December 6, 2019


Business Council board recommends two grants

The Wyoming Business Council Board of Directors recommended two Business Ready Community (BRC) funding requests during its Dec. 5 meeting in Cheyenne Thursday.

Board meeting materials are available for review here.

The board also discussed the agency's new strategy and honored outgoing board members.
 

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. 

The SLIB will make final decisions on BRC project requests at its 8 a.m. meeting on Jan. 16.

Business Committed

  • The Sheridan Economic and Educational Development Authority requests a $1,094,785 grant and $275,000 loan to allow for completion of Vacutech's expansion project. The manufacturer anticipates adding 51 jobs over the next five years. (Board recommends funding as a $1,369,785 loan.)

Community Readiness

  • The City of Rock Springs requests a $2,917,701 grant to rehabilitate the First Security Bank building to return it to productive use while retaining the city's heritage. (Board recommends funding as requested.)

Business

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