- The Wyoming Department of Workforce Services (DWS) is a state agency focused on delivering comprehensive and effective services that build a workforce to meet the changing demands of Wyoming's diverse businesses, citizens and economy. All services through DWS are provided to employers at no cost.
- DWS offers employers the ability to register their openings and examine the labor pool with Wyoming At Work - the Department's online job-matching system where these and many other like services are provided to the public free of charge. Workforce specialists can assist in writing job orders, researching wages and setting up criteria to ensure that the job listing is reaching the appropriate audience.
- Additional specialized recruitment and screening services are also available at the Wyoming Department of Workforce Services' local Workforce Centers located throughout the state.
- Workforce Specialists at DWS are available to work with your company to identify labor information that will help with decision making regarding hiring.
- The Wyoming Workforce Development Training Fund is a unique program that helps employers provide training in their organizations. This Fund has established three different types of grants that address workforce training needs.
- Grants for New Positions
- Business Training Grants for New Positions can provide between $1000 and $4000 per trainee per fiscal year, depending on the employee’s full-time status and wage amount.
- Pre-Hire Economic Development Grants
- Designed to train skilled workers in a particular business, businesses or industry.
- Grants for Existing Positions
- Business Training Grants for Existing Positions can provide up to $2000 per trainee per fiscal year for established
Industrial development revenue bonds:
Cities and counties may issue tax-exempt Industrial Development Revenue Bonds to provide financing to promote economic growth within the state, and to create jobs for in-state residents. IDR Bonds can be used for land acquisition, building and equipment loans. These bond are issued with the the State of Wyoming's IRS allocation of tax-exempt bond financing. The maximum project is $600,000,000 and the business must provide a bank "letter of credit" to guarantee payment of the bonds. Interested businesses must apply for an allocation within the State's volume cap.
Financing programs:
Business Ready Community Grant and Loan Program:
The Business Ready Community (BRC) Grant and Loan Program has provided $79 million in grants and loans over two years to stimulate economic development at the local level. Cities, towns, counties, and joint powers boards are eligible applicants. State and local community development organizations can assist and provide project development under contract to the primary applicant. The Wyoming Business Council may enter into contracts/cooperative agreements with the Eastern Shoshone Tribe and the Northern Arapaho Tribe in order to fund infrastructure projects.
BRC grants and loans can be used for public infrastructure projects in which a business is committed to locate or expand in the community. Grants and loans may also be made 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. Eligible infrastructure activities that may be funded include water, sewer, streets, telecommunications, airports, rights-of-way, land, and spec buildings. Funds can be used for amenities within a business or industrial park, landscaping, and recreational facilities.
Community Development Block Grant Program:
Under the community and economic development components of the CDBG program, funds are set aside annually for each of six economic development components grant categories. The purpose of economic development infrastructure is to provide public improvements, such as the extension of roads and water and sewer lines, to sites for the benefit of a specific business that will result in job creation. Job training grants help businesses with employee training costs, such as instructor salaries, training materials, and tuition. Planning-only grants are available to local governments and nonprofit businesses to perform feasibility studies related to economic and community development. Technical assistance grants are designed to assist for-profit businesses that conduct project planning and research. Convertible loans are changed to grants as jobs are created. Lastly, downtown development grants target CDBG assistance to fund projects in the downtown area. Generally, this includes assistance for ADA, public facilities, rehabilitation of commercial buildings, historic preservation, land acquisition, and site clearance.
The Wyoming Industrial Development Corporation (WIDC) provides financial aid for businesses. The WIDC also assists in the packaging of loans with banks and other government agencies, such as SBA 504 and 7(a), and HUD 108.
Wyoming SBIR Phase 0 Program: Unique to Wyoming, this program helps Wyoming companies develop competitive proposals by giving a $5,000 grant and matching up applicants with mentors who have previously received SBIR Phase I awards.
Governor's Data Center Infrastructure Grant Funds
A $15,000,000 appropriation to the Governor to assist Wyoming cities, towns and counties to build necessary public infrastructure for the recruitment and operation of data centers.
Loan/Financing Programs:
- Small/Medium Projects
- Bridge Loan Participation: This loan program is administered by the Wyoming Business Council and allows the state to partner with commercial lenders, with combined loan proceeds going to a third-party recipient. The state may participate up to 35% of the total project costs with a maximum state portion of $500,000. The total loan to value may not exceed 85%. The interest rate is set at 5% (fixed) for the first five years of the loan participation.
- Guaranteed Loan Participation: This loan allows the State to participate in a federally guaranteed loan. The state may participate up to 50% of the loan amount with a maximum state portion of $1,000,000. The total loan to value may not exceed 85%. The interest rate is set at 5% (fixed) for the first five years of the loan participation.
- Large Projects
- Economic Development Large Project Program: The State Treasurer is authorized to lend funds for the benefit of Wyoming businesses. The loan may finance the purchase, construction and installation of buildings or equipment, which will add economic value to goods, services or resources within the state. The minimum loan amount is $5,000,000 and the applicant must contribute at least three (3) times the requested loan amount.
- State Treasurer Purchase of Industrial Development Bonds: The State Treasurer is authorized to purchase industrial development bonds issued by municipalities or counties for the benefit of Wyoming businesses. The bonds may finance the purchase, construction and installation of buildings or equipment, which will add economic value to goods, services or resources within the state. Working capital, inventory, soft costs, and intangible costs are ineligible uses of bond proceeds. The terms are determined on a case-by –case basis. At least 25% of eligible uses of the project must be provided by the applicant.
- Tax Exempt Industrial Development Revenue Bonds: These tax-exempt industrial development revenue bonds are issued in the name of a City, county or State Authority. Use of proceeds and types of qualifying projects are determined by IRS rules. Inquire for state’s volume cap allocation and more information through the Wyoming Business Council.
Wyoming State Contact: Brandon Marshall
Manager, Business Recruitment & Development
Wyoming Business Council
brandon.marshall@wyo.gov
307-777-2820 Incentive and tax information is provided to Area Development by each state's economic development or commerce agency for information purposes only and is subject to revision at any time by the state government. Please contact the state agency directly for full requirements and offerings. This information was last updated January 2016. - Grants for New Positions
Wyoming Direct Financial Incentives
Wyoming's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment.
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