No it's not.
Outside of Jackson and environs it is frankly a miserable place to live. Imagine a wind-swept steppe petro-state inhabited by a mostly rural, extremely conservative population. Cold in the winter, hot in the summer, and perpetually windy. I could say "windy" 8 more times and it still wouldn't capture the reality. Like many states in this position, mostly rural, most jobs don't require a degree, almost everyone who gets one leaves for better pay, usually to Colorado.
I do believe that this bill is a great idea, but it's not going to magically transform their economy.