Golden Shovel President John Marshall Successfully Presents Upton, WY Rail Park Project
Thursday, December 14, 2017
The Wyoming Business Council Board of Directors considered five Business Ready Community (BRC) grant and loan staff recommendations during its Dec. 7 meeting in Cheyenne.
Among the projects considered by the The Board was a $3 million grant and $3 million loan to the town of Upton to construct a 40,000 square-foot rail car cleaning and repair facility on a lot owned by the Upton Economic Development Board. Rail Car Holdings will operate the facility, which is the only one of its kind for 220 miles in any direction.
Upton Economic Development Board would contribute $3,893,250, half of which comes from an Economic Development Administration matching grant, toward the project.
“This project will completely change the economic landscape in Upton,” said John Marshall, President of Golden Shovel Agency and resident of Upton, WY. “The board is very excited to get construction started!”
The Business Council board recommended full funding for the project from the town of Upton.
The Business Council board is required by statute to forward BRC grant and loan recommendations to the State Loan and Investment Board (SLIB) for final approval. 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.
The SLIB will make final decisions on BRC project requests at its 8 a.m. meeting on Jan. 18at the Herschler Building in Room 1699 in Cheyenne.
About the Program: The Wyoming Business Council administers the Business Ready Community grant and loan program, which provides financing for publicly owned infrastructure that serves the needs of businesses and promotes economic development within Wyoming communities.
About the Wyoming Business Council: Our mission is to increase Wyoming’s prosperity. We envision a Wyoming where industries are strong, diverse and expanding. Small business is a big deal. Communities have the highest quality of life. Wyoming is the technology center of the High Plains. Wyoming knows no boundaries. Please go to www.wyomingbusiness.org for more information.
Category: Press Release, News