When Wyoming’s State Loan and Investment Board meets Thursday, among the items to be considered is a request for nearly $1.4 million from the Sheridan Economic and Education Development Authority – also known as SEEDA.
Robert Briggs, who’s SEEDA administrator, said the funds are the additional money needed for a 40,000 square foot addition to Vacutech.
The project has been recommended for approval by the Wyoming Business Council, and if it’s approved by SLIB, Briggs said, construction could start on the addition this spring. If that happens, the new addition could be finished by spring or summer next year.
The funds will come from the state’s Business Ready Community program. Briggs said SEEDA originally sought a grant, but the Wyoming Business Council recommended a loan at 2.5 percent with a 20-year payoff.
Briggs said he is leaving Wednesday to attend the SLIB meeting in Cheyenne. He said the meeting will start at 8 a.m., and SLIB typically deals with Business Ready Community funds during the morning session.