‘Project Enterprise’

City of Sheridan Administrator Mark Collins (Photo Ron Richter ©)
City of Sheridan Administrator Mark Collins (Photo Ron Richter ©)

The Sheridan Economic and Educational Development Authority Joint Powers Board approved a resolution at their meeting Tuesday that supports applying for a grant to construct a light manufacturing facility in Sheridan. Sheridan Media’s Ron Richter has the details.


The resolution that was unanimously approved by the SEEDA Board authorizes submission of application to the Wyoming Business Council under the Business Ready Community Grant and Loan Program for a Business Committed Project. City of Sheridan Administrator Mark Collins says that “Project Enterprise” consists of the construction of a 100,000 square foot manufacturing facility in the Sheridan High-Tech Park.

Collins said the grant application is in the amount of $12.5 million. SEEDA will provide a cash match from reserve funds in the amount of $322,874, and nine acres of land in the Sheridan High-Tech Park valued at $1.96 million. Collins talked about the timeline for the grant being considered by the Business Council and SLIB.

Sheridan Mayor Roger Miller said that while the identity of the company will remain a mystery for the time being, the business will provide a much needed economic boost as there will be at least 70 jobs created by Project Enterprise between 2018 and 2022.

Per terms of the resolution that was approved, Project Enterprise will lease the building and have the option to purchase the facility after five years of ownership by SEEDA, who will retain 50 percent of all lease payments and proceeds from the sale of the facility, which will be placed in a designated recapture fund.

SheridanWyoming.com

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