Weatherford closure illustrates economic needsThe end of Weatherford's operation in Powell, announced in May, came closer to reality this week.More than a dozen semis arrived on Alan Road Monday and Tuesday to haul away equipment once operated by more than 40 people in Powell. Those jobs, as well as many, if not most, of the people who held them, will be lost to the Powell community. The departure of Weatherford, which the company blamed on the economic conditions in the energy industry brought on by the worldwide financial and economic turmoil, is a reminder that Park County, like the state of Wyoming in general, are heavily dependent on one industry: energy production. That industry tends to be volatile, and, as we all know, produces a “boom and bust” economy.The decision by Weatherford, a Swiss-based company, to close the Powell operation probably was made in Houston, the company's U.S. headquarters. That should remind us that, despite our vaunted Wyoming independence, many elements of our economy are in the hands of stockholders and business executives far away from Powell, and we have little or no control over them. Still, Powell's economic development efforts must continue trying to attract such businesses to the community. Fostering the creation or expansion of home-grown businesses is important and should be a big part of the effort to grow the community's economy, but businesses such as Weatherford are a vital element of a healthy economy. Powell's economic development efforts have slowed in recent months, and they need to be revitalized. Doing so will require an ongoing effort by both individuals and the community. It will require funding, and it will require commitment.It won't be easy, but Powell has recovered from events such as this before.We think Powell can do it again.

Weatherford closure illustrates economic needs

The end of Weatherford's operation in Powell, announced in May, came closer to reality this week.

More than a dozen semis arrived on Alan Road Monday and Tuesday to haul away equipment once operated by more than 40 people in Powell. Those jobs, as well as many, if not most, of the people who held them, will be lost to the Powell community.

The departure of Weatherford, which the company blamed on the economic conditions in the energy industry brought on by the worldwide financial and economic turmoil, is a reminder that Park County, like the state of Wyoming in general, are heavily dependent on one industry: energy production. That industry tends to be volatile, and, as we all know, produces a “boom and bust” economy.

The decision by Weatherford, a Swiss-based company, to close the Powell operation probably was made in Houston, the company's U.S. headquarters. That should remind us that, despite our vaunted Wyoming independence, many elements of our economy are in the hands of stockholders and business executives far away from Powell, and we have little or no control over them.

Still, Powell's economic development efforts must continue trying to attract such businesses to the community.

Fostering the creation or expansion of home-grown businesses is important and should be a big part of the effort to grow the community's economy, but businesses such as Weatherford are a vital element of a healthy economy.

Powell's economic development efforts have slowed in recent months, and they need to be revitalized. Doing so will require an ongoing effort by both individuals and the community. It will require funding, and it will require commitment.

It won't be easy, but Powell has recovered from events such as this before.

We think Powell can do it again.