State Loan and Investment Board Approves Laramie Grants
The State Loan and Investment Board approved two Laramie Business Ready Community grant requests in its Jan. 19 meeting in Cheyenne.
Laramie received approval for two $3 million grants, one for the construction of a 20,00 square-foot building for HiViz Shooting Systems, the other for redevelopments to the Empress Lot in downtown Laramie.
SLIB approved full funding as requested for the new HiViz building. The Laramie-based firearms accessories manufacturer anticipated creating 20 jobs in the first three years of operation, but went on to create 51 positions. The expansion is expected to allow the company to sustain annual sales growth of 32 percent for the next five years, according to a Wyoming Business Council news release.
Laramie’s request for the loan to redevelop the Empress lot will be used to construct a two-story, mixed use-building, which will accommodate retail space on the ground floor and space available for tenant use on the second floor.
The ground floor space has been pre-leased to Big Hollow Food Co-op, whose expansion is expected to create 12 jobs and capital investment of at least $600,000 during the next five years.