Funding Recommended for New Bright Agrotech Headquarters in Laramie
Laramie-based Bright Agrotech is one step closer to having a new headquarters in the Laramie River Business Park.
At its Thursday meeting in Rock Springs, the Wyoming Business Council Board of Directors recommended full funding of a $2,685,750 Business Ready Community grant and a $209,250 loan to construct a 12,250 square-foot building to house the hydroponics manufacturer.
The new headquarters would be built on a 3.85-acre lot in the Laramie River Business Park, provided by the Laramie Chamber Business Alliance.
According to the Wyoming Business Council, the project is expected to create 40 jobs in the next three years, and the Laramie Chamber Business Alliance expects to recoup $695,000 in lease payments to be used for future economic development opportunities.
The State Loan and Investment Board will make the final decision at its June 15 meeting, set for 8 a.m. in Room 1699 of the Herschler Building in Cheyenne.
The board on Thursday also recommended that Alpine, Greybull, the Jackson Hole Airport Board, Cowley and Buffalo all receive funding, for a total of $7.6 million.
Alpine was recommended full funding for nearly $1.8 million to buy 35 acres from the Wyoming Game and Fish Department as well as extend and upgrade an existing road and water main.
Buffalo is asking for $193,132 to design and build a 40-foot dam spillway area for flood mitigation, in the hopes of avoiding severe flooding such as that seen in June 2015.
Cowley seeks $425,600 to expand their community center by renovating and adding a new kitchen to the Rasmussen building, which will be used for 4-H meetings as well as classes from the University of Wyoming and Northwest College. The board on Thursday recommended funding only $12,657 of Cowley's request.
The board recommended funding $900,000 of Greybull's $1,260,000 request for road and sewer improvements to its 28.3-acre business park. Interest in the area is high, and the project would add an estimated seven to 10 jobs to the community.
The Jackson Hole Airport Board is asking for a $1,500,000 grand and a $1,000,000 loan to build a pipeline that would take wastewater from the airport to Jackson's wastewater treatment facility. The WBC board recommended fully funding the grand and funding half of the loan request.