Market Expansion Grant
What is the Market Expansion Grant?
The Wyoming Business Council Market Expansion Grant (MEG) helps defray costs for private, Wyoming-based for-profit businesses that participate in market expansion activities.
The primary focus of this grant is to help businesses overcome challenges associated with expanding into new markets outside Wyoming and to pursue opportunities they would not otherwise be able to.
Companies must be physically located in Wyoming, with more than 50% of employees located in the state (no registered agents), with an annual revenue of less than $5,000,000. See below for the MEG application and guidelines, as well as some frequently asked questions (FAQs).
Contact Kade McMillan with any additional questions.
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Frequently Asked Questions (FAQs)
How do I know if my company is eligible for the Market Expansion Grant (MEG)?
To be eligible for the Market Expansion Grant (MEG), your company must meet all primary eligibility requirements outlined in our guidelines. Please note: Merely holding a Wyoming corporate filing using a registered agent or virtual address does not qualify a business for this grant.
Core Eligibility Criteria
Your business must meet all of the following requirements:
- Physical Presence: You must be a for-profit entity (LLC, Corporation, Partnership, etc.) registered and in good standing with the Wyoming Secretary of State, with a physical business presence located in Wyoming. (Companies physically operating in another state using a Wyoming registered agent or mailbox address are explicitly ineligible.)
- Wyoming Nexus & Workforce: More than 50% of your employees must be located physically in Wyoming.
- Intent to Remain: You must provide a good-faith declaration of intent to remain in Wyoming.
- Market Expansion: You must be actively pursuing expansion into markets outside Wyoming.
- Sales & Fulfillment Capability: You must demonstrate the potential to generate measurable sales and successfully fulfill orders resulting from your expansion activities.
- Appropriate Venue & Reporting: The activity or trade event must be an appropriate venue for your industry, and you must agree to complete required post-activity reporting.
Ineligible Business Types & Activities
To maintain alignment with state and federal guidelines, the following business types and entities are strictly ineligible for MEG funding:
- Non-Physical / Foreign-Based Entities: Companies physically based out-of-state using a Wyoming registered agent, companies based foreignly, or entities with more than 49% foreign ownership.
- Consulting agencies
- Distributors representing clients
- Companies, organizations, or individuals recruiting foreign direct investment
- Multi-level marketing (MLM), direct sales, or network marketing companies
- Law firms and legal service providers
- Real estate developers
- Retail businesses
- Educational institutions or for-profit schools recruiting foreign students
- Non-profit organizations (unless a primary portion of activities directly assists entrepreneurs)
- Companies foreign-based or more than 49% foreign-owned Businesses engaged in activities illegal under Federal or State law, including marijuana operations
This application requires a marketing plan. What is a marketing plan and how do I create one?
A marketing plan is a document created to outline a company’s advertising strategy to generate leads and reach its target market. There are many online resources available, as well as one-on-one consulting through the Wyoming Small Business Development Center Network and the Wyoming Women’s Business Center.
This application requires a marketing plan. What is a marketing plan and how do I create one?
A marketing plan is a document created to outline a company’s advertising strategy to generate leads and reach its target market. There are many online resources available, as well as one-on-one consulting through the Wyoming Small Business Development Center Network and the Wyoming Women’s Business Center.
Can I use these funds to attend a local trade show?
The purpose of this grant is to help companies expand into new markets outside Wyoming, so local market expansion activities do not qualify.
Does this grant cover my lodging and meals?
The WBC will cost share up to $100 per night for up to ten (10) room nights (number of rooms multiplied by the number of nights) during the dates of the market expansion activity. The remaining cost of the room(s) is the responsibility of the grantee. Meals, snacks, and beverages are not covered by this grant. Please see the list of suggested and ineligible expenses on pages 3 and 4 of the Grant Guidelines.
How do I estimate my expenditures?
The best way to estimate your expenditures is to research the pricing of the event or service before submitting your application. We understand that estimates may not always be accurate and can be flexible if needed. Try to be as comprehensive as you can in your line items and we understand dollar amounts may vary. Stay in touch with the WBC team if this becomes a concern.
Can I apply for this grant after I participated in a market expansion activity?
No. Applications must be submitted no later than 30 days before the market expansion activity.