The Wyoming State Loan and Investment Board approves two projects

The State Loan and Investment Board (SLIB) approved two Business Ready Community grant requests during its June 21 quarterly meeting in Cheyenne. Both projects were approved unanimously.

Board meeting materials are available for review at http://wyomingbusiness.org/slib.

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 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.

Community Readiness

Cheyenne requested a $3 million grant and $1,337,455 loan for the extension of 12,000 linear-feet of water main, 11,400 linear-feet of sewer main and minor road improvements to assist the development of a mixed-use residential and commercial site. Total estimated private investment for the first two phases of the project is $95.6 million. The project is expected to help capture additional dollars from outside the community, support the growth and stability of F.E. Warren Air Force Base, address housing issues faced by service members on base and diversify commercial activity thanks to the development’s proximity to Interstate 25. (The SLIB board approved full funding as requested contingent upon completion of the annexation, an environmental review and an executed lease between F.E. Warren Air Force Base and Balfour Beatty.)

Planning

Riverton requested a $50,000 grant to develop a strategic plan for economic development. The plan will update Riverton’s 2009 Master Plan and 2006 Economic Development Plan, and will address the community’s infrastructure, develop its workforce and improve the city’s quality of life. (The SLIB board approved full funding as requested.)

For more information about these projects, visit the Wyoming Business Council website, http://www.wyomingbusiness.org, or call 1-800-262-3425.

About the Wyoming Business Council: Our mission is to increase Wyoming’s prosperity. We envision a Wyoming where industries are strong, diverse and expanding. Small business is a big deal. Communities have the highest quality of life. Wyoming is the technology center of the High Plains. Wyoming knows no boundaries. Please go to http://www.wyomingbusiness.org for more information.