Wyoming Economic Development Financial Programs

As you will see below, the community of Powell has many financial tools that may help your business. Sometimes it is a combination of 2 or 3 programs below that make the most sense. The information and links can feel intimidating, but PEP is here to help you navigate the many tools and understand how they may apply to you!

ProgramTarget AudienceDescription
Organic Certification Reminbursement GrantAgribusinessOffsets the costs of becoming an organically certified process or producer
SBA Guarantee Loan ProgramSmall BusinessLoan guarantee program that reduces the risk for commercial lenders, allowing them to make loans to small businesses without assuming the risk
Business Ready Community Loan and Grant ProgramCities, towns, counties and joint powers boardsThis program provides financing for publicly owned infrastructure that serves the needs of businesses and promotes economic development within Wyoming communities. Seven types of projects are eligible: Business Committed Projects; Managed Data Center Projects; Community Readiness Projects; Downtown Development Projects; Community Enhancement Projects; Child Care/ Senior Care Projects; BRC Planning Projects – Economic Development plans, feasibility studies, promotional plans, tourism plans, regional targeted industry plans.

NOTE: Community development organizations can assist and provide project management development under contract to the primary applicant.
Manufacturing Sales Tax ExemptionManufacturing CompaniesThe sales tax burden is exempt on the sale or lease of machinery to be used in the State of Wyoming directly and predominately in manufacturing tangible personal property.
Sales Tax Exemption on Electricity Used in ManufacturingManufacturing CompaniesThe sales tax burden is exempt on sales of power or fuel to a person engaged in the business of manufacturing, processing, or agriculture when the same is consumed directly in the manufacturing process.
Industrial Development Revenue BondsCommunities for job creation projectsCities and counties may issue Industrial Development Revenue Bonds to provide financing to promote economic growth within the state, and to create jobs for in-state residents. IDR Bonds are land acquisition, building and equipment loans, and are interest exempt from federal income taxes.
Wyoming Partnership Challenge Loan ProgramJob creating businessesThe Wyoming Business Council can participate with a local lender on a loan to a business. The State’s portion of the participation may be up to 35 percent of the project (maximum $500,000) in a shared note and collateral position with the local lender. Participation can be increased to 50 percent of the loan or $1,000,000 if the lender has secured a federal guarantee (i.e. SBA, USDA) to guarantee repayment of a loan made to a business.
Workforce Development Training FundNew and existing businessesWyoming’s Department of Workforce Services offers two types of workforce development grants. EXISTING POSITIONS: Funds 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. NEW POSITIONS: Funds can provide between $1,000 and a maximum of $4,000 per trainee per fiscal year, depending on the employee’s fulltime status and wage amount. Using these grants, businesses in Wyoming can create new jobs or complete necessary skills upgrades among staff to stay competitive in today’s economy; in addition, they can be put to use in pre-employment scenarios as well to prepare workers to fill gaps in high demand/ high growth occupations.
WyoRECs Renewable Energy Credit Discount ProgramNew and existing businessesWyoRECs is a partnership formed in 2013 between the Wyoming Business Council and Powder River Energy Corporation (PRECorp) to offer discounted renewable energy credits (RECs) to companies interested in taking advantage of green energy to power their growing Wyoming operations.
Wyoming Foundations (private/public)VarietyThe Wyoming Community Foundation and the Wyoming State Library have developed online resources guides to available grant programs, both public and private. Those entities seeking grant funding should review these sites periodically to determine opportunities for funding. 
Community Development Block GrantsCities and countiesPublic infrastructure, Access for the Disabled, Community Facilities, Infrastructure, Downtown Development, Planning and Technical Assistance, Homeownership Assistance.

Area of benefit must meet following:
(i) Benefit to low and moderate income families;
(ii) Aid in the prevention or elimination of slums or blight;
(iii) Activities designed to meet community development needs having a particular urgency
Historic Architecture Assistance Fund (HAAF) GrantOwners of historic buildings or building located within Main Street boundariesProvides funding for architectural or engineering services to support rehabilitation projects of historic or Main Street properties.
Wyoming Main Street Loan ParticipationOwners of historic buildings or Main Street propertiesWBC partners with local lenders on a loan for building improvements.
State Historic Preservation OfficeMain Street programs, Owners of historic properties, cities, and countiesSHPO has a number of programs, including tax credits and technical assistance that can assist property owners in rehabilitating their historic properties. They can also assist Main Street communities in preparing guidelines and design standards, placing properties on the National Register of Historic Places and much more.
Small Business Investment Credit ProgramSmall businesses seeking venture capital funding>
Farmers Market Promotional GrantLocal government, nonprofit organization, producer associationA $400 reimbursable grant for promoting and advertising farmers markets
Youth "Grow your own market garden" grantOrganized youth groups or members of such groupsA $500 grant to encourage youth to start a market garden and sell produce at a farmers market
Wyoming Smart Capital FundSmall and growing businessesA collaboration of individual and institutional investors that support new and growing entrepreneurs in Wyoming, this fund was seeded by federal assistance through the Small Business Jobs Act of 2010.