Wyoming shows an average deal value of $4.97 million with 56 new jobs created per deal
BUSINESS READY COMMUNITY GRANT & LOAN PROGRAM
The Business Ready Communities program can provide financing for publicly owned infrastructure that promotes economic development within Wyoming communities. Cities, towns, counties and joint powers boards are the primary applicants for the program. The typical maximum award is $1.5 million with a 10% match. Publicly owned infrastructure that facilitates a specific business’s needs.
WORKFORCE DEVELOPMENT TRAINING FUND
Business Training Grants for Existing Positions can provide up to $2,000 per trainee per fiscal year for established Wyoming businesses with existing employees who need a skill upgrade or retraining in their current occupations.
Business Training Grants for New Positions can provide between $1,000 and a maximum of $4,000 per trainee per fiscal year, depending on the employee's full‐time status and wage amount. Grants for New Positions were developed to assist Wyoming businesses in two ways: Wyoming Business Expansion and New Business Recruitment. The Pre‐Hire Economic Development Grant Program is designed to train skilled workers in a particular business, businesses, or industry. Applications are completed through a partnering of four entities that contribute separate needs or services to the program.
INDUSTRIAL DEVELOPMENT REVENUE BONDS
Cities and counties may issue tax‐exempt industrial development revenue bonds to provide financing for manufacturing and energy generation businesses. These bonds are issued within the State’s IRS allocation of tax‐exempt bond financing. The maximum project is $600,000,000 and the business must provide a bank “letter of credit” to guarantee payment of the bonds. Interested businesses must apply for an allocation within the State’s volume cap. The Wyoming Business Council will coordinate this process.
WYOMING PARTNERSHIP CHALLENGE LOAN PROGRAM
The Wyoming Business Council can participate with a local lender on a loan to a business. The State’s portion of the participation maybe up to 35% of the project (maximum $500,000) in a shared note and collateral position with the local lender. Participation can be increased to 50% of the loan or $1,000,000 is the lender has secured a federal guarantee (i.e. SBA, USDA) to guarantee repayment of a loan made to a business.
OTHER WYOMING INCENTIVE PROGRAMS
- Manufacturing Sales Tax Exemption
- Sales Tax Exemption on Electricity Used in Manufacturing
- Managed Data Center Cost Reduction Grant Program
- Data Center Sales Tax Exemption
- WyoRECs Renewable Energy Credit Discount Program