Laramie Economic Development Corporation Attains Full Funding
The following is an article from the Laramie Economic Development Corporation's January news letter.
On January 20th, THE LEDC, LLC received the State Lands and Investment Board's unanimous approval for an $805,050 Wyoming Business Council (WBC) Business Readiness Community Grant. This grant represents partial funding for creation of a South Laramie Trans-Modal site. THE LEDC, LLC will use the WBC grant for new rail spur infrastructure, which includes ties, road base, as well as design and construction costs.
The next day, January 21st, WYDOT (Wyoming Department of Transportation) approved a WYDOT and Albany County Industrial Road Program Grant in the amount of $500,000 for use in conjunction with the South Laramie Trans-Modal project. This Grant will provide upgrades to existing infrastructure, such as required improvements to Tie Plant Road, upgrades to existing rail 107, and the construction of a road-grade rail crossing.
Further, pending finalization of THE LEDC, LLC's lease agreement with Union Pacific, the City of Laramie and Albany County each stand ready to loan THE LEDC, LLC $100,000 from their respective economic development recapture funds. The City's loan is intended to cover lease-related expenses, and the County's loan will be utilized to complete the construction of the rail spur.
Together, the WBC and WYDOT grants and the City and County loans enable THE LEDC, LLC to fully fund the South Laramie Trans-Modal site project. Gaye Stockman, Operations Manager for THE LEDC, LLC, stated that construction RFP's (Requests for Proposals) should be issued by the beginning of February. The trans-modal site could be fully constructed and operating within 60-90 days from contractor selection.
Stockman added, "The Trans-Modal site opens new, efficient rail shipping and receiving options for our local Laramie area businesses. Rail freight access is a key consideration for many businesses interested in relocating or expanding their operations into the Laramie area. LEDC has received approximately 20 inquiries from companies interested in relocating, but required rail transport availability in recent years. So, our new trans-modal site should give Laramie another competitive advantage when recruiting new businesses, as well."
Janine Jordan, Laramie City Manager, remarked "The South Laramie Trans-Modal project is another great example of what we can do, when organizations like LEDC work with the City, County, and State, in a coordinated manner, to benefit our community."
Tim Sullivan, Albany County Commissioner, stated, "This is a certainly a forward-looking endeavor that supports the economic health of the entire County. The trans-modal project leverages our resources in a way that can only strengthen our business-friendly climate."