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Cheyenne, Wyo – The Wyoming Business Council (WBC) Board of Directors recommended four Business Ready Community (BRC) grant and loan funding requests during its regular quarterly meeting in Cheyenne on Feb. 23, 2022.
CEO Josh Dorrell also shared the WBC’s vision for state economic development and a framework for collaboration, capacity building, and how by working together we can make the biggest impact for businesses, communities, and the state as a whole. He explained a variety of tools the agency has developed and will continue exploring as well as education opportunities to make this vision a reality.
“This isn’t going to happen overnight. Some of the things are going to happen very, very rapidly, but this is a model and a framework that we can use to help people understand how we all fit together in economic development,” Dorrell explained.
“It extends beyond just our agency,” he continued. “Economic development is not just one agency in the state, it’s a number of agencies, a number of entities working together in partnership. And our team in 2022 is going to be working on how to get to the top of the triangle and how to make the biggest impact for the state that we can.”
A meeting recording is available on the WBC’s YouTube channel. The board’s next quarterly meeting is scheduled for May 11, 2022, and will be held virtually. More details will be available on our website prior to the meeting.
The City of Lander requested an $889,105 community readiness grant to develop a 3.94-acre site which will house a future assisted living and memory care facility. The proposed location is 1400 Bishop Randall Drive, which is located between Sage West Hospital and the Lander Golf Course. The site is city-owned and requires water, sewer, street upgrades, three-phase power, fiber conduit, and natural gas to be shovel-ready.
The board approved this request (with one no vote) contingent upon a letter of intent for full funding of the actual facility construction from the USDA or other financing institution and, in the event the building and site are leased or sold to a private entity, a Revenue Recapture Agreement to be executed with at least 25% of net proceeds returning to the BRC account.
The City of Newcastle requested a $18,750 planning grant to determine the feasibility of a public gathering space called “Heritage Park.” Heritage Park will host activities such as the local farmers market, community events, and be a home for a Veterans Memorial. The proposed site is located at 1401 Washington Blvd, at the intersection of highways 16 and 85. The community envisions this location as a welcoming stop for travelers and will further attract visitors into the downtown area. The site is currently undeveloped and will be donated to the City by Pinnacle Bank if the planning grant is approved. The site is valued at approximately $250,000.
The board unanimously approved this request.
The City of Rawlins requested a $50,000 planning grant to develop a five-year economic plan for its community. This plan will outline the economic vision, mission, and goals of the community; outline economic strategic and specific actions to be taken; align with the 2021 City of Rawlins Strategic Plan; and help citizens, businesses, and local partners understand and work toward the economic priorities of the community.
The board unanimously approved this request.
The Sheridan Economic & Educational Development Authority (SEEDA) requested a $20,000 planning grant to evaluate three to four potential sites for a continuation of the High-Tech Park concept. The first phase of the Sheridan High-Tech Park has been one of the community’s most successful economic development efforts. The 43.5-acre park currently contains three businesses that employ approximately 300 residents in light manufacturing and R&D occupations. Occupants of the tech park include Kennon, Weatherby and Vacutech.
The board unanimously approved this request.
The Wyoming Business Council administers the 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 reviews and vets each application, conducts in-person or virtual site visits, and presents to a board subcommittee prior to making final recommendations to the full Board of Directors.
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.
SLIB will make final decisions on BRC project requests at its 8 a.m. meeting on April 7.