State Board Approves Cheyenne Money

The State Loan and Investment Board approved a total of $18 million for a pair of Laramie County projects Thursday.

The first project is a $13 million package to help Magpul Industries relocate to Cheyenne, first to a temporary site and later to a build-to-suit facility. Magpul spokesman John  Anderson said the approval essentially clears the way for the firearm accessories company to locate to Wyoming from Erie, Colorado. Anderson says Magpul's current leases in Colorado expire in April. He says he thinks the company will be able to relocate here sometime this summer.

The board also approved $5 million to improve rail access to the Swan Ranch Industrial Park. Mayor Rick Kaysen says the project will enhance the desirability of locating in Swan Ranch to companies for whom rail access is important. The mayor went on to call the board's decision to approve the funding very good news for Cheyenne.

The State Loan and Investment Board is made up of the state's five statewide elected officials.