Business Council board votes on bond request, contract

September 6, 2012

The Business Council held its regular meeting in Gillette, Wyo., today, voting on an Industrial Development Bond request and a contract.                   

The board voted on a recommendation to the governor’s office to support Lost Creek, ISR, LLC/Ur-Energy, Inc.’s, request for the State Treasurer’s office to purchase $34 million in bonding for the project.    

The board also voted to enter into a $122,500 contract with Behre Dolbear & Co. to evaluate the economics of the project and appraise the assets securing the bond.  The $34 million in bonding would be contingent on the results of the contract work.  If positive results are found and the bonding goes forward, the Business Council would be reimbursed by Lost Creek/Ur-Energy for the cost of the contract investment.  

In addition, the board voted to move forward with the Community Development Block Grant program’s consolidated five year plan.  

The board heard updates on some of the strategic initiatives the Business Council has been working on with various partners such as: the Hybrid Energy Systems Study in cooperation with the University of Wyoming School of Energy Resources and the Idaho National Laboratory; work with Western Research Institute on off-grid power supply for small data plants; and an update on advancing opportunities in rail transportation in the state including a cooperative effort for a comprehensive rail with the Wyoming Dept. of Transportation. 

The board also heard updates from its Agribusiness Division and the Public Relations and Marketing staff on various projects and programs. 

The mission of the Business Council is to facilitate the economic growth of Wyoming. The Business Council, a state government agency, concentrates its efforts on providing assistance for existing Wyoming companies and start-ups, helping communities meet their development and diversification needs, and recruiting new firms and industries targeted to complement the state’s assets. For more information, please visit www.wyomingbusiness.org. ###