Wyoming Business Council Supports Sheridan County Projects
Kennon Products Inc. has begun to outgrow their space at their current location.
The Wyoming Business Council Board of Directors approved a Community Development Block Grant (CDBG) application submitted by COMPASS Center for Families and recommended a Business Ready Community (BRC) funding request from the Sheridan Economic and Educational Development Authority (SEEDA) at their meeting in Laramie on Dec. 6.
While the Business Council board’s decisions on CDBG applications are final, their BRC recommendations will now move to the State Loan and Investment Board (SLIB) for final approval Jan. 17. The SLIB is comprised of the five statewide elected officials: the governor, secretary of state, state auditor, state treasurer, and state superintendent of public instruction.
CDBG projects are funded by the U.S. Department of Housing and Urban Development. Projects must benefit low to moderate income clientele, eliminate slum or blight, or mitigate an urgent threat.
The board approved full funding of a $500,000 request for Sheridan COMPASS Center for Families. The grant will fund the remodeling of an existing building to allow the necessary room to safely accommodate the needs of high-risk families in Sheridan County.
According to the Wyoming Business Council, the Business Ready Community grant and loan program provides financing for publicly owned infrastructure that serves the needs of businesses and promotes economic development within Wyoming communities.
The board recommended full funding of a request by the Sheridan Economic and Educational Development Authority for a $2,850,000 BRC grant and a $1,510,761 BRC loan for the construction of a manufacturing facility of up to 40,000 square-feet with offices and a parking lot on approximately four acres in the Sheridan High Tech Gateway subdivision. This project will still need a green light from the SLIB before moving forward.
The facility would allow Kennon Products, Inc. to expand and increase their capacity to deliver new products to clients and take advantage of emerging opportunities.
Because the project isn’t officially approved yet, Kennon representatives declined to comment on those new products and opportunities.
“We would hope to move pretty quickly after receiving a favorable outcome in 2019 and hit the ground running,” said Becky Cooper, Vice President of Engineering.