SEEDA Holds Special Meeting for Kennon Grant Agreements

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The SEEDA Board
The SEEDA Board

The Sheridan Economic and Educational Development Authority Joint Powers Board held a special meeting Tuesday to consider grant agreements for a project that will allow for the expansion of Kennon Products of Sheridan. Sheridan Media’s Ron Richter has the details.

In January, the SLIB Board approved funding for SEEDA to help cover the costs to construct a manufacturing facility in north Sheridan. A Wyoming Business Council Business Ready Community grant in the amount of $2.85 million and a Business Ready Community loan in the amount of $1.5 million, were approved and will be used in conjunction with a U.S. Department of Commerce grant that was approved last year in the amount of $2.2 million, to build an approximate 35,000 square foot facility in the High-Tech Business Park in north Sheridan that SEEDA would lease to Kennon Products Inc, of Sheridan.

At a special meeting of the SEEDA Joint Powers Board Wednesday, the board voted to accept the Business Council grant agreement and sub agreements that are part of the overall grant agreement. SEEDA Administrator Robert Briggs.

One of the sub-agreements that garnered a lot of board discussion was the operations and maintenance agreement.

Briggs said that unlike the Weatherby Building in North Sheridan, there isn’t an option for Kennon to buy the facility after a certain time period. He said that the intention is to lease the building throughout its entire life span.

We’ll hear more about the Kennon expansion in a future story that will include the timeline to construct the building that will be located in north Sheridan.

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