CHEYENNE – The State Loan and Investment Board will make final decisions on $8.8 million in Business Ready Community grant and loan requests at its 8 a.m. meeting June 16 in Room 1699 of the Herschler Building in Cheyenne.

The Wyoming Business Council Board of Directors recommended full or partial funding of five project requests during its May 26 meeting in Rock Springs. The Business Council, the state’s economic development agency, administers the BRC program.

BRC projects provide financing for publicly-owned infrastructure that serves the needs of businesses and promotes economic development and diversity within Wyoming communities.

Board meeting materials are available for review at http://bit.ly/1ZsJK7L.

Recommendations under consideration are:

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 SLIB for 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.

Business Committed

• Laramie requests a $2,685,750 grant and $209,250 loan to construct a 12,150 square-foot building to house vertical hydroponics manufacturer Bright Agrotech. The Laramie Chamber Business Alliance will provide a 3.85-acre lot in the Laramie River Business Park. The company is a Wyoming Technology Business Center incubator graduate. The project is expected to create 40 jobs in the next three years. The Laramie Chamber Business Alliance expects to recoup $695,000 in lease payments to be used toward future economic development opportunities. (Board recommends full funding.)

Community Readiness applications

• Alpine requests a $1,538,944 grant and $226,683 loan to purchase 35 acres from the Wyoming Game and Fish Department, in addition to extending and upgrading an existing road and an 8-inch water main. The project will improve fire suppression, system reliability and recreational lake access. The property has garnered commercial interest, including from an in-state brewery and Melvin Brewing, which has indicated interest in expansion. (Board recommends full funding.)
• Greybull requests a $1,260,000 grant for road and sewer improvements to its 28.3-acre business park. Interest in the area is high. By early June, 11 of 15 available lots will be sold to five businesses expanding in the Bighorn Basin. Those expansions will add seven to 10 jobs in the community. This is the last remaining commercial open space within Greybull. (Board recommends funding $900,000.)
• Jackson Hole Airport Board requests a $1,500,000 grant and $1,000,000 loan to construct a pipeline and related improvements to convey wastewater from the airport to the town of Jackson’s wastewater treatment facility. The project will allow the airport to continue operations and increase passenger traffic without hurting the environment. It will also reduce operating costs and long-term replacement costs compared with an onsite treatment plant. (Board recommends funding the $1,500,000 grant and a $500,000 loan.)

Community Enhancement

• Cowley requests a $425,600 grant to expand the Cowley Community Center. The money will be used to renovate the Rasmussen building adjacent to the historic Cowley log gym. The addition of a commercial kitchen in the Rasmussen building will expand the type of events that can be hosted in both buildings. The Rasmussen building will be used for 4-H meetings, classes from the University of Wyoming and Northwest College, training space for local business needs and after-school or summer recreation classes. (Board recommends funding $12,657. This was the amount of funds remaining. The board wished to award the amount to Cowley as a demonstration of their support for the project.)