing
Life insurers have purchased bonds totaling $44 million issued by the Wyoming Community Development Authority (WCDA), which “has been making it easier for people across Wyoming to finance their first home.” WCDA provides “low-interest single family mortgages and education to help our customers buy and retain their homes.”
Investing in Infrastructure
The Consolidated Wyoming Municipalities Electric Power System Joint Powers Board has received financing totaling $34 million from life insurers.
Investing in Industry
Life insurers have provided industrial mortgage loans to businesses in Rock Springs and Laramie totaling $15 million.