Business Council Proposes Major Changes to the State’s Largest Economic Development Fund

Cheyenne, Wyo. – The Wyoming Business Council (WBC) is proposing major changes to the Business Ready Community (BRC) grant and loan program, which funds public infrastructure in communities to unlock economic growth. Program rule changes are intended to better align with the Council’s mission of reversing economic decline and building strong, self-reliant communities.

Proposed Changes to BRC Rules

• Focus on Economic Growth: All projects must address key barriers to economic growth. This narrows the scope of the program, which previously considered community projects that did not directly work to grow Wyoming’s economy. The WBC is focused on understanding and working with communities to identify and tackle their unique challenges. 
• Match: With a goal of increasing local capacity, new rules more clearly align expectations of a 25% minimum match on all BRC applications. Half of BRC loan amounts will count toward a community’s match.
• Maximum Awards: Eliminate project funding limits, allowing the maximum request for a community to address a barrier to growth, based on the current balance of the BRC account. 
• Other Proposed Changes: Program name change, revisions to requirements for revenue earned on economic development projects, project presentation to the WBC and SLIB boards, loan requirements, and consideration for planning grants.

Other BRC Program Changes

• New Digital Application: A common pain point identified by BRC applicants is an outdated, lengthy application. To address these challenges and simplify the application process, the WBC has developed a digital application that will go live in the coming months. The new application will help applicants create a more compelling narrative and focus on barriers to growth at the community level. All BRC submissions must be completed via the portal beginning with the September 2025 application deadline.
• BRC Process Additions: The WBC is adjusting its drawdown request process to address delays in invoicing and reimbursement submission issues. Previously awarded BRC construction projects will require a reconciliation of subcontracted invoices in the case of a general contractor and subcontractors. Documentation must now include dates of service (both start and end) for all work completed for each reimbursable invoice. Grantees will need estimates from contractors for work completed by the end of the fiscal year. These updates are still in progress, and once finalized, templates can be found in the Forms & Templates section of each BRC program type.

The WBC Board of Directors approved the draft rules at their quarterly meeting in Casper on May 21, 2025. The WBC team recommended repealing and creating new rules, and a 45-day public comment period opened June 4, 2025, following Governor Mark Gordon’s notice to proceed.

“These program changes are aimed at making Wyoming a place where people are proud to start their careers and where ambition is unlimited at any age, so we can have a place where our kids and their careers thrive,” shared Bert Adam, WBC Investments Director. “We want to hear what people interested in this vision think about the proposed rule changes – good, bad, and ugly – so we can serve the state in the best way possible.”

The WBC is seeking public comment on the proposed changes, aiming to get at least 100 comments by Sunday, July 27, 2025. They want to hear from past and potential applicants, as well as people interested in growing Wyoming’s economy.

To learn more, review the proposed rules at rules.wyo.gov. The WBC is also hosting a public webinar on Monday, June 16, at 10 a.m. to share more details on the proposed changes and answer questions. Join the webinar at wbc.pub/25BRC_Webinar. No registration is required.

Share your input via a short survey at wbc.pub/25BRC_Comment.

To learn more about the WBC’s investment strategy, watch the latest What’s the Point? with Josh Dorrell podcast with Bert Adam: wbc.pub/WTP_24.