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• Population (2008): 532,668
• Largest Cities (2008): Cheyenne, 56,915; Casper, 54,047; Laramie, 27,664; Gillette, 26,871;
Rock Springs, 20,200
• Targeted Industries: Energy, Construction, Hospitality & Service, Oil & Gas, Technology & Health Care
• Key Incentives:
Bridge Loan, Business Ready Community Grant Program, Wyoming Partnership Challenge Loan
• GDP (All Industry 2008):
$35.3 billion*
*Bureau of Economic Analysis, U.S. Department of Commerce
The Business and Industry Loan Guarantee Program guarantees loans by eligible local lenders to businesses that are located in rural areas. The program's primary purpose is to create and maintain employment and improve the economic and environmental climate in rural communities. This is achieved by expanding the existing private credit structure capability to make and service quality loans providing lasting community benefits. Administered by the Rural Business-Cooperative Service of USDA's Rural Development, the program typically guarantees losses on up to 80% of the original loan amount. Inability to obtain other credit is not a requirement.
The Challenge Loan Program permits the state to match funds with a local economic development organization for the benefit of a business. The maximum loan funds available from the state are $250,000; the loan must be secured, and the maximum term is 10 years.
Rural Business Enterprise Grants (RBEG) are grants used to finance and facilitate development of small and emerging private business enterprises located in rural areas of cities, up to 50,000 in population. Priority goes to applications for projects in open country, rural communities, and towns of 25,000 and smaller, and economically distressed communities. Rural Business Enterprise Grants include grants made to third-party lenders to establish revolving loan programs or provide technical assistance. At the state and local levels, the programs are administered by the Rural Development Area Offices.
Business Ready Community Grant and Loan Program: The Business Ready Community (BRC) Grant and Loan Program will provide $33.4 million in grants and loans over two years to stimulate economic development at the local level. Cities, towns, counties, and joint powers boards are eligible applicants. State and local community development organizations can assist and provide project development under contract to the primary applicant.
BRC grants and loans can be used for public infrastructure projects in which a business is committed to locate or expand in the community. Grants and loans may also be made for projects in which a community wants to build facilities or install infrastructure to prepare for new business development under a specific strategy or plan of action. Eligible infrastructure activities that may be funded include water, sewer, streets, telecommunications, airports, rights-of-way, land, and spec buildings. Funds can be used for amenities within a business or industrial park, landscaping, and recreational facilities.
Explore detailed community demographic information at ZoomProspector.com
2009 Business Facilities Rankings Report
