SLIB Approves New Financial Package For Magpul Industries

The Wyoming State Loan and Investment Board (SLIB) voted to reduce the amount of a previously approved Business Ready Community (BRC) grant for Laramie County.

The SLIB voted 4-1 to modify Laramie County’s award amount to $8.3 million to acquire an existing building in the Cheyenne Business Parkway for the recruitment of firearms accessories manufacturer Magpul Industries.

On Feb. 6 Laramie County was awarded a $13 million grant from the Governor’s BRC Large Business Infrastructure Fund for the purchase and renovation of an existing 67,096 square-foot facility and construction of a new 108,000 square-foot manufacturing facility to recruit the company.

Laramie County requested a $4.7 million reduction of the initial award in order to acquire a building that recently became available.  Magpul is expected to occupy the new building in October 2014.

Erie, Colorado-based Magpul decided to move its production, distribution and shipping operations to Cheyenne and its headquarters to Texas after Colorado enacted gun control laws last year.

Magpul plans to have some of its operations up and running in Cheyenne in November, creating about 90 new jobs. It plans to close its Colorado facility sometime next spring.
 

SLIB Approves New Financial Package For Magpul Industries