Business Council Approves Grant Revision for Magpul Industries
The Wyoming Business Counsil Board of Directors Thursday approved a revised grant for Magpul Industries.
In February Magpul, through Laramie County, received a $13 million dollar large infrastructure grant and loan combination from the Business Council as part of a recruitment package. However the company asked Laramie County officials to revise the grant down to $8.3 million to instead purchase the 135,000-square-foot former manufacturing facility of Jeld-Wen, a door and window manufacturer that pulled out in 2011.
The building will be purchased by Laramie County and leased to Cheyenne Leads, which will sublease the 185,000-square-foot facility to both Magpul and Sierra Trading Post. The grant revision must still be approved by the State Loan and Investment Board.
Magpul had been based in Colorado, but the company decided to move parts of the business to Wyoming and Texas after new state gun laws were enacted in 2013. The company moved its corporate headquarters to Texas and its manufacturing, distribution and shipping operations to Cheyenne.