Elected Officials Approve Four BRC Projects

The Wyoming State Loan and Investment Board (SLIB) approved Business Ready Community (BRC) Grant and Loan Program applications from the City of Cheyenne, City of Lander, and two from the Town of Shoshoni on Thursday, Feb. 3, 2022.

The SLIB considered the projects after the Business Council board recommended funding for all four BRC applications at its Dec. 9, 2021, meeting.

“These projects are good examples of community leadership taking the initiative to put skin in the game and lay the foundation locally for economic growth,” said Business Council CEO Josh Dorrell. “Every community has a different starting point. Cheyenne is realizing the benefit of developing infrastructure, while Shoshoni is setting itself up for future success.”

The SLIB unanimously approved the following projects:

Managed Data Center Cost Reduction
The City of Cheyenne requested a $2.25 million BRC Managed Data Center Cost Reduction grant to assist Microsoft in expanding their Cheyenne presence with a new data center that will store and process data, create a platform for economic growth, spur job creation, and help develop the technical ecosystem that exists in Laramie County. The company projects $50 million in new taxable capital investment and almost $4.5 million in proposed new employee wages in the first five years. They have already purchased a 260-acre parcel of land in the Bison Business Park and anticipate construction to be complete and operations to commence by the end of 2022 or early 2023.

Community Readiness
The Town of Shoshoni requested a $1,583,419 Community Readiness grant to extend sewer infrastructure from Maple Street westward toward the Wyoming Mushrooms farm. This infrastructure will develop an eight-inch sewer main and allow for the readiness of 273 acres of land. The land and increased sewer capacity will be utilized to expand town-owned commercial and residential property as well as assist the Wyoming Mushrooms farm’s expansion plans.

Planning
The Town of Shoshoni also requested a $25,000 BRC Planning grant to select a consulting firm to investigate the feasibility of a full-service hotel in Shoshoni. This need was identified in Shoshoni’s 2021 Town Master Plan.

Business Committed – Request for Additional Loan Funds
The City of Lander requested an increase in previous loan funds for the Maven Manufacturing Headquarters. They are asking for an additional $294,608 for a total loan request of $3,000,000. The WBC Board of Directors originally recommended a BRC Business Committed Grant and Loan to the city in March 2021 in the amount of a $3,000,000 grant and $2,705,392 loan. SLIB approved that recommendation at their April 8, 2021, meeting. This request is due to significant increases in material costs due to the COVID-19 pandemic and resulting supply chain and labor issues.

ABOUT THE BUSINESS READY COMMUNITY (BRC) GRANT AND LOAN PROGRAM  

The Wyoming Business Council administers the Business Ready Community (BRC) 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 WBC team  thoroughly review and vet each application, conduct in-person or virtual site visits, and present to a board subcommittee prior to making final recommendations to the full board.

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.