sUMMARY EXECUTIVE
In January 2025, the University of Wyoming retained Collegiate Consulting to conduct a comprehensive economic valuation of the institution’s intercollegiate athletics program.
The deliverables included providing an assessment and valuation for:
• Branding & Visibility – including streaming, social and linear/network broadcasts.
• Personnel, Student-Athletes (SA) and SA Graduates Economic Impact – included is the direct and indirect impact of salaries, spending and volunteerism of Wyoming athletics for the institution, city and state.
• Game-day and Event Valuation for the City of Laramie – including game day for all ticketed Wyoming athletic events, non-athletic events hosted by Wyoming and summer camps.
Branding and visibility include a formula for the value of publicity, commonly defined in public relations as advertising value equivalency (AVE) and used to determine an equivalent of a return on investment (ROI). The formula includes a multiplier of three times the advertising value equivalency, based heavily on the assumption that “editorial is a thirdparty opinion, so the value of publicity is deemed three times that of a paid advertisement”.
The game day and event impact ascertain projected daily expenditures for the direct impact. The indirect economic impact attributable to direct expenditures utilizes the RIMS II economic multiplier supplied by the U.S. Bureau of Economic Analysis.
The 2023 Analysis of the Economic Impact & Return on Investment of Education was utilized to determine the impact of athletics personnel and student-athletes. Key components of the athletics staffing and payroll include determining the impact of their spending to support the local economy. Collegiate Consulting utilized the Report’s “MR-SAM model”, which attaches an expenditure coefficient or multiplier to the total gross salary and wages. The initial round of spending, i.e. salary/wages, creates additional spending, which is called the multiplier effect. The multiplier effect comprises the additional activity that occurs across all industries of the local economy and is further divided into three effects:
• Direct Effect – additional economic spending that occurs by the initial impact of spending money on good, services.
• Indirect Effect – this occurs after the initial spending activity, when those sectors will spend monies received in the direct effect.
• Induced Effect – the economic activity created by the direct and indirect spending leads to higher wages and more jobs.
EXECUTIVE SUMMARY
Collegiate Consulting collected data from FY2022 to FY2024 and was able to provide conservative estimates based on existing data and/or previous years. In the chart below, items in grey represent Collegiate Consulting’s projections. Key findings from the fourmonth project included:
• Advertising value of athletic events via broadcast television, streaming and social media resulted in an exposure, branding and advertising impact of $288.75 million over the past three years.
• Game day and event economic impact of Wyoming athletic events, camps and nonathletic events held in athletic venues resulted in $145.44 million over the past three years.
• Economic impact of athletic staff and student-athletes is $112.33 million over the last three years.
• Direct revenue impact of $72.68 million over the last three years (average of $24.2 per annum).
Thus, over the course of an athletic year (July 1 - June 30), Wyoming athletics provides a total average annual economic impact of $206.4 million and over the three-year analysis a total impact of $619.2 million.
LARAMIe CITY OF LARAMIE
Nestled in southeastern Wyoming at an elevation of 7,220 feet, Laramie is a city steeped in history and surrounded by breathtaking natural beauty.
Founded in 1868 as a stop along the Union Pacific Railroad, Laramie quickly grew into a bustling frontier town with a reputation for its Wild West spirit. Named after Jacques La Ramie, a French-Canadian trapper who explored the region in the early 1800s, the city played a pivotal role in the development of the American West.
Laramie made history in 1870 by appointing the first all-female jury in the United States, a landmark moment for women’s rights. Today, Laramie is perhaps best known as the home of the University of Wyoming (UW), founded in 1886, which has shaped the city’s identity as a center of education, culture and innovation.
Laramie’s economy is deeply tied to the University of Wyoming, the state’s only fouryear university, which serves as the city’s largest employer and a hub for research and cultural activities.
The University’s presence brings a youthful energy to the city, with attractions like the UW Art Museum, the Geological Museum and the American Heritage Center drawing visitors from across the region. Beyond academia, Laramie thrives on its outdoor recreation opportunities. The nearby Medicine Bow National Forest, Snowy Range Mountains and Vedauwoo Recreation Area offer year-round activities, from hiking and rock climbing to skiing and fishing.
The city’s historic downtown, with its well-preserved 19th-century architecture, boutique shops and local restaurants, adds to its charm. Annual events like Jubilee Days, a celebration of Laramie’s Western heritage, and the Laramie Farmers Market further highlight the community’s vibrant spirit.
Despite its small size, Laramie faces both challenges and opportunities. As a college town, it grapples with issues like affordable housing and economic diversification beyond the University. However, its strategic location along Interstate 80 and proximity to Denver make it an attractive destination for businesses and tourists alike.
Laramie’s rich history, combined with its stunning natural surroundings and strong sense of community, makes it a unique and dynamic place to live, work and explore. Whether you’re drawn to its outdoor adventures, cultural offerings or academic opportunities, Laramie embodies the enduring spirit of the American West.
CITY OF LARAMIE
LARAMIe
WYoMInG UNIVERSITY OF
The University of Wyoming (UW), founded in 1886, is the state’s only four-year public university and a cornerstone of higher education in the region.
Established just four years before Wyoming achieved statehood, UW was created under the Morrill Act of 1862, which granted federal land to support the development of institutions focused on agriculture, engineering and the mechanical arts.
The University’s first building, Old Main, was completed in 1887, and the institution quickly grew to become a hub of academic and cultural activity in the sparsely populated state.
Over the decades, UW has expanded its mission to include a broad range of disciplines, from the humanities and social sciences to energy research and environmental studies, reflecting the evolving needs of Wyoming and the nation.
Today, the University of Wyoming currently offers more than 200 areas of study across its seven colleges: Agriculture, Life Sciences and Natural Resources; Arts and Sciences; Business; Education; Engineering and Physical Sciences; Health Sciences; and Law.
UW is particularly renowned for its programs in energy and natural resources, leveraging Wyoming’s status as a leading producer of coal, natural gas and wind energy.
The University is home to the School of Energy Resources, which focuses on cutting-edge research in energy production, sustainability and policy. UW’s College of Engineering and Applied Science is recognized for its innovative research and strong ties to state industry.
The University’s commitment to research is evident in its Carnegie Classification as an R1 institution, denoting high research activity. UW also boasts unique facilities such as the Wyoming Infrared Observatory, the National Center for Atmospheric Research and the American Heritage Center, one of the largest archives in the Rocky Mountain region.
UW’s dedication to student success is reflected in its graduation and retention rates. Recent data shows the University has a six-year graduation rate of approximately 60% and a first-year retention rate of around 77%.
WYOMING
AtHLetICs
The Wyoming Cowboys and Cowgirls have a rich history dating back to the late 19th century. The University, founded in 1886, established its athletics program shortly thereafter.
The nickname “Cowboys” was coined in 1891 when a cowboy assisted the football team during a game against a team from Cheyenne. One of the Cheyenne players allegedly exclaimed, “Hey, look at that cowboy,” and the name stuck.
Football was the first sport to take root, with the Cowboys playing their inaugural varsity season in 1893. Early competitions were often against only local club teams or nearby colleges, but they laid the foundation for a tradition of athletic excellence in the Rocky Mountain region.
In the early 20th century, UW Athletics began to grow in prominence. The program joined the Rocky Mountain Athletic Conference (RMAC) in 1914, where it competed for several decades. During this time, the Cowboys football team gained recognition, and other sports, such as basketball and track and field, began to develop. The University’s mascot, the cowboy, symbolized the rugged spirit of Wyoming and its frontier heritage.
The mid-20th century marked a period of significant growth for UW Athletics. In 1934, the Cowboys football team achieved national recognition under coach Willard “Dutch” Witte, earning a trip to the Sun Bowl. This success helped elevate the program’s profile. In 1951, UW joined the Skyline Conference, further solidifying its commitment to competitive athletics.
The most transformative era came in 1962 when the University of Wyoming became a founding member of the Western Athletic Conference (WAC) and transitioned to NCAA Division I status. This move allowed the Cowboys and Cowgirls to compete at the highest level of collegiate athletics.
The 20th Century was particularly golden for UW basketball. Under coach Everett Shelton and later coach Jim Brandenburg, the Cowboys basketball team made multiple NCAA Tournament appearances, including a National Championship in 1943 and a Sweet 16 appearance in 1987.
Today, the University of Wyoming Athletics program competes in the Mountain West Conference (MW), which it joined as a founding member in 1999.
WYOMING ATHLETICS
The Cowboys and Cowgirls field teams in 17 varsity sports (eight men’s and nine women’s) including: football, basketball, volleyball, soccer, cross country, swimming and diving, track and field, golf, tennis and wrestling. The program is known for its strong emphasis on studentathlete success, both on and off the field.
War Memorial Stadium, home to the Cowboys football team, and ArenaAuditorium (commonly known as “The Dome of Doom”), home to Cowboy and Cowgirl basketball, are iconic venues that showcase the passion of Wyoming fans. The University’s athletics program has a loyal fan base, with the state of Wyoming rallying behind its only Division I program.
In recent years, UW Athletics has continued to build on its legacy. The football team has seen success under coaches like Craig Bohl, with multiple bowl game appearances. The basketball program, led by Wyoming native, Coach Sundance Wicks, is working to return to its former glory. Additionally, under the leadership of Coach Heather Ezell, the Cowgirls basketball team has emerged as a competitive force in the Mountain West Conference.
The University of Wyoming Athletics program is deeply intertwined with the state’s identity. The “Brown and Gold” colors and the cowboy mascot reflect Wyoming’s Western heritage. The program also emphasizes academic achievement, with student-athletes consistently earning high graduation rates and academic honors.
UW Athletics continues to honor its traditions while striving for future success. The program remains a source of pride for the University and the state, embodying the resilience and determination of the Cowboy State. As it looks to the future, the University of Wyoming Athletics program aims to build on its storied history and achieve new heights in collegiate sports.
exposURe MEDIA
This section of the study examines the impact of Wyoming Athletics media viewership between 2021 and 2024 using a LinkedIn Insight Director’s framework for how to measure the value of media exposure. This framework includes a formula for the value of publicity, commonly defined in public relations as advertising value equivalency (AVE) and used to determine an equivalent of a return on investment (ROI). Traditionally, the formula includes a multiplier of three times the advertising value equivalency, based heavily on the assumption that “editorial is a third-party opinion, so the value of publicity is deemed three times that of a paid advertisement”. This multiplier can also be modified to represent the communication channel to gauge the organic reach of each medium more accurately. Therefore, it is understood each of Wyoming’s traditionally televised and streamed events will use a multiplier of three and the institution’s social-media interactions will use a
BRoAdCAsts
The University of Wyoming had five nationally televised football games and five nationally televised men’s basketball games in 2023 and 2024 broadcasted on CBS, Fox, CBS Sports Network, TruTV, ESPN2, ESPNU, FS1 and Marquee Sports Network. Viewership data for these events was provided by Wyoming. To ensure a conservative AVE estimate, the current average cost per 1,000 impressions (CPI) for broadcast networks like ESPN, FOX, ABC and the CW was used ($35). Using this number, Collegiate Consulting estimated the average cost per game by taking the average duration of intercollegiate athletic events (three hours and 22 minutes for football and two hours for basketball) to ensure an accurate number of views was captured per broadcast. Note that games that do not have viewership data are not used in the study.
Wyoming Football’s five nationally televised football games garnered a total viewership of 2.32 million with viewership peaking during the 2023 Wyoming/Texas Tech game where 1.43 million viewers tuned in to CBS to watch. Using the average CPI for broadcast networks ($35) and an AVE multiplier of three, Collegiate Consulting determined Wyoming’s total advertising cost for these televised events at $33.07 million. The institution’s ROI or advertising value equivalency from these events was estimated at $99.2 million.
NATIONAL BROADCASTS ADVERTISING VALUE EQUIVALENCY
Wyoming’s five nationally televised men’s basketball games garnered a total viewership of 369,291 with viewership peaking during the 2024 Wyoming/Utah State game where 180,000 viewers tuned in to FS1 to watch. Using the average CPI for broadcast networks ($35) and an AVE multiplier of three, Collegiate Consulting determined Wyoming’s total advertising cost for these televised events at $3.1 million. The institution’s ROI or advertising value equivalency from these events was estimated at $9.31 million.
AdVeRtIsInG
The University of Wyoming had 246 streamed games on the Mountain West Network across all sports between 2021 and 2024. Viewership data for these events was provided by Wyoming and the Mountain West Conference. To ensure a conservative AVE estimate, the current average cost per 1,000 impressions (CPI) for streaming platforms was used ($20). Note that games that do not have viewership data are not used in the study.
Between 2021 and 2024, Wyoming had 246 games streamed on the Mountain West Network across all sports. Viewership for these games totaled 673,838, generating an advertising cost of $13,477 and an advertising value equivalency of $40,430.
In 2021-22, 86 games generated an AVE of $14,303 from 238,381 viewers tuning in to the MW Network. This is the second-highest number of viewers between 2021 and 2024. 202223 saw the lowest number of viewers at just 79,200, which generated an AVE of $4,752. 2023-24 saw the largest number of viewers at 356,257, generating an advertising value equivalency of $21,375 – the most across the three years.
soCIAL MedIA
The University of Wyoming utilized three social-media platforms in 2025 – X (formerly known as Twitter), Instagram and Facebook. While Wyoming has a socialmedia account for all of its NCAA sports, only four of these teams’ social profiles had in-depth, detailed engagement data readily available. Because of this, only four of these social-media profiles were observed including a collective athletic department profile and three individual team profiles. Engagement data provided by Wyoming was used for each platform calculation. Note that CPI varies to reflect the current average advertising cost of each social-media platform.
In 2025, Wyoming Athletics generated 1.35 million engagements across four Instagram profiles. Football had the largest number of engagements at 709,963 while the general Wyoming Athletics account had the fewest number of engagements at 132,662. In total, these engagements generated an advertising value equivalency of $51,429 with the Wyoming Football Instagram profile accounting for $27,050 of the total AVE.
SOCIAL MEDIA ADVERTISING VALUE EQUIVALENCY
X (FORMERLY KNOWN AS TWITTER)
In total, Wyoming Athletics’ four X accounts generated 183,787 engagements in 2025, equating to an advertising value equivalency of $1,250. Again, Wyoming Football had the largest number of engagements, and the general Wyoming Athletics X page had the lowest number of engagements.
Wyoming Athletics garnered 415,819 engagements across four Facebook accounts in 2025, generating a total advertising cost of $3,169. From this, the estimated advertising value equivalency comes to $15,843 across these accounts. The Wyoming Football Facebook garnered the most engagements at 196,213 and therefore created the highest AVE of $7,476. The general Wyoming Athletics Facebook page had the least amount of engagements at 41,982.
STUDENT-ATHLETE
tUItIon & Fees
IMPACT
Collegiate Consulting conducted an analysis on the impact of student-athlete tuition at the University of Wyoming. This section of the study illustrates how much UW receives from student-athletes, cheerleaders, Athletics graduate assistants (GAs), and Athletics student managers tuition and fees after the disbursement of financial aid. The past three fiscal years have been calculated to indicate the institutional economic impact of Wyoming’s student-athletes.
For FY2024, UW generated $3.8 million in tuition and fees from 417 student-athletes across UW’s 17 sports programs. Of UW’s unduplicated student-athletes 82% receive athletic financial aid. For every $1 in SA financial aid awarded by the institution, UW generates $0.43 in tuition & fees from student-athletes.
In the 2022-23 athletic year, UW received nearly four million in tuition and fees from 435 student-athletes. Identical to the preceding year, 80% or 347 student-athletes received athletic financial aid from the institution. The University generated $0.47 for every $1 in athletic financial aid.
In FY2022, with a total student-athlete headcount of 439, UW generated total attendance and fee revenue of $3.1 million from its student-athletes. Overall, 80 percent or 351 student-athletes received athletic financial aid. The institution received $0.38 in tuition and fees for every $1 awarded in SA financial aid.
In the past three years, the net tuition and fees paid by UW SA’s have been $10.89 million with an average of $0.43 in tuition & fees for $1 spent on SA financial aid.
STUDENT-ATHLETE TUITION & FEES IMPACT
IMpACt ACADEMIC INSTITUTIONAL
FOUR-YEAR STUDENT-ATHLETE GRADUATION RATE
Collegiate Consulting collected the four-year student-athlete graduation rate across three seasons to better understand the impact these athletes have on the institution’s athletic standing. The following data and insights were gathered.
*XC/T&F = Cross Country/Track & Field
From the provided data, it is clear that men’s and women’s student-athletes are comparable across the board. As shown, men’s basketball was the only sport to have a significant difference in graduation rate when compared to other sports, down 13 points from the next-closest sport average. Additionally, in the 2014-15 season, men’s cross-country and track and field achieved the highest graduation rate for men’s teams at 80%. Crosscountry and track and field achieved the highest percentage across years and sports in 2014-15 at 81%.
As mentioned above, UW student-athletes compare fairly across men’s and women’s sports overall. During the three periods measured the overall averages of 59% for men’s sports, 73% for women’s sports and 65% overall show the parity among athletes. With a consistent level of performance in the classroom, the institution can rely on studentathletes to hold an academic standard that is not easily enforceable to the general student population.
STUDENT-ATHLETE
eConoMIC
IMPACT
Collegiate Consulting researched the impact of the University of Wyoming’s studentathletes to ascertain their annual economic impact for the Laramie footprint.
The methodology in Lightcast’s 2023 Analysis of the Economic Impact & Return on Investment of Education report was utilized to determine the impact of the student-athletes.
The methodology is identical to the athletic staffing analysis impact. Annual personal expenses for Wyoming student-athletes are calculated at $3,240, which is cost-ofattendance stipend student-athletes began receiving in FY2016. Those calculations determined an average gross annual personal expenditure of $1.39 million per annum over the past three years.
STUDENT-ATHLETE ECONOMIC IMPACT
It is important to note that housing, meals, books, school supplies and transportation are excluded from the calculations with a sole focus on personal expenditures.
The initial round of personal spending creates additional spending, which is commonly called the multiplier effect. The multiplier effect comprises the additional activity that occurs across all industries of the local economy and is further divided into three effects:
• Direct Effect – these values serve as the inputs that are impacted by the model multipliers to generate indirect and induced effects.
• Indirect Effect – these values represent business-to-business purchases in the supply chain that stem from the initial industry expenditures. For example, purchases from local vendors, contractors acquiring materials and similar activities fall within this category.
• Induced Effect – these values stem from household spending of labor income after taxes. For example, when employees spend a portion of their income on goods and services within the local economy, these purchases are categorized as induced spending.
STUDENT-ATHLETE ECONOMIC IMPACT
The labor and non-labor impact are defined as:
• Labor Income – represents the value of business-to-business purchases through all local industry purchases.
• Non-labor Income – income derived from investments, such as rent,interest and dividends.
Collegiate Consulting utilized the multiplier coefficients developed by Lightcast for both labor and non-labor income. With gross student-athlete personal expenses of $1.35 million in FY2024, the total labor impact from Wyoming’s student-athletes is $1.93 million annually with non-labor income generating approximately $129,704 for a total gross economic impact of $2.06 million.
In FY2023, gross student-athlete personal expenses were $1.41 million. The total labor impact from student-athletes is $2.02 million and non-labor income is $135,302 for a total gross economic impact of $2.15 million. In FY2022, gross student-athlete personal expenses were $1.42 million. The total labor impact from student-athletes is $2.04 million and non-labor income is $136,547 for a total gross economic impact of $2.17 million.
Over the past three years, Wyoming student-athletes have had an economic impact on the Laramie economy of $6.39 million.
VoLUnteeRIsM STUDENT-ATHLETE
ECONOMIC IMPACT
Collegiate Consulting examined the annual economic impact of volunteer hours performed by University of Wyoming student-athletes over the past three years. As undertaken by the Student-Athlete Advisory Committee (SAAC), one of its key roles is to plan and provide community service opportunities for Wyoming’s student-athletes.
The Value of Volunteer Time Report provided by IndependentSector.org was used as the guideline to ascertain volunteerism economic impact. According to a 2025 report, the average value of a volunteer hour in the State of Wyoming was $31.69 in 2024, $30.06 in 2023 and $28.49 in 2022.
Collegiate Consulting projects 10 hours of community service per student-athlete per academic year. According to the Mountain West Conference office, Wyoming has consistently finished in the top three in student-athlete community service and volunteer hours.
www.independentsector.org
Thus, for FY2024, multiplying the hourly rate by the hours the student-athletes volunteered amounts to $132,147 in value to the Laramie community. Next, we convert the $132,147 of direct value for the purposes of economic impact modeling utilizing the MR-SAM model to determine the gross impact, which was $313,189 in 2023-24.
Unlike other components of this analysis, there is not an initial non-labor income impact. This is because volunteers are not paid employees of the businesses or organizations, so there is no direct non-labor income associated with their volunteer hours.
Based on volunteer hour estimates, student-athlete volunteers added $313,189 to the Laramie economy in FY2024; $309,904 in FY2023 and $296,419 in FY2022. For the past three years, the total economic impact of student-athlete volunteerism has been $919,512.
ReVenUe ATHLETIC EXTERNAL
ECONOMIC IMPACT
Over the past three fiscal years, the University of Wyoming Athletic Department has generated $47.60 million in external revenue across sponsorships, media rights and other non-ticket, non-camp sources. These figures represent significant institutional achievements in resource generation, independent of state funding or student fees. This analysis excludes ticket and camp revenues, which are detailed in separate sections of our comprehensive review.
*Gameday non-ticketing revenues include parking, concessions, and in-venue sales of merchandise
To evaluate the broader economic value of this revenue, Collegiate Consulting applied the multiplier methodology developed in Lightcast’s 2023 “Economic Impact & Return on Investment of Education” report. This framework considers three core effects: direct (initial revenue inputs), indirect (supply chain business activity) and induced (household spending driven by wages supported through the initial revenue). These combined effects highlight how athletic department revenue ripples through the local economy.
ATHLETIC EXTERNAL REVENUE ECONOMIC IMPACT
ATHLETIC EXTERNAL REVENUE ECONOMIC IMPACT
Applying Lightcast’s labor and non-labor multiplier coefficients, Wyoming’s $47.60 million in gross external revenue has yielded a total labor-related economic impact of $68.11 million. This represents wages, salaries and contract payments spent and re-spent in the state economy. Additionally, the non-labor impact—comprising investment income like rent, interest and dividends—adds another $4.57 million. The total estimated economic impact across the state over the three-year period reaches nearly $72.68 million.
UNIVERSITY OF WYOMING - ECONOMIC IMPACT 2021-22
This analysis underscores the broader value of Wyoming Athletics as a generator of economic activity beyond the University. As the department continues to expand partnerships, media exposure and external engagement, the downstream benefits to local businesses, vendors and residents are substantial. This data can help inform future strategic planning and investment decisions at both the campus and state level.
WYOMING
GAMedAY
REVENUE
Collegiate Consulting conducted an in-depth analysis of the economic impact generated by athletic events hosted by the University of Wyoming. The study examines data from FY2022, FY2023 and FY2024 for football, men’s basketball, women’s basketball, volleyball and wrestling. Below is an overview of how these events have influenced Wyoming’s economy. According to ChampionTraveler.com, the average daily ‘spend’ for a visitor in Laramie ranges from $52 to $93, excluding flights and lodging. The average cost per night for lodging in Laramie is between $78 and $104.
For this analysis, Collegiate Consulting used the low end of the daily expenditure range, $52, across all sports except football. For football, we applied a higher daily expenditure of $93, reflecting the longer stays typically associated with these games.
To calculate the overall economic impact, Collegiate Consulting applied the RIMS II economic multiplier from the U.S. Bureau of Economic Analysis, which for recreational activities is $1.994. This means that for every $1 spent directly, there is an additional $0.994 in indirect economic impact. The data shows a steady increase in the economic impact of Wyoming Athletics year-over-year, starting from the 2021-22 season. Over the three seasons analyzed, Wyoming Athletics has contributed $104.87 million in total economic impact. From the 2021-22 to 2022-23 season, total impact grew by $3.76 million, largely driven by increased football attendance.
From 2022-23 to 2023-24, Wyoming Athletics saw a significant jump of $9.87 million, with growth across all sports except men’s basketball. Economic Breakdown by Sport:
• Football: $71.37 million (70% of the total three-year impact)
• Men’s Basketball: $19.09 million (18%)
• Women’s Basketball: $10.01 million (10%)
DETAILED IMPACT ANALYSIS:
FOOTBALL: Over the past three seasons, football has generated $10.26 million in ticket revenue with a total attendance of 329,557. Using the $93 per day expenditure, the direct economic impact of these games reached $30.65 million, while the multiplier effect added $30.46 million, resulting in a total impact of $71.37 million over three years.
Visit Laramie provided economic impact analysis for the October 7, 2023 home game against Fresno State and the October 12, 2024 home game against San Diego State. The Fresno State game, attended by 23,263 fans, generated $140,866 in single game ticket revenue. Visit Laramie projected a $4.65 million economic impact, while Collegiate Consulting projected a slightly lower impact of $4.46 million, a 3% difference. For the San Diego State game, Visit Laramie projected a $4.54 million impact, while Collegiate Consulting estimated $4.4 million. (Collegiate Consulting utilized the ticket allocation NOT the announced attendances).
DETAILED IMPACT ANALYSIS:
MEN’S BASKETBALL: Over the past three years, men’s basketball has generated $2.14 million in ticket revenue and attracted 163,437 fans, with a total economic impact of $19.09 million. For the January 20, 2024, home game against Nevada, Visit Laramie projected an economic impact of $470,367 from 4,021 attendees and $14,448 in single game ticket sales. Collegiate Consulting projected a slightly lower impact of $436,377, a 6% difference. (Collegiate Consulting utilized the ticket allocation NOT the announced attendances).
WYOMING GAMEDAY REVENUE
DETAILED IMPACT ANALYSIS:
WOMEN’S BASKETBALL: With $573,714 in ticket sales and a total attendance of 91,027 over the past three seasons, women’s basketball has contributed $10.01 million in economic impact. For the January 20, 2024, home game against Colorado State, the game attracted 2,637 fans, generating $11,978 in single game ticket revenue. Visit Laramie projected a $292,729 economic impact, while Collegiate Consulting projected $285,043, a 2% difference. (Collegiate Consulting utilized the ticket allocation NOT the announced attendances).
DETAILED IMPACT ANALYSIS:
VOLLEYBALL: Over the past three seasons, volleyball has contributed $3.42 million to the local economy, with $105,686 in ticket sales and 31,955 fans attending.
DETAILED IMPACT ANALYSIS:
WRESTLING: Wrestling has generated $975,866 in economic impact over three years, with $50,451 in ticket sales and 8,925 fans attending.
WOMEN’S BASKETBALL IMPACT VOLLEYBALL IMPACT
ReVenUes SPORT CAMP
Collegiate Consulting examined the economic impact of the sports camps hosted by the University of Wyoming athletic programs. Collegiate Consulting collected information with regard to sports camps and the number of attendees. The sports camp revenue covers the past season (FY2024) for the University of Wyoming’s sports camps, as the institution has just recently begun aggregating all of its camp attendee information. The data for this section is derived from internal sports camp data provided by Wyoming.
FY2024
The first revenue number is the direct revenue collected for camp fees. The costs of camps was pulled from research completed by Collegiate Consulting regarding annual camp fees. As noted earlier, average daily expenditure for Laramie visitors ranges from $52 to $93 per day, according to ChampionTraveler.com. Collegiate Consulting took the average daily expenditure ($72.50) to determine daily expenditures while attending sports camp at the University of Wyoming. Direct camp revenues are $425,780, with direct camper expenditures projected at $333,718 for a total direct impact of $759,498.
The indirect impact, also known as a “ripple effect,” could include or project items that support the camps, such as coaches/support staff, housing, catering, etc. that help directly support those summer camps.
For the indirect economic impact attributable to direct expenditures, we use the RIMS II economic multiplier supplied by the U.S. Bureau of Economic Analysis. Specifically, the multiplier prescribed for “recreational activities” is $1.994, implying that for every $1 spent directly, there is an additional $0.994 in indirect economic impact.
Thus, using the camp fee revenue and per-day expenditure multiplied by $0.994, the indirect impact for the University of Wyoming and the City of Laramie in 2024 was $754,941. Overall, athletic summer camps have an annual direct and indirect impact on campus and within the community of $1.51 million.
SPORT CAMP REVENUE
ATHLETIC FACILITIES
speCIAL eVents
The University of Wyoming hosted eight non-athletic events in FY2024, drawing 19,700 total attendees across 43 event days. The audience skewed heavily non-local, with 19,140 attendees from outside Laramie and 560 local attendees, a 97.2% non-local share. Events ranged from graduations and youth tournaments to camps and a month-long drum corps residency.
2024 WYOMING NON-ATHLETIC EVENTS
Direct spending from these events totaled $6.048 million, based on the per day expenditures. Daily spend for non-Laramie visitors totaled $186 and $72.50 for Laramie residents.
The largest direct contributors were the two graduations with Spring Graduation being the largest driver ($1,837,200), Blue Devils Drum Corps ($1,395,000 across 30 days), and the Wyoming State High School Football Championships ($883,500). Other events included Turf Wars ($530,100), FCA Sports Camps ($353,400), the Laramie Youth Football Showdown ($50,640), and the Olympic Development Soccer Clinic ($26,598).
ATHLETIC FACILITIES SPECIAL EVENTS
2024 WYOMING NON-ATHLETIC EVENTS
2023-24
2023-24
$12,059,941
Applying the multiplier value shown in the chart produces $6,011,826 in indirect and induced effects. The combined grand total economic impact for FY2024 is $12,059,941. The scale is driven by the high share of non-local attendees and by multi-day events that extend total spend, most notably the 30-day drum corps engagement.
Recommended takeaways:
• Prioritize large-draw events. Spring and Winter Graduations together generated about $2.78M in direct spending.
• Pursue multi-day bookings. The Blue Devils Drum Corps delivered $1.395M in direct spend over 30 days.
• Keep targeting non-local audiences. A 97.2% non-Laramie mix correlates with higher per-day spending at the $186 rate.
• Retain youth tournaments and camps. Turf Wars and FCA Camps produced a combined $883.5K in direct spend over 7 days.
• Maintain a balanced calendar. Short, high-attendance events plus longer residencies help sustain total impact over 43 event days.
WYOMING ATHLETIC
stAFF
ECONOMIC IMPACT
Collegiate Consulting researched the impact of the University of Wyoming’s total intercollegiate athletics staff (administrators & coaches) to ascertain their economic impact on the Laramie footprint.
The methodology from Lightcast’s 2023 Analysis of the Economic Impact & Return on Investment of Education report was utilized to determine the impact of Wyoming’s athletic staff.
Key components of the athletics staffing and payroll are determining the impact within Laramie of these individuals’ spending monies for groceries, apparel, household expenditures, et al, which support the local economy. Collegiate Consulting utilized Lightcast’s “MR-SAM model”, which attaches an expenditure coefficient or multiplier to the total gross salary and wages.
The initial round of spending, i.e., salary/wages, creates additional spending, which is commonly called the multiplier effect. The multiplier effect comprises the additional activity that occurs across all industries of the local economy and is further divided into three effects:
• Direct Effect – additional economic spending that occurs by the initial impact of spending money on good, services.
• Indirect Effect – this occurs after the initial spending activity and those sectors will spend monies received in the direct effect.
• Induced Effect – the economic activity created by the direct and indirect spending leads to higher raises and more jobs.
The labor and non-labor impact are defined as:
• Labor Income – represents the value of business-to-business purchases through all local industry purchases.
• Non-Labor Income – income derived from investments, such as rent, interest and dividends.
Collegiate Consulting utilized the multiplier coefficients developed by Lightcast for both labor and non-labor income from its 2023 institutional impact study. Wyoming athletics salary and benefits information was extracted from its FY2022, 2023 and 2024 FRS Reports.
Over the past three fiscal years, Wyoming athletics spent $61.64 million on salary, wages and benefits. The total labor impact from Wyoming athletic employees is $88.21 million annually with non-labor income generating approximately $5.92 million for a total gross economic impact of $94.12 million in the past three years.