Wyoming Business Council
Business Development Incentives
Wyo REC’s Renewable Energy Credit Discount Program
WyoRECs is a partnership formed in 2013 between the Wyoming Business Council and Powder River Energy Corporation (PRECorp) to offer discounted renewable energy credits (RECs) to companies interested in taking advantage of green energy to power their growing Wyoming operations.
NO Corporate State Income Tax!
NO Personal State Income Tax!
Business Ready Community Grant & Loan Program
The Business Ready Communities program can provide financing for publicly owned infrastructure that promotes economic development within Wyoming communities. Projects may include direct job creating projects where a business has committed to locate or expand in a community, and community readiness projects where no specific company has committed to expand or locate in a community.
Industrial Development Revenue Bonds
Cities and counties may issue tax-exempt industrial development revenue bonds to provide financing for manufacturing and energy generation businesses. These bonds are issued within the State’s IRS allocation of tax-exempt bond financing. The maximum project is $10,000,000 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. The Wyoming Business Council will coordinate this process.
The Wyoming Partnership Challenge Loan Program provides low-interest loans to community development organizations that, in turn, match these funds and make low-interest loans to new and existing businesses. The funds may also be used to purchase participations on loans originated by commercial lenders. Interest rates on these loans are generally fixed for the first five years and may be as low as 5%. The maximum loan amount per business is $250,000. The Wyoming Business Council administers these funds.
The Workforce Development Training Fund (WDTF) was created by the 1997 Wyoming Legislature and assists new and existing industries in the state with the training needs of newly hired or current employees.
The training grants are available for up to $4,000 per trainee.
The CDBG Program provides grants to local governments for community and economic development projects. The CDBG Program makes convertible loans based on job creation as well as other tools that may assist businesses. The Wyoming Business Council administers this federal program and approves grant recipients for the money issued to Wyoming.
The Wyoming Business Council, the Department of Workforce Services and the Wyoming Community College Commission have partnered to improve workforce development training to companies doing business in Wyoming by licensing Georgia’s Quick Start Program.
Wyoming has also licensed the Supervisory and Leadership Training programs from Development Dimensions International (DDI). The DDI curriculum in professional and leadership development can be delivered in half-day, full-day or multi-day formats to meet your company’s time frame and training needs.