Business Council Board recommends one BRC Application

 

The Wyoming Business Council Board of Directors recommended one Business Ready Community (BRC) funding request during its regular quarterly meeting on May 12 in Cheyenne. 

 

The board also received an update on WBC strategy and steps being taken to receive public input on Wyoming’s use of American Rescue Plan (ARP) funds. In addition, board members adopted amended administrative rules for the BRC and Economic Development Large Loan programs and approved financial audit and Wyoming Business Resource Network contracts. 

 

“We’re asking a lot of questions about what economic development should look like in the future,” said Business Council CEO Josh Dorrell. “Economic development is a long game. As leaders in the economic development community, we have an obligation to put in the effort in the short run to have an impact in the long run.”  

 

The board’s next quarterly meeting is scheduled for Sept. 16 and will be held virtually. 

 

Projects  considered at the May 12 board meeting:     

  

Community Readiness 

• The City of Mills requests a $1.9 million grant to develop a five-acre lot of riverfront property for development. The project will be used to connect water and sewer service, install fiber optic cable, riverbank stabilization, and dirt fill.   (Board recommends funding as requested.)   
• Laramie County requests a $500,000 grant to establish a maker-to-market fabrication lab and collaboration space on the Laramie County Community College (LCCC) campus. This project will provide for the development of prototypes for market testing and capital investment acquisition.  (Board does not recommend funding.) 

 

BUSINESS READY COMMUNITY (BRC) GRANT APPLICATIONS   

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. Council staff 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.  

   

The SLIB will make final decisions on BRC project requests at its 8 a.m. meeting on June 3.

 

Want to keep up with the Wyoming Business Council? Sign up for our newsletter here.

Community , Business