Business Council to Consider SEEDA Grant/Loan Request

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Vacutech CEO John Tucker at a SEEDA meeting in June. (Photo Ron Richter ©)
Vacutech CEO John Tucker at a SEEDA meeting in June. (Photo Ron Richter ©)

The Wyoming Business Council will meet next week to consider three Business Ready Community grant and seven Community Development Block Grant requests. Sheridan Media’s Ron Richter has the details.

During a special meeting in June, the Sheridan Economic and Educational Development Authority Joint Powers Board made the decision to apply for a grant and loan through the Wyoming Business Council under the Business Ready Community Grant and Loan Program. The funding will allow for the expansion of Vacutech in the High-Tech Business Park in north Sheridan. What’s being proposed is a 40,000 square foot facility adjacent to the current Vacutech building. Vacutech CEO John Tucker says the expansion is needed to meet the growing demand for their product.

As we previously reported, Vacutech will donate four acres of land adjacent to their current building that will be used for the site of the new facility. SEEDA will lease the facility to Vacutech for five years, after which time, Vacutech will have the option to buy the building. The total estimated cost of the project is $4.4 million. Nearly $3 million of that, if approved, would come from the grant, and $1.2 million would be in the form of a loan. Vacutech would contribute $275,000 to cover the cost of the parking area for the new building. Vacutech currently employs over 130 people at their location in north Sheridan. It is anticipated that approximately 75 new jobs would be created over the five years due to the expansion.

If approved by the Business Council at their meeting Thursday in Alpine, the grant and loan requests will be considered for approval by the State Loan and Investment Board at their October 5 meeting in Cheyenne.

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