GRANTS

Workforce Development Training Fund: The State provides two major types of training grants, the Business Training Grants and the Pre-Hire Economic Development Grants.  The Business Training Grants provide opportunities for Wyoming’s new or existing businesses to create new jobs or to complete necessary skill upgrades to stay competitive. The State may award a grant of up to $4,000 per trainee.  The Pre-Hire Economic Development Grants provide pre-employment, industry-specific skills training to develop a work force for businesses or industry when there is a shortage of skilled workers.

Business Ready Community Grant and Loan Program: Cities, towns, counties, and joint powers boards are eligible to receive grants and loans to stimulate economic development at the local level.  The typical maximum award is $1.5 million with a 10% match. These incentives can be used for public infrastructure projects in which a business is committed to locate or expand in the community.  Grants and loans can also be made available for projects in which a community wants to build facilities or install infrastructure to prepare for new business development under a specific strategy or plan of action.

RENEWABLE ENERGY CREDIT

WyoRECs Renewable Energy Credit Discount Program:  Offers discounted renewable energy credits to companies interested in taking advantage of green energy to power expanding operations.

LOW INTEREST FINANCING

Industrial Development Revenue Bonds: Cities and counties may issue Industrial Development Revenue Bonds to provide financing to promote economic growth within the state, and to create jobs for in-state residents. The maximum amount of bonds that can be issued for a project is $600,000,000 and the business must provide a bank “letter of credit” to guarantee payment of the bonds.

TAX EXEMPTIONS

Sales Tax Exemption: Fuel for transporters and fuel or power consumed directly in manufacturing or processing is exempt from sales tax. The lease or sale of manufacturing machinery used directly and predominately in the manufacturing process is also exempt from sales/use tax.

Property Tax Exemption: Personal property in transit in interstate commerce, as well as goods manufactured or assembled in Wyoming when the final destination is out of state, is exempt from property tax. Pollution-control equipment is exempt from property tax.

 

Last updated: April 2017


 
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