By Baylie Evans, Writer

March 8, 2019


Business Council board recommends three BRC projects and approves two challenge loans

For release March 8, 2019

 

The Wyoming Business Council Board of Directors recommended three Business Ready Community (BRC) funding requests and approved two challenge loans during is March 7 meeting in Casper.

The board's BRC recommendations will now move to the State Loan and Investment Board (SLIB) for final approval at its 8 a.m. meeting on April 4. The board's approval of the challenge loans is final.

Board meeting materials are available for review at http://wyomingbusiness.org/boardbook

 

BUSINESS READY COMMUNITY (BRC) GRANT APPLICATIONS

Business Council staff review each application, conduct site visits, or conference calls in the case of planning grants, and make presentations to a board subcommittee before making final recommendations to the full board. 

About the Program: The Wyoming Business Council administers the Business Ready Community grant and loan program, which provides financing for publicly owned infrastructure that serves the needs of businesses and promotes economic development within Wyoming communities. 

The Business Council board is required by statute to forward BRC grant and loan recommendations to the State Loan and Investment Board (SLIB) for final approval. The SLIB is comprised of the five statewide elected officials: the governor, secretary of state, state auditor, state treasurer and state superintendent of public instruction. 

 

Business Committed 

  • Sublette County requests $1,032,500 to purchase the building and 2.15 acres of land that currently houses Enviremedial Services, Inc. (ESI). ESI leases the building as its manufacturing facility, but needs to expand to keep pace with government contracts it was recently awarded. Sublette County will own the building, and ESI will pay lease payments to the county for 20 years. ESI will pay for the building's 2,400 square-foot expansion. (Board recommends full funding.)

  • City of Casper requests $1,520,693 to complete the reconstruction of a three-block area of Midwest Avenue between Elm and Walnut Streets in the Old Yellowstone District. Funds will be used for the replacement of water and sanitary sewer mains, up-sizing of storm sewer mains, roadway, sidewalks, curb and gutter. Funds will also be used for the development of bike lanes, lighting, fiber and underground electrical. (Board recommends full funding.)

  • Casper-Natrona County Economic Development Joint Powers Board requests $50,000 to create a financial strategy to maximize the city of Casper, town of Mills and Natrona County's Opportunity Zone designations. The plan will identify development and diversification projects, use brownfield designated areas for redevelopment and identify and secure local and national financial resources for the development of the community. (Board does not recommend funding.)
  • Sweetwater County requests $50,000 to conduct a Targeted Industry Study for the Industrial Development Project, the region's largest and most ambitious locally driven venture to generate new conditions for economic development growth and improve quality of life and community stability. The undertaking consists of developing an expansive site of up to 15,000 acres in the Southwest Regional Airport and Middle Baxter Road. (Board recommends full funding.)

Challenge Loans

  • BM&D Land & Cattle Co. was approved for a $2 million loan to purchase and improve an existing building in the Swan Ranch Industrial Park, build an adjacent office building, purchase equipment and establish working capital. 

  • HMH Distributors/Redpointe was approved for a $175,000 loan. It is an outdoor recreation gear company whose focus is the manufacturing and resoling of rock-climbing shoes. It is currently headquartered in Longmont, Colo., and is looking to move the company’s operations to Lander.

For more information about these projects, visit the Wyoming Business Council website, www.wyomingbusiness.org, or call 1-800-262-3425.

Business

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